CPCA

Retail sales of NEVs in China reached a record high in October, but NEV penetration declined slightly due to faster growth in gasoline vehicle sales.

China's NEV penetration at retail stood at 54.38 percent in October and 46.92 percent year-to-date, according to preliminary CPCA data.

As of now, all provinces in China have implemented the car replacement subsidy policy and brought a new wave of growth momentum to the automative market, the CPCA said.

China's retail penetration of NEVs was 52.2 percent in October 1-27, and 46.46 percent year-to-date.

In October, retail sales of passenger NEVs in China are expected to be at 1.15 million units, up 49 percent year-on-year and up 2.4 percent compared with September, according to estimates released today by the CPCA.

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.

In the January-September period, BYD was No. 1 in the NEV market in China with a 34.6 percent share, while Tesla was No. 3 with a 6.5 percent share.

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.