In the first week of July, China's NEV penetration at retail stood at 36.5 percent, with year-to-date penetration at 32.55 percent.
(Image credit: CnEVPost)
The beginning of the month is usually a weak time for auto sales in China, and the first few days of July appear to have been even weaker.
From July 1-9, retail sales of passenger new energy vehicles (NEVs) in China were 122,000 units, down 13 percent year-on-year and down 1 percent from the same period last month, according to data released today by the China Passenger Car Association (CPCA).
So far this year, China's retail sales of passenger NEVs were 3.209 million units, up 34 percent year-on-year.
From July 1 to 9, wholesale sales of passenger NEVs in China were 115,000 units, down 30 percent year-on-year but up 6 percent from the same period in June, according to the CPCA.
Wholesale sales of passenger NEVs so far this year were 3.66 million units, up 39 percent year-on-year.
Between July 1 and 9, retail sales of all passenger cars in China were 331,000 units, down 7 percent year-on-year and down 2 percent from the same period last month, the CPCA said.
So far this year, cumulative retail sales of passenger cars in China were 9.856 million units, up 2 percent year-on-year.
This means that in the first week of July, China's penetration of NEVs at retail was 36.5 percent, with 32.55 percent penetration so far this year.
From July 1-9, China's average daily passenger car retail sales stood at 37,000 units, down 7 percent from the same period last year and down 2 percent from the same period in June.
In July last year, China's auto market was supported by purchase tax breaks, but not this year, so the year-on-year decline at the beginning of the month was normal, the CPCA said.
In the second half of last year, China halved the purchase tax on major fuel vehicles, a policy that was not renewed after it expired at the end of last year.
NEVs are still enjoying a purchase tax exemption, although the state purchase subsidy was not renewed after it expired last year.
