CPCA Estimates

The penetration rate of NEVs at retail in July is expected to be around 35.8 percent, up from 35.1 percent in June.

In the first half of the year, wholesale sales of passenger NEVs in China are expected to be 3.53 million units, up 44 percent year-on-year.

This means that the penetration of NEVs at retail is expected to be 36.6 percent in June, up from 33.3 percent in May.

From January to May, China's wholesale sales of passenger NEVs are expected to be 2.78 million units, up 46 percent year-on-year, the CPCA said.

Passenger vehicle sales in China are expected to be around 1.73 million units in May, up 27.7 percent year-on-year and up 6.6 percent from April, the CPCA said.

China's auto industry price war faded in April, easing consumer wait-and-see sentiment and releasing suppressed demand, the CPCA said.

April passenger vehicle sales in China are expected to be around 1.57 million units, down 1.3 percent from March, the CPCA said.

In the first quarter, wholesale sales of new energy passenger vehicles in China are expected to be 1.48 million, up 25 percent year-on-year, the CPCA said.

The overall market is recovering at a slower pace than previously expected due to increased consumer wait-and-see sentiment caused by big price cuts, the CPCA said.

Retail sales of new energy passenger vehicles in China are expected to be around 400,000 units in February, with a penetration rate of 29.6 percent, according to preliminary estimates by the CPCA.