CPCA

In terms of retail sales, China's NEV penetration rate is expected to be about 31.8 percent in December, lower than the 32.3 percent in November.

The Model Y sold 52,424 retail units in China in November, more than four times as many as the second-place BMW X3.

The Nio ET5 was the ninth best-selling premium sedan in China in November, with the ET7 at No. 8.

At retail, NEVs reached a record 36.3 percent penetration rate in November.

Demand in China's NEV market has held steady amid high international oil prices, the CPCA said.

In terms of retail sales, the penetration rate of NEVs in China is expected to be about 32.3 percent in November. This is a new historical record.

BYD was the top auto brand in China in terms of retail sales for the fourth consecutive month this year.

October was the first full delivery month for the ET5. Deliveries of the model began on September 30, with 221 units delivered in September.

The CPCA secretary general said automakers would be in an awkward position to raise prices next year after cutting them at the end of this year, which would be bad for sales activity.

The release of year-end automotive consumer demand is at risk and uncertain due to the recent rebound of the Covid outbreak in China, which has impacted auto showroom traffic and order patterns, the CPCA said.