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Retail penetration of NEVs in China was 35.6 percent in the first three weeks of May.
(Image credit: CnEVPost)
In the first three weeks of May -- May 1 to May 21 -- retail sales of new energy passenger vehicles in China were 372,000 units, up 109 percent year-on-year and up 13 percent from the same period last month, according to data released yesterday by the China Passenger Car Association (CPCA).
So far this year, China's retail sales of new energy passenger cars were 2.125 million units, up 44 percent year-on-year.
Wholesale sales of new energy passenger cars in China from May 1 to 21 were 361,000 units, up 81 percent year-on-year and up 10 percent from the same period in April, according to the CPCA.
So far this year, China's wholesale sales of new energy passenger vehicles are 2.469 million units, up 47 percent year-on-year.
In the first three weeks of May, retail sales of all passenger vehicles in China were 1.046 million units, up 41 percent year-on-year and up 10 percent from the same period last month, the CPCA said.
So far this year, cumulative retail sales of passenger cars in China are up 3 percent to 6.941 million units.
This means that in the first three weeks of May, China's penetration of new energy vehicles (NEVs) at retail was 35.6 percent, and the year-to-date penetration of NEVs was 31.9 percent.
In the first week of May, May 1-7, the average daily retail sales of passenger cars in China were 54,000 units, up 67 percent from the same period last May and up 46 percent from the same period in April.
In the second week of May, May 8- 14, the average daily retail sales of passenger cars in China were 48,000 units, up 44 percent over the same period last May and up 6 percent over the same period in April.
In the third week of May, May 15-21, the average daily retail sales of passenger cars in China were 48,000 units, up 17 percent from the same period last May but down 11 percent compared to the same period last month.
As price wars faded, dealers' mindsets stabilized and consumers returned to rational consumption, the CPCA said, adding that this eased wait-and-see sentiment and released pent-up demand.
The post China NEV retail up 13% MoM to 372,000 in 1st 3 weeks of May, CPCA data show appeared first on CnEVPost.
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