Chinese NEV Retail Sales Reach 187,000 in December 1-10, Marking a 3% Increase Compared to the Previous Month

In the current year, China has witnessed a notable surge in retail sales of passenger New Energy Vehicles (NEVs), reaching 6.996 million units, marking a remarkable 34% year-on-year increase.

The latest data from the China Passenger Car Association (CPCA) reveals that from December 1 to December 10, retail sales of China’s passenger NEVs totaled 187,000 units. This reflects an 8% rise compared to the same period last year and a 3% increase from the preceding month.

Cumulatively, the retail sales of passenger NEVs in China for the year amount to 6.996 million units, indicating a robust 34% growth compared to the corresponding period in the previous year.

During the same December 1-10 timeframe, wholesale sales of passenger NEVs in China reached 194,000 units, experiencing a 10% decrease from the previous year and a 2% decline from November, as reported by the CPCA.

Year-to-date, wholesale sales of passenger NEVs in China stand at 7.967 million units, showcasing a substantial 34% year-on-year increase.

The CPCA highlights that retail sales of all passenger vehicles in China during December 1-10 amounted to 475,000 units, reflecting a 7% year-on-year growth and an 8% increase from the previous month.

For the entirety of the year, China’s retail sales of passenger cars have grown by 5% year-on-year, reaching 19.819 million units.

Analyzing the data, it’s evident that the retail penetration of NEVs in China was 39.4% during the December 1-10 period and stands at 35.3% for the entire year.

According to the CPCA, the average daily retail sales of passenger cars in China from December 1-10 reached 47,475 units.

In the same period, wholesale sales of passenger cars in China amounted to 457,000 units, experiencing a 9% year-on-year increase and a 4% decrease from the previous month. Cumulatively, the year-to-date wholesale sales reached 23.272 million units, marking a 9% growth compared to the previous year. The average daily wholesale sales of passenger cars from December 1 to December 10 were reported at 45,690 units, according to the CPCA.