The preliminary figure was below the CPCA's previous estimate of around 580,000 units, suggesting that the market performed below expectations in the last week of May.
The China Passenger Car Association (CPCA) today released preliminary figures for May retail sales of new energy vehicles (NEVs) that were lower than previous estimates, suggesting that the market performed below expectations in the final week of May.
Retail sales of new energy passenger vehicles in China increased 55 percent in May to 557,000 units, up 6 percent from April, according to preliminary figures released today by the CPCA.
On May 23, the CPCA estimated in a report that China's estimated retail sales of new energy passenger vehicles in May would be around 580,000 units.
From January to May, retail sales of new energy passenger vehicles in China were 2.4 million units, up 40 percent year-on-year, the CPCA said today.
Wholesale sales of new energy passenger vehicles in China rose 59 percent to 671,000 units in May, up 11 percent from the previous month.
From January to May, wholesale sales of new energy passenger vehicles in China were 2.779 million units, up 47 percent year-on-year.
Retail sales of all passenger vehicles in China were 1.759 million units in May, up 30 percent year-on-year and up 8 percent from April, according to the CPCA.
This means that the penetration of new energy passenger vehicles at retail in May was 31.66 percent, down from 32.3 percent in April.
Retail sales of all passenger vehicles in China from January to May were 7.654 million units, up 4 percent year-on-year.
Wholesale sales of passenger vehicles in China were 2.015 million units in May, up 27 percent year-on-year and up 13 percent from April.
From January to May, wholesale sales of passenger cars in China were 8.857 million units, an increase of 11 percent year-on-year.
With the price war gradually receding, dealers are stabilizing their mindset and consumers are returning to rational consumption, easing the wait-and-see mood, the CPCA said.
The following is the CPCA's weekly retail sales data of the Chinese passenger vehicle market in May announced today:
In the first week of May, from May 1-7, the average daily retail sales of passenger cars were 54,000 units, up 67 percent year-on-year and up 46 percent over the same period in April.
In the second week of May, from May 8-14, the average daily retail sales of passenger cars were 48,000 units, up 44 percent year-on-year and up 6 percent from the same period in April.
In the third week of May, from May 15-21, the average daily retail sales of passenger cars were 48,000 units, up 15 percent year-on-year but down 12 percent from the same period in April.
In the fourth week of May, from May 22-28, the average daily retail sales of passenger cars were 50,000 units, down 17 percent year-on-year and 33 percent lower than the same period in April.
In the fifth week of May, May 29-31, the average daily retail sales of passenger cars were 122,000 units, up 94 percent year-on-year and up 57 percent from the same period in April.
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