The Polestar 2 isn’t made in the US, but leasing the EV grants access to the tax credit.
Category: Electric
The upcoming compact passenger car is projected to have a sales potential of 42 million, almost double that of the Model 3/Y.
This was up 27 percent from February, but below the CPCA's estimate of around 560,000 units announced in late March.
Retail sales of new energy passenger vehicles (passenger NEVs) in China were 549,000 units in March, up 5 percent year-on-year and up 27 percent from February, preliminary figures released today by the China Passenger Car Association (CPCA) show.
Notably, the CPCA's estimate released on March 24 showed that retail sales of passenger NEVs in China in March were expected to be around 560,000 units.
The lower figure released today means that the NEV market performed weaker in the last week of March than the CPCA had expected.
In the first quarter, retail sales of passenger NEVs in China were 1.139 million units, up 15 percent from a year earlier, the CPCA said today.
Wholesale sales of passenger NEVs in China rose 32 percent to 599,000 units in March, up 21 percent from the previous month.
In the first quarter, wholesale sales of passenger NEVs in China were 1.483 million units, up 24 percent from a year earlier.
Retail sales of all passenger vehicles in China were 1.596 million units in March, flat from a year ago and up 17 percent from last February, according to the CPCA.
This means that the penetration of passenger NEVs at retail in March was 34.4 percent, up 2.8 percentage points from 31.6 percent in February.
In the first quarter, retail sales of all passenger vehicles in China were 4.275 million units, down 13 percent year-on-year.
Wholesale sales of passenger vehicles in China were 1.955 million units in March, up 7 percent year-on-year and up 22 percent from February.
In the first quarter, China's passenger car wholesale sales were 5.021 million units, down 8 percent year-on-year.
With a large number of car companies stepping up their promotions in March, demand for cars was concentrated, putting pressure on the normal order of the market, the CPCA said.
From the performance of the first four weeks of March, the conversion rate of customer traffic is not high, consumers were in a wait-and-see mood, and the overall demand was weak, the CPCA said.
Here are the CPCA's weekly retail sales data for the Chinese passenger vehicle market in March, as announced today:
Average daily retail sales of passenger vehicles in the first week of March were 31,000 units, down 16 percent year-on-year and down 14 percent from the same period in February.
Average daily sales for the second week of March were 37,000 units, down 18 percent year-on-year and down 8 percent from the same period in February.
Average daily sales for the third week of March were 41,000 units, up 10 percent year-on-year and up 7 percent from the same period in February.
Average daily sales for the fourth week of March were 46,000 units, up 18 percent year-on-year but down 35 percent from the same period in February.
Sales for the fifth week of March were reported at 115,000 units, up 3 percent year-on-year and up 63 percent from the same period in February.
China NEV insurance registrations for week ending April 2: BYD 46,218, Tesla 14,275, NIO 2,730
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Panasonic specializes in cylindrical batteries, which have been used in Teslas for years.
With consumers in a wait-and-see mood, orders and transaction rates did not increase significantly, and auto demand recovered less than expected, the CADA said.
Many automakers in China launched rare price wars in March to try to boost sales. But these moves do not seem to have achieved the results they wanted.
In March, following significant promotions by automakers in Hubei province, dozens of provinces and cities, including Beijing, Tianjin, Shanghai and Zhejiang, offered deals that gave dealership store traffic a quick boost, the China Automobile Dealers Association (CADA) said in an April 3 report.
However, orders and transaction rates did not increase significantly as consumers were in a wait-and-see mood, and auto consumer demand did not recover as expected, the CADA said.
The Vehicle Inventory Alert Index for China's auto market was 62.4 percent in March, down 1.2 percentage points from a year ago but up 4.3 percentage points from February, according to the CADA report.
The index's break-even value is 50 percent, and a reading above that benchmark means the auto distribution industry is in contraction territory, according to the report.
China's switch to the 6b emissions standard was not the main reason for the wave of price cuts, the CADA said, adding that most dealers said their inventories of 6a-based vehicles are not high and could be cleared by the end of June.
However, there are still a large number of 6b-based vehicles that do not meet RDE (real-world driving emission) standards, and with lower-than-expected sales in the first quarter, these vehicles face challenges in completing inventory clearance by the end of June, the CADA said.
In March, vehicle prices were volatile and customer wait-and-see sentiment was strong, resulting in lower orders and turnover rates and a decline in dealer profitability, according to the report.
More than 60 percent of dealers said they met less than 80 percent of their sales targets in the first quarter. Of those, 20.5 percent of dealers achieved 70-80 percent of their sales targets and 46.0 percent achieved less than 70 percent, the CADA said.
