EV Cars

CPCA expects China’s NEV retail sales at 940,000 in Dec, up 11.8% from Nov

EV World Desk2 min read

China’s NEV penetration at retail is expected to be around 41.4 percent in December, up from 40.4 percent in November.

CPCA expects China's NEV retail sales at 940,000 in Dec, up 11.8% from Nov-CnEVPost

China’s retail sales of new energy vehicles (NEVs) this month are expected to see a fifth consecutive record high in December, according to the China Passenger Car Association (CPCA).

In December, retail sales of passenger NEVs in China are expected to be around 940,000 units, up 46.6 percent year-on-year and up 11.8 percent from November, the CPCA estimates released today showed.

China’s passenger NEV retail sales stood at 841,000 units in November, according to data previously released by the CPCA. The CPCA is expected to release preliminary data on December NEV sales early next month and final figures in the middle of next month.

Survey shows that major automakers, which contribute about 80 percent of passenger car sales, targeted a 9 percent increase in retail sales at the beginning of December from the previous month, the CPCA said.

According to preliminary projections, China’s passenger car retail sales would be around 2.27 million units in December, up 9.3 percent from November and up 4.8 percent year-on-year, the CPCA said.

This means that the penetration rate of NEVs at retail is expected to be about 41.4 percent in December, up from 40.4 percent in November.

The overall discount rate in China’s passenger car market was about 19.9 percent in mid-December, with the discount level widening from 19 percent at the end of November, the CPCA said.

The downward trend in prices was more pronounced as car companies intensively added year-end discounts, the CPCA said.

Average daily retail sales of major automakers in the first week of December were 47,500, up 6.8 percent year-on-year and up 8.3 percent from the same period in November.

Average daily retail sales of major carmakers in the second week were 66,800, up 2 percent year-on-year and up 2 percent from the same week last month.

Average daily retail sales for the third week were 75,700, up 0.6 percent year-on-year and up 25.9 percent from the same week last month.

Average daily retail sales for the fourth week are expected to be 114,300 units, up 8.3 percent year-on-year while down 15.3 percent from the same week last month.