CPCA expects China's March NEV retail sales to rebound to 1 million units, with penetration rising to 54.1 percent.
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Category: CPCA Estimates
China's passenger NEV wholesale sales were estimated at 840,000 units in February, up 82 percent year-on-year but down 5 percent from January.
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Overall passenger car retail sales for February are expected to be around 1.25 million units, up 13.6 percent year-on-year but down 30.3 percent from January.
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In January, China's wholesale sales of passenger NEVs were estimated at 900,000 units, up 31 percent from a year earlier but down 40 percent from December, the CPCA said.
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China's auto market is expected to continue to show seasonality at the start of the year, with overall passenger car retail sales expected to be around 1.75 million units, down 33.6 percent from the previous month.
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This is the fifth consecutive month that China's monthly NEV wholesale sales have exceeded 1 million units.
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The CPCA expects China's retail sales of NEVs to reach 1.4 million units in December, the fifth consecutive month above 1 million units.
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This is the fifth time that China's monthly NEV wholesale sales have exceeded 1 million units.
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China's NEV penetration at retail is expected to be 53.3 percent in November, up from 52.9 percent in October.
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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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