China NEV retail at 95,000 in Feb 1-9, down 36% from same period last month

• China's NEV retail sales for February 1-9 were up 11 percent from a year ago, but down 36 percent from a month earlier.
• The January 28-February 4 holiday, this year's Chinese New Year holiday, created disruptions to production and consumption activities.

China's new energy vehicle (NEV) sales were significantly lower in the first nine days of February compared to the same period in the previous month, as the Chinese New Year holiday brought disruption.

Retail sales of passenger NEVs in China totaled 95,000 units in the February 1-9 period, up 11 percent from the same period last year, but down 36 percent from the same period last month, according to data released today by the China Passenger Car Association (CPCA).

So far this year, cumulative retail sales of passenger NEVs in China totaled 839,000 units, up 11 percent from the same period last year.

Wholesale sales of passenger NEVs from February 1-9 were 101,000 units, up 44 percent from the same period last year, but down 47 percent from the same period last month, according to the CPCA.

Cumulative wholesale sales of passenger NEVs so far this year totaled 990,000 units, up 29 percent from the same period last year.

The Chinese New Year holiday, from January 28 to February 4, caused disruptions to production and consumption activities. Last year's Chinese New Year holiday was February 10-17, 2024.

From February 1-9, retail sales of all passenger cars in China were 239,000 units, 31 percent lower than the same period last year and 39 percent lower than the same period last month.

So far this year, the cumulative retail sales of all passenger cars in China stood at 2.032 million units, down 15 percent from a year earlier.

This means that China's NEV penetration at retail stood at 39.75 percent in the February 1-9 period and 41.29 percent so far this year.

During February 1-9, the average daily retail sales of passenger cars in China were 26,528 units.

For February 1-9, China's wholesale sales of all passenger cars were 219,000 units, flat from a year ago and down 58 percent from a month earlier.

During February 1-9, China's average daily wholesale sales of passenger cars were 24,379 units.

So far this year, China's passenger car wholesale sales were 2.32 million units, flat from the same period last year.

China EV insurance registrations by brand for week ending Feb 9: Nio 1,100, Tesla 6,200, Xiaomi 4,400, BYD 28,900

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