China's October wholesale sales of passenger NEVs are expected to be 890,000 units, up 32 percent year-on-year and up 7 percent from September, the CPCA said.
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The penetration rate of NEVs at retail in October is expected to be around 37.1 percent, up from 36.9 percent in September.
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In the January-September period, China's passenger NEV wholesale sales were estimated at 5.92 million units, up 36 percent year-on-year, according to the CPCA.
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China's NEV penetration at retail is expected to be around 37.9 percent in September, up from 37.3 percent in August.
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In January-August, China's passenger NEV wholesale sales are estimated at 5.08 million units, up 39 percent year-on-year, according to the CPCA.
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China's NEV penetration at retail is expected to be around 37.8 percent in August, up from 36.1 percent in July.
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The penetration rate of NEVs at retail in July is expected to be around 35.8 percent, up from 35.1 percent in June.
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In the first half of the year, wholesale sales of passenger NEVs in China are expected to be 3.53 million units, up 44 percent year-on-year.
China's wholesale sales of passenger new energy vehicles (NEVs) are expected to be 740,000 units in June, up 10 percent from May and up 30 percent year-on-year, the China Passenger Car Association (CPCA) said in a report today.
In May, the 12 manufacturers with more than 10,000 NEVs sold at wholesale contributed 82.8 percent of all wholesale sales, the CPCA said.
These companies are expected to sell 611,000 units in June, and the normal structure would put China's June wholesale sales of passenger NEVs at around 740,000 units, the CPCA said.
In the January-June period, China's wholesale sales of passenger NEVs are expected to be 3.53 million units, up 44 percent from a year earlier, according to the report.
In China, NEVs include battery electric vehicles, plug-in hybrids and fuel cell vehicles.
China's passenger NEV market maintained strong growth in June, continuing May's trend with sales reaching an all-time high, the CPCA said.
With the launch of a large number of competitive new products and increased promotions in the second quarter, consumers' enthusiasm for buying was gradually released, the report said.
Manufacturers and dealers are actively carrying out various promotional activities to achieve their semi-annual targets, and coupled with local government subsidies, NEV retail sales continue to improve, the CPCA said.
Passenger vehicle sales in China are expected to be 23.5 million units in 2023, with 8.5 million units of NEVs sold and penetration expected to reach 36 percent, the CPCA said, repeating its previous forecast.
For the full year 2022, China's wholesale sales of passenger NEVs are expected to be 6.5 million units, up 96.3 percent year-on-year.
Here are the CPCA's June NEV wholesale sales figures for major automakers.
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This means that the penetration of NEVs at retail is expected to be 36.6 percent in June, up from 33.3 percent in May.
Passenger vehicle sales in China are expected to decline this month compared to a year ago, but the performance of new energy vehicles (NEVs) remains strong.
In June, retail sales of NEVs in China are expected to be around 670,000 units, up 26 percent year-on-year and up 15.5 percent from May, according to estimates released today by the China Passenger Car Association (CPCA).
Survey shows that automakers that contribute about 80 percent of passenger car sales are targeting retail sales growth of about 5 percent in June compared with May, the CPCA said.
According to preliminary projections, passenger vehicle sales in China were about 1.83 million units in June, up 5 percent from May but down 5.9 percent from a year earlier, the CPCA said.
The year-on-year decline was due to a high base in June last year, when China's auto market was recovering from the shock of Covid, according to the CPCA.
The CPCA had forecast several times this month that June passenger car sales would be lower than a year ago, one reason being China's halving of purchase taxes on mainstream internal combustion engine vehicles that began last June.
Today's latest estimate implies that NEVs had a penetration rate of about 36.6 percent at retail in June, up from 33.3 percent in May.
Auto market demand dropped slightly in early June, but the market warmed up with the start of the June 18 shopping spree, the release of local government subsidies and the Dragon Boat Festival, the CPCA said.
The overall discount rate in China's passenger car market was about 17.8 percent in mid-June, expanding 0.6 percent from the end of May, according to the CPCA.
Major carmakers averaged 31,100 daily retail sales in the first week of June, down 42 percent from the same period in May, mainly due to a high base of vehicle sales during last month's Labor Day holiday, the CPCA said.
Their average daily retail sales in the second week of June were 42,900 units, down 14 percent from the second week of May.
As promotions kicked off in mid-June, the car market picked up in the third week, with average daily retail sales of 57,500 units, up 21 percent from the same week in May.
In the fourth week, with the arrival of the Dragon Boat Festival holiday, average daily retail sales are expected to be 62,000 units, an increase of 26 percent over the same period in May.
In week five, average daily retail is expected to be 113,700 units, up 32 percent from the same period in May, due to the pulse of the quarter-end sales, according to the CPCA.
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From January to May, China's wholesale sales of passenger NEVs are expected to be 2.78 million units, up 46 percent year-on-year, the CPCA said.
China's wholesale sales of passenger new energy vehicles (NEVs) are expected to be 670,000 units in May, up 11 percent from April and up 59 percent year-on-year, the China Passenger Car Association (CPCA) said in a report today.
In April, the 11 manufacturers with more than 10,000 wholesale sales of NEVs contributed 81.1 percent of all wholesale sales, the CPCA said.
These companies are expected to sell 542,000 units in May, and the normal structure would put China's wholesale sales of passenger NEVs in May at around 650,000 units, the CPCA said.
The CPCA gave a higher estimated figure of 670,000 wholesale sales as the development of China's NEV industry continues to consolidate this year, the report said.
In the January-May period, China's wholesale sales of passenger NEVs are expected to be 2.78 million units, up 46 percent year-on-year, according to the report.
NEVs include battery electric vehicles (BEVs), plug-in hybrids (PHEVs), and fuel cell vehicles.
China's new energy passenger vehicle market returned to stronger growth in May, with sales hitting a new high this year, the CPCA said.
As a result of last year's low base and the recent continued strength of China's passenger NEV exports, vehicle companies in the core regions of the NEV industry chain, including Shanghai, performed well, the CPCA said.
Passenger vehicle sales in China are expected to be 23.5 million units in 2023, including 8.5 million NEVs, and penetration is expected to reach 36 percent, the CPCA said, repeating its previous forecast.
In 2022, wholesale sales of passenger NEVs in China were 6.5 million units, up 96.3 percent year-on-year.
Here are the wholesale NEV sales of major automakers in May, as published by the CPCA.
Tesla sells 77,695 China-made vehicles in May, up 2.44% from Apr
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