China's total vehicle sales in 2023 stood at 30,094,000 units, the first time it has surpassed the 30 million mark, with NEVs contributing 31.6 percent.
The post China sells 1.2 million NEVs in Dec, nears 10 million for full year 2023, CAAM data show appeared first on CnEVPost.
For more articles, please visit CnEVPost.
China sold a record 1,026,000 NEVs in November, including 929,000 sold locally and 97,000 exported.
The post China's monthly NEV sales exceed 1 million for 1st time in Nov, CAAM data show appeared first on CnEVPost.
For more articles, please visit CnEVPost.
Excluding exports, China's NEV sales in October were a record 832,000 units, up 2.9 percent from September.
The post China's Oct NEV sales up 5.75% MoM to record 956,000, CAAM data show appeared first on CnEVPost.
For more articles, please visit CnEVPost.
From January to September, China's NEV sales amounted to 6,278,000 units, accounting for 29.8 percent of all vehicle sales.
The post China's NEV sales up 6.86% MoM to record 904,000 units in Sept, CAAM data show appeared first on CnEVPost.
For more articles, please visit CnEVPost.
From January to August, China's NEV sales were 5.37 million units, up 39.51 percent year-on-year, accounting for 29.5 percent of all vehicle sales.
The post China Aug NEV sales up 8.46% MoM to record 846,000, CAAM data show appeared first on CnEVPost.
For more articles, please visit CnEVPost.
From January to July, China's NEV sales increased 41.7 percent year-on-year to 4,526,000 units, contributing 28.96 percent of all vehicle sales.
The post China's Jul NEV sales down 3.23% MoM to 780,000 units, CAAM data show appeared first on CnEVPost.
For more articles, please visit CnEVPost.
In the first half of the year, China's NEV sales amounted to 3,745,000 units, contributing 28.3 percent of all vehicle sales.
The post China NEV sales up 12.41% MoM to 806,000 in Jun, CAAM data show appeared first on CnEVPost.
For more articles, please visit CnEVPost.
The statement in the pledge, "not to disrupt the fair competition order of the market with abnormal prices," was inappropriate and inconsistent with the principles of China's anti-monopoly law, the CAAM said.
The post CAAM retracts call for automakers to not disrupt market with abnormal prices appeared first on CnEVPost.
For more articles, please visit CnEVPost.
These car companies have pledged to regulate their marketing activities and not to disrupt the order of fair competition in the market with abnormal prices.
(Image credit: CnEVPost)
More than 10 car companies, including major electric vehicle (EV) startups, have pledged to jointly maintain a fair market order in China's auto market, at a time when the EV industry is growing rapidly.
At the 2023 China Auto Forum in Jiading, Shanghai, today, the China Association of Automobile Manufacturers (CAAM) and 16 major automakers signed a pledge to uphold fair market order in the automotive industry.
This is to maintain a good auto market order, jointly create a good consumer environment, and actively stabilize and promote auto consumption, they said at the conference.
The car companies that signed the commitment include:
China FAW, Dongfeng Motor, SAIC, Changan Automobile, BAIC, GAC, China National Heavy Duty Truck, Chery, JAC, Geely, Great Wall Motor, BYD, Nio, Li Auto, Xpeng, and Tesla.
The following is the main content of the commitment letter:
First, we will abide by the rules and regulations of the industry, regulate marketing activities, maintain a fair competition order, and not disrupt the fair competition order of the market with abnormal prices.
Second, we will pay attention to marketing methods, will not exaggerate or conduct false marketing, not to mislead consumers to attract attention and increase customer acquisition.
Third, we will put quality first, use quality-oriented, high-quality products and services to meet the people's needs for a better life.
Fourth, we will actively fulfill our social responsibility, and take an active role in helping to stabilize economic growth, increase confidence and prevent risks, and work together to make a contribution to national economic growth.
It should be noted that the commitment is self-regulatory and not legally binding, and it was signed after the price war at the beginning of the year and the emergence of a war of words between several EV companies and their supporters.
Since early March, a rare price war has erupted in China's auto industry, which has not boosted sales but has instead triggered a wait-and-see mood among consumers, resulting in car sales not seeing an increase.
On March 22, the CAAM called for the hype about price cuts in China's auto industry to cool down to return the industry to normal operation and ensure healthy and stable development of the industry throughout the year.
After that, the price war in China's auto industry gradually subsided.
It is worth noting that although these car companies pledged today not to disrupt the fair order with abnormal prices, it does not mean that they cannot cut prices when facing future challenges.
The post Carmakers, including Tesla, BYD, Nio, Xpeng, Li Auto, pledge to jointly maintain order in China auto market appeared first on CnEVPost.
For more articles, please visit CnEVPost.
China's auto industry still needs to further recover and expand demand, and the release of consumption potential needs to be accelerated, the CAAM said.
China's new energy vehicle (NEV) sales in May were 717,000 units, up 60.2 percent year-on-year and up 12.74 percent from April, according to data released today by the China Association of Automobile Manufacturers (CAAM).
The CAAM released data on wholesale sales by automakers, where NEVs include battery electric vehicles (BEVs), plug-in hybrid vehicles (PHEVs) and fuel cell vehicles.
China sold 522,000 BEVs in May, up 50.43 percent year-on-year and up 10.83 percent from April.
PHEV sales were 194,000 units in May, up 94.4 percent year-on-year. Sales of fuel cell vehicles were 400 units, up 310.7 percent year-on-year.
All vehicle sales in China were 2,382,000 in May, up 27.9 percent year-on-year and up 10.3 percent from April.
This means that China's NEVs had a penetration rate of 30.1 percent in May, up from 29.5 percent in April.
Production of NEVs in China was 713,000 units in May, up 53 percent year-on-year and 11.4 percent from 640,000 units in April.
Production of all vehicles in China was 2.333 million units in May, up 21.1 percent year-on-year and up 9.4 percent from May.
Both auto production and sales in China saw year-on-year growth in May, with NEVs continuing their rapid growth, the CAAM said.
However, the auto industry is still operating under great pressure, and the profitability of industry enterprises is at a low level, the CAAM noted.
From the current perspective, China's auto industry still needs to further recover and expand demand, and the release of consumption potential needs to be accelerated to drive steady growth in the industry, the CAAM said.
In May, 389,000 vehicles were exported from China, up 58.7 percent year-on-year and up 3.4 percent from April.
Among them, exports of NEVs were 108,000 units, up 150 percent year-on-year and up 7.9 percent from April.
In January-May, China's auto sales were 10.617 million units, an increase of 11.1 percent from the same period last year.
NEVs sold 2.94 million units in January-May, up 46.8 percent year-on-year, with a market share of 27.7 percent.
China contributes 56% of global EV sales in Q1, Counterpoint says
The post China NEV sales up 12.74% MoM to 717,000 in May, CAAM data show appeared first on CnEVPost.
For more articles, please visit CnEVPost.