EV Industry

Retail sales of new energy passenger vehicles in China were 332,000 units in January, lower than the CPCA's estimate of 360,000 units announced on January 28.

The CPCA's preliminary figures were 8.8 percent below its January 28 estimate of 1.36 million units, implying a worse-than-expected performance in the final days of January.

CICC expects the first quarter to contribute 15.7 percent of China's 2023 NEV sales, with 20.7 percent, 27.6 percent and 35.9 percent from the second to fourth quarters, respectively.

In terms of penetration, new registrations of NEVs in Shanghai contributed 53 percent of all new vehicle registrations in 2022.

Auto dealers' sales pace was disrupted in January due to the impact of the Covid infection wave and the early timing of the Chinese New Year, the CPCA said.

For the full year 2022, China's NEV sales were 6.887 million units, up 93.4 percent year-on-year, accounting for 25.6 percent of all vehicle sales.

Here is the CPCA's ranking of the top performers and models for December and the full year 2022.

By the end of 2022, there were 10.45 million battery electric vehicles (BEVs) in China, accounting for 79.78 percent of all NEV ownership.

On a full-year basis, the reopening of China will have a positive impact on consumer sentiment and should boost vehicle production and sales in the second quarter, said Edison Yu's team.

For the full year 2022, retail sales of new energy passenger vehicles in China were 5.67 million units, contributing 27.6 percent of all passenger vehicle sales.