China NEV retail at 204,000 in Mar 1-9, up 116% from same period last month

• The significant increase from February 1-9 was largely due to a low base caused by the Chinese New Year holiday early last month.
• NEV penetration at retail was 56.04 percent in the March 1-9 period and 46.05 percent year-to-date.

China's new energy vehicle (NEV) sales saw a significant rebound at the beginning of the month, as the slow season passed.

During March 1-9, retail sales of passenger NEVs in China totaled 204,000 units, up 44 percent from the same period last year and up 116 percent from the same period last month, data released today by the China Passenger Car Association (CPCA) showed.

The sharp increase relative to February 1-9 was mainly due to a low base caused by the Chinese New Year holiday early last month.

This year's Chinese New Year holiday was January 28-February 4. Last year the holiday was February 10-17.

So far this year, cumulative retail sales of China's passenger NEVs totaled 1.63 million units, up 36 percent year-on-year.

Wholesale sales of China's passenger NEVs for March 1-9 were 214,000 units, up 53 percent from a year ago and up 112 percent from the same period last month, according to the CPCA.

So far this year, cumulative wholesale sales of China's passenger NEVs totaled 1.933 million units, up 49 percent from the same period last year.

From March 1-9, China's retail sales of all passenger vehicles were 364,000 units, up 14 percent compared with the same period last year and up 52 percent from the same period last month.

So far this year, cumulative retail sales of all passenger vehicles in China totaled 3.539 million units, up 2 percent year-on-year.

This means that China's NEV penetration at retail stood at 56.04 percent from March 1-9 and 46.05 percent year-to-date.

In the first week of March -- March 1-9 -- the average daily retail sales of passenger cars in China were 40,406 units.

During March 1-9, wholesale sales of all passenger cars in China were 403,000 units, an increase of 26 percent compared to the same period last year, and an increase of 84 percent compared to the same period last month.

During March 1-9, the average daily wholesale sales of passenger cars were 44,822 units.

So far this year, China's passenger car wholesale sales stood at 4,268,000 units, up 14 percent compared to the same period last year.

Data table: China NEV sales in Mar 1-9

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