This means that China's new energy passenger car sales will continue to reach a record high in September, up 87 percent year-on-year and up 5 percent from August.
China's new energy passenger car market maintained good growth in September, with wholesale sales of about 664,000 units, the China Passenger Car Association (CPCA) said in a report released today.
That means China's new energy passenger car sales will continue to hit a record high in September, up 87 percent year-on-year and up 5 percent from August.
In August, 16 companies sold more than 10,000 units of wholesale vehicles, and together they contributed 84.2 percent of new energy passenger vehicle sales. In September, the combined sales estimate for these companies was 558,000 units, the CPCA said.
BYD sold 200,973 new energy passenger vehicles in September, Tesla China 83,135 and SAIC-GM-Wuling 52,377, according to the CPCA.
Despite China's policy of halving the purchase tax on mainstream internal combustion engine (ICE) vehicles, demand for new energy vehicles (NEVs) is steady and improving as international oil prices continue to be high, the CPCA said.
In addition, local governments have no less incentive for the consumption of NEV models than ICE vehicles, which is also driving continued rapid growth in the NEV market, according to the CPCA.
In terms of retail sales of NEVs, the CPCA released data on September 23 showing that this is on track for a record 580,000 units, up 73.7 percent from 334,000 units a year ago and up 9.64 percent from August.
In September, the auto market in several regions of China was negatively impacted by Covid outbreaks but began to recover in the second half of the month, the CPCA previously said.
More detailed data from the CPCA is expected to be released in the next day or two.