- China NEV retail sales came in at 387,000 units during April 1-19, down 14% year-on-year and down 5% sequentially.
- Overall passenger car retail sales at 627,000 units in April 1-19, down 26% year-on-year.
Retail sales of new energy vehicles (NEVs) in China fell in the first 19 days of April from a year earlier as a wait-and-see sentiment among consumers remained strong.
Retail sales of passenger NEVs in China stood at 387,000 units between April 1 and April 19, down 14% year-on-year and 5% lower than the same period last month, data released Wednesday by the China Passenger Car Association (CPCA) showed.
The retail penetration rate of NEVs reached 61.7% during the period, indicating that new energy cars performed relatively better amid a broader slowdown in internal combustion engine vehicle sales.
Year-to-date, cumulative retail sales of passenger NEVs in China totaled 2.295 million units, down 20% from a year earlier.
Wholesale shipments of passenger NEVs in China were 413,000 units in April 1-19, down 17% year-on-year and 9% lower than the same period last month.
Year-to-date, cumulative wholesale shipments of passenger NEVs in China stood at 3.141 million units, down 6% from a year earlier.
The steeper year-on-year decline in NEV wholesales compared to the broader auto market reflects that manufacturers are proactively slowing down their supply pace to prevent further inventory buildup at dealerships, according to the CPCA.
Overall passenger car retail sales in China were 627,000 units in April 1-19, down 26% year-on-year and 18% lower than the same period last month.
Year-to-date, cumulative retail sales of overall passenger cars in China totaled 4.848 million units, down 19% from a year earlier.
The transaction pace slowed in early April following the end-of-quarter push, and the market was sluggish in the first week due to fewer effective selling days caused by the Qingming Festival holiday.
Consumers' wait-and-see sentiment remains strong as the industry holds intensive new technology launch events ahead of the Beijing Auto Show in late April, causing buyers to delay purchases, the CPCA said.
In the first week of April (April 1-6), average daily retail sales of passenger cars in China were 24,594 units, down 30% year-on-year and 20% lower than the same period in March.
In the second week of April (April 7-12), average daily retail sales of passenger cars in China were 38,159 units, down 13% year-on-year and 5% lower than the same period in March.
In the third week of April (April 13-19), average daily retail sales in China's passenger car market were 35,742 units, down 33% year-on-year and 27% lower than the same period last month.
During April 1-19, wholesale shipments of all passenger cars in China were 756,000 units, down 19% year-on-year and 16% lower than the same period last month.
From April 1-6, average daily wholesale shipments of passenger cars in China were 25,392 units, down 28% year-on-year and 17% lower than the same period last month.
From April 7-12, average daily wholesale shipments of passenger cars in China were 37,016 units, down 29% year-on-year and 24% lower than the same period last month.
From April 13-19, average daily wholesale shipments of passenger cars in China were 54,456 units, down 7% year-on-year and 10% lower than the same period last month.
Year-to-date, cumulative wholesale shipments of passenger cars in China totaled 6.622 million units, down 8% from a year earlier.