Separately, the CADA said in another report on April 3 that the March auto consumption index was 72.5, down from 74.6 percent in February.
March auto sales did not meet expectations, and dealers predict that without major policy changes in April, auto sales will be essentially unchanged from March, the CADA said.
In March, the demand sub-index of the auto consumption index was 68.2, down from 73.3 in February, the CADA said, adding that this signals a decline in demand for cars in April.
China's Mar passenger NEV wholesale sales up 20% MoM to 600,000, CPCA estimates show
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The Destroyer 07 is a Han-based sedan with a DM-i PHEV system. It will hit the market this year.
The post BYD Destroyer 07 sedan spied in China. It is based on the BYD Han appeared first on CarNewsChina.com.
The all-new compact van can carry two Euro pallets.
Customers who ordered early are receiving their $100 three-packs.
Originally published on opportunity:energy. Italy’s road to electric mobility has been featuring substantial setbacks in recent months, and the start of 2023 was no different. With the rest of Europe firmly progressing in its upward trajectory, the land of the most famous supercars seems yet undecided as to its future. January blues This year began […]
Test drives for the EC7 will open on April 10, with deliveries to begin in mid-May. | NIO US | NIO HK | NIO SG
(Image credit: NIO)
NIO (NYSE: NIO) will allow consumers to lock in orders for the EC7 electric coupe SUV starting next Monday, with the model just a month away from its planned delivery date.
Starting at 10 am on April 10, the EC7 will be available for consumer order lock-ins, NIO announced in an article posted on its mobile app today.
EC7 show cars and vehicles for test drives have already begun shipping to NIO showrooms in cities across China, and test drives will be available starting April 10, NIO said.
Until NIO starts accepting orders for lock-in, consumers can still get the benefits of the earliest buyers by paying a reservation deposit of RMB 5,000 ($730). These benefits include using the deposit as RMB 10,000 for the purchase of the car.
These reservation benefits will no longer be available after the EC7 begins accepting locked orders.
Deliveries of custom vehicles for the EC7 will begin in mid-May, NIO said.
Orders for the EC7 with locked-in configurations by April 16 will be scheduled for production and delivery essentially in the order in which consumers pay their reservation deposits.
Starting April 17, the EC7 will be scheduled for production and delivery in the order in which consumers lock in their configurations.
Some options may result in later deliveries of customized EC7s, with deliveries expected to begin as early as July for models with the optional rear comfort package and August for EC7s with the optional coral red interior.
Here is a video about the design of the EC7 shared by NIO on its app.
NIO officially launched the EC7, its second coupe SUV after the EC6, at the NIO Day 2022 event last December 24, with a length of 4,968 mm, width of 1,974 mm, height of 1,714 mm and a wheelbase of 2,960 mm.
NIO offers an intelligent dimming glass option for the EC7's roof, the first time the company has introduced this option in one of its models.
Thanks to an optimized exterior design, the EC7 has a wind resistance coefficient of just 0.23 Cd, which NIO said is the lowest of any mass-produced SUV in the world.
The EC7 is equipped with a 180-kW permanent magnet motor at the front and a 300-kW induction motor at the rear, allowing the motor to reach a peak power of 480 kW.
The powertrain allows the EC7 to accelerate from 0 to 100 km/h in 3.8 seconds, making it NIO's fastest-accelerating SUV.
NIO currently offers three versions of the EC7, including a version with a 75-kWh standard range battery pack, a version with a 100-kWh battery pack, and a premiere version with a 100-kWh battery pack.
Including the battery, the starting prices for these three versions are RMB 488,000, RMB 546,000 and RMB 578,000 respectively.
If consumers choose NIO's battery as a service (BaaS) program, the starting prices are RMB 418,000 for both regular versions and RMB 450,000 for the premiere version. Their monthly battery rental costs are RMB 980 yuan, 1680 yuan and 1680 yuan respectively.
NIO's NAD (NIO Autonomous Driving) feature will also be available for the EC7, and the full feature package will be available on a subscription basis at a cost of RMB 680 yuan per month. However, the software is not yet available.
NIO offers the first EC7 owners a 10-year unlimited mileage warranty, up to six free battery swaps per month, and free home charger.
It is worth noting that with the EC7 available, the EC6 is not discontinued.
On February 13, the new, NT 2.0 platform-based EC6 appeared in a filing catalog showing the model's appearance and core specifications.
($1 = RMB 6.8809)
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