- This marks a rare year-on-year decline in China's NEV retail sales, partly due to the impact of a "golden week" holiday.
- In October 1-12, China's total passenger vehicle retail sales totaled 686,000 units, down 8 percent year-on-year.
China saw a rare year-on-year drop in new energy vehicle (NEV) retail sales during early October, partly influenced by a "golden week" holiday.
In the October 1-12 period, China's passenger NEV retail sales totaled 367,000 units, down 1 percent year-on-year despite a 1 percent increase month-on-month, according to data released today by the China Passenger Car Association (CPCA).
The year-on-year decline was partly due to the National Day and Mid-Autumn Festival holidays occurring from October 1-8 this year. In contrast, last year's October 1-7 period was the National Day holiday, with October 8 being a workday.
Year-to-date, China's cumulative passenger NEV retail sales reached 9.24 million units, up 23 percent year-on-year.
Wholesale sales of China's passenger NEVs from October 1-12 totaled 328,000 units, a 1 percent increase year-on-year but an 11 percent decrease month-on-month, according to the CPCA.
Year-to-date, China's passenger NEV wholesale sales totaled 10.78 million units, up 31 percent year-on-year.
From October 1-12, China's total passenger vehicle retail sales were 686,000 units, down 8 percent year-on-year but up 12 percent month-on-month.
Year-to-date, China's total passenger vehicle retail sales reached 17.69 million units, up 8 percent year-on-year.
This indicates that the retail penetration rate of NEVs in China was 53.5 percent from October 1-12 and 52.2 percent year-to-date.
During the first week of October, October 1-8, China's daily average passenger vehicle retail sales were 43,530 units, down 18 percent year-on-year and down 5 percent month-on-month.
During the second week of October, October 9-12, China's average daily passenger vehicle retail sales were 84,508 units, marking a 7 percent year-on-year increase and a 38 percent rise compared to the same period last month.
From October 1-12, China's total passenger vehicle wholesale sales amounted to 546,000 units, down 11 percent year-on-year and down 15 percent month-on-month.
From October 1-8, China's average daily wholesale sales of passenger vehicles were 30,065 units, down 21 percent year-on-year and down 36 percent month-on-month.
From October 9-12, China's average daily wholesale sales of passenger vehicles were 76,306 units, down 1 percent year-on-year while up 15 percent month-on-month.
Year-to-date wholesale sales of passenger vehicles reached 21.39 million units, a 12 percent increase compared to the same period last year.
