- China's December passenger NEV wholesale sales were estimated at 1.5 million units, up 5 percent from November.
- This is the fifth consecutive month that China's monthly NEV wholesale sales have exceeded 1 million units.
China's new energy vehicle (NEV) sales continued to grow to a new record high last month.
In December, wholesale sales of passenger NEVs in China are estimated at 1.5 million units, up 35 percent year-on-year and up 5 percent from November, the China Passenger Car Association (CPCA) said in a report today.
In November, manufacturers with wholesale sales of more than 10,000 units of passenger NEVs contributed 93.8 percent of all wholesale sales of NEVs in the month, the CPCA said.
The estimated sales of these carmakers in December were 1.41 million units, and based on last month's structure, China's December passenger NEV wholesale sales is estimated at 1.5 million units, CPCA said.
This is the fifth consecutive month that China's monthly NEV wholesale sales have exceeded 1 million units, and the sixth time in history that the mark has been exceeded.
In terms of retail, China's NEV penetration continued to exceed 50 percent in December, the CPCA said.
In China, NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and fuel cell vehicles. Their exact numbers are expected to be announced later this month.
China's auto market in December remained relatively buoyant since the third quarter, with support from the trade-in subsidy continuing to show results, the CPCA said.
As of December 19, there were nearly 2.7 million applications for subsidies to buy new cars by scrapping old ones, and more than 3.1 million applications for subsidies to buy new cars through trade-ins, the CPCA said, citing data from China's Ministry of Commerce.
Most of those subsidy applicants chose to buy NEVs, with the policy particularly supportive of entry-level pure EVs and PEHVs, the CPCA said.
China started trade-in subsidies to support car consumption at the end of April. The subsidies were doubled at the end of July.
Among the major automakers, BYD (HKG: 1211, OTCMKTS: BYDDY) sold 509,440 wholesale units in December, Geely sold 111,206 units, SAIC-GM-Wuling sold 102,570 units, Chery sold 97,100 units and Tesla (NASDAQ: TSLA) China sold 93,766 units.
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