- China's retail sales of passenger NEVs rose 45.0 percent in March from February, ending two consecutive months of sequential declines.
- NEV retail penetration was back above 50 percent after falling below that mark last December.
Retail sales of passenger new energy vehicles (NEVs) in China rebounded last month, ending two consecutive months of sequential declines and pushing the penetration rate back above 50 percent.
Retail sales of passenger NEVs totaled 991,000 units in March, up 38.0 percent year-on-year and up 45.0 percent from February, according to data released today by the China Passenger Car Association (CPCA).
The figure is higher than the CPCA's preliminary figure of 988,000 units released in early April, but lower than the 1 million-unit estimate it released at the end of last month.
The Chinese New Year holiday usually arrives in January-February each year, weighing on auto production and sales. This year, the holiday ran from January 28 to February 4.
Battery electric vehicles (BEVs) had retail sales of 646,000 units in March, up 50.6 percent from a year earlier and up 51.2 percent from February, the CPCA said.
BEVs contributed 65.2 percent of all NEV retail sales in March, up from 62.2 percent in February.
Plug-in hybrid electric vehicles (PHEVs), excluding extended-range electric vehicles (EREVs), saw retail sales of 268,000 units, contributing 27.0 percent of NEV retail sales. This represents a 24.6 percent increase year-on-year and a 37.5 percent increase from February.
EREVs contributed 7.8 percent of NEV retail sales in March with 77,000 units sold. That's up 4.1 percent year-on-year and up 25.9 percent from February.
PHEVs and EREVs combined had retail sales of 345,000 in March, up 22.78 percent year-on-year and up 33.2 percent from February.
China's passenger cars including sedans, SUVs and MPVs retailed 1.94 million units in March, up 14.4 percent year-on-year and up 40.2 percent from February.
China's NEV penetration rate at retail was 51.1percent in March, an increase of 8.7 percentage points year-on-year and up 1.6 percentage points from February.
This is the return of NEV retail penetration above 50 percent since it fell below that mark in December last year.
NEV penetration at retail in March was 72 percent for local brands, 35 percent for luxury brands, and 6 percent for mainstream JV brands, according to the CPCA.
China's wholesale sales of passenger NEVs were 1,128,000 units in March, up 35.5 percent year-on-year, and up 35.9 percent from February.
March NEV penetration on wholesale was 46.8 percent, up 9.2 percentage points year-on-year, but down 0.2 percentage points from February.
NEV penetration of local Chinese brands at wholesale was 63 percent in March, compared to 36 percent for luxury brands and 5 percent for mainstream JV brands.
Passenger NEVs exported from China amounted to 143,000 units in March, up 6.4 percent year-on-year and up 21.2 percent from February, contributing to 36.6 percent of passenger car exports.
BEVs contributed 62 percent of NEV exports in March, with exports of A0- and A00-class BEVs accounting for 33 percent of NEV exports, according to the CPCA.
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