China’s new energy vehicle (NEV) retail sales in June continued to show strong growth, with passenger NEV retail sales reaching 1.071 million units. This marks the second consecutive month that sales have surpassed the 1 million mark, according to preliminary data from the China Passenger Car Association (CPCA).
Compared to the same period last year, June’s sales represent a 25 percent year-on-year increase and a 4 percent increase from May. So far this year, China has seen a total of 5.429 million units of passenger NEVs sold, marking a 32 percent year-on-year growth.
Wholesale sales of passenger NEVs in June also saw a significant increase, totaling 1.259 million units, up 28 percent year-on-year and 3 percent month-on-month. The cumulative wholesale sales for the year have reached 6.465 million units, showing a 38 percent year-on-year growth.
Overall, China’s total passenger vehicle retail sales in June reached 2.032 million units, a 15 percent increase from the same period last year and a 5 percent increase from May. Year-to-date, total passenger vehicle retail sales stood at 10.849 million units, up 10 percent year-on-year.
The penetration rate of NEVs in retail sales was 52.7 percent in June, with a year-to-date rate of 50.04 percent. This indicates a growing demand for electric vehicles in the Chinese market.
Looking at the weekly sales data for June, we can see a steady increase in average daily retail sales of passenger vehicles throughout the month. The third week of June saw the highest average daily retail sales at 80,525 units, up 30 percent year-on-year and 42 percent month-on-month.
In terms of wholesale sales, China’s total wholesale sales of passenger vehicles in June reached 2.473 million units, up 14 percent year-on-year and 7 percent month-on-month. The year-to-date wholesale sales volume of passenger vehicles in China is estimated at 13.263 million units, showing a 12 percent year-on-year increase.
In the first half of the year, China’s NEV wholesale sales are expected to reach 6.47 million units, reflecting a 38 percent year-on-year growth. This data highlights the continued growth and demand for new energy vehicles in the Chinese market.
Overall, the latest data from CPCA indicates a positive trend in the Chinese NEV market, with strong sales performance in both retail and wholesale sectors. As the government continues to promote electric vehicles and sustainable transportation options, we can expect to see further growth in the NEV market in the coming months.
