- China's November NEV retail sales saw a modest increase, indicating year-end performance was not as robust as in previous years as trade-in subsidies phase out.
- NEV retail penetration in China reached 59.8 percent in November and 53.45 percent year-to-date.
China's new energy vehicle (NEV) retail sales in November showed a modest increase, indicating year-end performance was not as robust as in previous years.
In November, China's passenger NEV retail sales totaled 1.354 million units, up 7 percent year-on-year and up 6 percent month-on-month, according to preliminary data released today by the China Passenger Car Association (CPCA).
Year-to-date, China's passenger NEV retail sales totaled 11.5 million units, up 20 percent year-on-year, according to the CPCA.
Wholesale sales of China's passenger NEVs in November came in at 1.72 million units, a 20 percent increase year-on-year and a 7 percent rise from October.
Year-to-date, China's passenger NEV wholesale sales totaled 13.78 million units, up 29 percent year-on-year.
Yesterday, the CPCA said in a report that adjustments to trade-in subsidies in most Chinese provinces have intensified consumer wait-and-see sentiment, significantly impacting the November auto market.
In November, China's total passenger vehicle retail sales were 2.263 million units, down 7 percent year-on-year but up 1 percent month-on-month.
Year-to-date, China's cumulative passenger vehicle retail sales totaled 21.52 million units, a 6 percent increase compared to the same period last year.
This indicates that China's NEV retail penetration rate stood at 59.8 percent in November and 53.45 percent year-to-date.
During the first week of November, November 1-9, China's average daily passenger vehicle retail sales were 46,056 units, down 19 percent year-on-year and down 4 percent month-on-month.
In the second week of November, November 10-16, China's average daily passenger vehicle retail sales were 67,312 units, down 9 percent year-on-year and down 7 percent month-on-month.
During the third week of November, November 17-23, China's daily average retail sales of passenger vehicles reached 71,131 units, down 7 percent year-on-year but up 7 percent compared to the same period last month.
In the fourth week of November, November 24-30, China's daily average retail sales of passenger vehicles reached 125,617 units, up 2 percent year-on-year but up 19 percent compared to the same period last month.
Total wholesale sales of all passenger vehicles in China for November were 2.992 million units, up 2 percent both year-on-year and month-on-month.
From November 1-9, China's average daily wholesale sales of passenger vehicles were 52,020 units, down 22 percent year-on-year but up 48 percent month-on-month.
From November 10-16, China's daily average wholesale sales of passenger vehicles were 78,961 units, down 5 percent year-on-year and down 4 percent month-on-month.
From November 17-23, China's daily average wholesale sales of passenger vehicles were 95,656 units, up 2 percent year-on-year and unchanged month-on-month.
From November 24-30, China's daily average wholesale sales of passenger vehicles were 185,956 units, a 19 percent increase year-on-year and a 9 percent increase compared to the same period last month.
Year-to-date wholesale sales of passenger vehicles in China reached 26.77 million units, an 11 percent increase compared to the same period last year.
