As of now, all provinces in China have implemented the car replacement subsidy policy and brought a new wave of growth momentum to the automative market, the CPCA said.
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Category: CPCA Estimates
In October, retail sales of passenger NEVs in China are expected to be at 1.15 million units, up 49 percent year-on-year and up 2.4 percent compared with September, according to estimates released today by the CPCA.
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China's wholesale sales of passenger NEVs are estimated at 1.228 million units in September, up 48 percent year-on-year and up 17 percent from August.
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In September, China's passenger NEV retail sales are expected to be around 1.1 million units, up 47.3 percent year-on-year and up 7.3 percent compared to August, CPCA's estimates show.
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China's wholesale sales of passenger NEVs are expected to come in at 1.05 million units in August, which would be the first time this year that they have exceeded 1 million units.
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China's NEV retail penetration is set to exceed 50 percent for the second consecutive month and reach a new record high of 53.2 percent.
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July was traditionally a slow production season, while a lack of demand and extreme weather in some regions led to overall weakness in the auto market, according to the CPCA.
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China's passenger car retail sales fell in July from June, but the NEV market was bolstered by fast-growing sales of hybrid models, the CPCA said.
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In June, price wars in China's auto market cooled down, spurring consumer sentiment among groups that had been on the sidelines, the CPCA said.
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China's June retail sales of NEVs are set to be the second highest on record, further approaching last December's record high.
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