CPCA Estimates

The CPCA said that trade-in subsidies adjustments in most Chinese provinces intensified consumer wait-and-see sentiment, impacting the auto market.

This represents a 16 percent year-on-year increase and a 7 percent rise from September.

From January to September, China's NEV wholesale sales are estimated at 10.45 million units, up 32 percent year-on-year.

In September, China's passenger NEV retail penetration rate is projected to reach a record 58.1 percent.

In the January to August period, China's NEV wholesale sales are estimated at 8.93 million units, a 34 percent year-on-year increase.

In July, China's passenger NEV wholesale sales are estimated at 1.18 million units, up 25 percent year-on-year, but down 4 percent from June.

The CPCA estimates China's July NEV retail to come in at 1.01 million, up 14.64 percent year-on-year, but down 9.09 percent from June.

In the first half of the year, China's NEV wholesale sales are estimated to reach 6.47 million units, up 38 percent year-on-year.

In May, China's passenger NEV wholesale sales are expected to reach 1.24 million units, a year-on-year increase of 38 percent and a month-on-month increase of 9 percent.

In May, China's passenger NEV retail sales are expected to be 980,000 units, with penetration at around 52.9 percent.