China's NEV sales performance didn't continue to deteriorate last week, despite the beginning of the year usually is a low point for sales.
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China's new energy vehicle (NEV) market was weak in the first 21 days of January due to seasonal factors.
During January 1-21, retail sales of passenger NEVs in China totaled 380,000 units, up 56 percent from the same period last year but down 21 percent from the same period last month, according to data released today by the China Passenger Car Association (CPCA).
Wholesale sales of passenger NEVs during the period were 362,000 units, up 49 percent from the same period last year, but 34 percent lower than the same period in December, according to the CPCA.
Data released by the CPCA last week showed that retail sales of China's passenger NEVs were 21 percent lower from January 1-14 than the same period in December, and wholesale sales were 32 percent lower.
This means that the performance of Chinese passenger NEVs did not continue to deteriorate last week.
For January 1-21, retail sales of all passenger cars in China amounted to 1.227 million units, up 46 percent from a year earlier while down 4 percent from a month earlier.
This means that during January 1-21, China's NEV penetration at retail was 30.97 percent.
In the first week of January -- January 1-7, average daily retail sales of passenger cars in China were 54,012, up 21 percent year-on-year and up 14 percent from the same period in December.
In the second week of January -- January 8-14, average daily retail sales of passenger cars in China were 58,513, up 15 percent year-on-year and flat from the same period in December.
In the third week of January -- January 15-21, average daily retail sales of passenger cars in China were 62,827, up 155 percent year-on-year but 18 percent lower than in December.
In January 1-21, China's wholesale sales of all passenger cars were 1.11 million units, up 42 percent from a year earlier but 13 percent lower than the same period last month, the CPCA said.
In the January 1-7 period, China's average daily wholesale sales of passenger cars were 47,018 units, up 14 percent from a year earlier and up 3 percent from a month earlier.
From January 8-14, China's average daily wholesale passenger car sales were 55,184 units, up 8 percent from a year earlier but down 9 percent from a month earlier.
During January 15-21, China's average daily wholesale passenger car sales were 56,424 units, up 138 percent year-on-year while down 26 percent from the same period last month.
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