- This marks a rare year-end decline in NEV sales over recent years, as support policies are scaled back.
- From December 1-7, total passenger vehicle retail sales in China totaled 297,000 units, down 32 percent year-on-year.
During the first week of December, China's new energy vehicle (NEV) sales experienced a significant decline -- a rare year-end drop in recent years -- as support policies are scaled back.
From December 1-7, China's passenger NEV retail sales came in at 185,000 units, down 17 percent year-on-year and down 10 percent month-on-month, according to data released today by the China Passenger Car Association (CPCA).
By comparison, during the first week of December 2024, December 1-8, China's passenger NEV retail sales reached 255,000 units, a 72 percent year-on-year increase.
The decline likely stems from the gradual unavailability of vehicle trade-in subsidies that were accessible earlier this year, dampening demand.
Year-to-date, China's cumulative passenger NEV retail sales totaled 11.66 million units, up 19 percent year-on-year.
Wholesale sales of China's passenger NEVs from December 1-7 totaled 191,000 units, down 22 percent year-on-year and down 20 percent month-on-month.
Year-to-date, China's cumulative passenger NEV wholesale sales were 13.95 million units, up 27 percent year-on-year.
From December 1-7, China's total passenger vehicle retail sales totaled 297,000 units, down 32 percent year-on-year and down 8 percent month-on-month.
Year-to-date, China's cumulative retail sales of all passenger vehicles reached 21.78 million units, a 5 percent increase compared to the same period last year.
This indicates that China's NEV retail penetration rate was 62.2 percent during December 1-7 and 53.52 percent year-to-date.
During the first week of December, December 1-7, China's average daily retail sales of passenger vehicles were 42,468 units.
From December 1-7, China's total passenger vehicle wholesale sales were 298,000 units, down 40 percent year-on-year and down 18 percent month-on-month.
During December 1-7, China's average daily wholesale sales of passenger vehicles stood at 42,525 units.
Year-to-date wholesale sales of passenger vehicles in China reached 27.06 million units, up 10 percent compared to the same period last year.
