Monthly EV Sales

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.

Nio vehicles had 9,806 insurance registrations and 10,059 deliveries in October.

China's auto industry is currently maintaining momentum in production and wholesale sales, but growth in the consumer market has been slightly sluggish, the CAAM said.

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

Tesla produces new vehicles in the first half of each quarter primarily for export, and October's numbers continue that pattern.

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 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.

Tesla delivered 17,200 vehicles to local Chinese consumers in October. The company produces new vehicles in the first half of each quarter primarily for export.

The BYD Han family sold 31,614 units in October, the Tang family 17,161 units and the BYD Seal 11,267 units.

Sales in China's new energy passenger car market were muted in October, with leading manufacturers struggling to maintain growth, the CPCA said.