EV Industry

China's NEV retail sales slowed last week, dragging down the month-to-date performance.

China's NEV retail penetration rate was 49.57 percent in the October 1-13 period, and 45.98 percent year-to-date.

Excluding exports, China's domestic NEV sales were 1,176,000 units in September, surpassing the 1 million mark for the second time after December last year.

China's passenger NEV retail sales reached a record 1.123 million units in September, marking the second consecutive month of over 1 million.

China's passenger NEV retail sales were 1.12 million units in September, surpassing the 1 million mark for the second consecutive month, preliminary data from the CPCA showed.

China's wholesale sales of passenger NEVs are estimated at 1.228 million units in September, up 48 percent year-on-year and up 17 percent from August.

During the October 1-7 National Day holiday, the Xiaomi SU7 received more than 6,000 orders, Leapmotor 17,397 units and Deepal 14,465 units.

In the January-September period, China saw 195 models with price cuts, surpassing the 150 models in the whole of 2023, and significantly higher than the 95 models in 2022.

China's NEV retail penetration stood at 53.41 percent in the September 1-22 period, and 45.36 percent year-to-date.

In September, China's passenger NEV retail sales are expected to be around 1.1 million units, up 47.3 percent year-on-year and up 7.3 percent compared to August, CPCA's estimates show.