CPCA

China's overall passenger car retail sales in January totaled 1.794 million units, down 12.1 percent year-on-year and down 31.9 percent from December.

Overall passenger car retail sales in January were 1.85 million units, down 9 percent year-on-year and down 30 percent from December.

In January, China's wholesale sales of passenger NEVs were estimated at 900,000 units, up 31 percent from a year earlier but down 40 percent from December, the CPCA said.

Retail sales of all passenger cars in China for the January 1-19 period were 1.05 million units, down 5 percent from a year ago and down 27 percent from a month ago.

China's auto market is expected to continue to show seasonality at the start of the year, with overall passenger car retail sales expected to be around 1.75 million units, down 33.6 percent from the previous month.

Retail and wholesale sales of passenger NEVs in China fell sharply in the January 1-12 period compared to the same period last month.

Tesla sold 657,102 retail units in China in 2024, ranking third in the Chinese NEV market with a 6.0 percent share, according to the CPCA.

China's retail penetration of NEVs stood at 49.4 percent in December, marking the fourth consecutive month of decline and the first time since June that the penetration rate has fallen below 50 percent.

China's NEV retail penetration was 52.6 percent in December and 47.97 percent in 2024, according to preliminary CPCA data.

China's auto market saw 227 models with price cuts in 2024, more than 148 in 2023 and significantly higher than 95 in 2022, according to CPCA secretary-general.