China passenger car retail sales fall 22% year-on-year in Sept 1-20; NEV penetration hits 67.9%
The China Passenger Car Association (CPCA) reported on September 23 that passenger car retail sales in China totaled 878,000 units during September 1-20, a 22% decline year-on-year but an 8% increase month-on-month. New energy vehicle (NEV) retail sales reached 596,000 units, down 9% year-on-year. The NEV retail penetration rate hit 67.9%, while wholesale penetration reached 73.9%.
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China Passenger Car Retail Sales Down 22% Year-on-Year in Sept 1-20, Up 8% from August
According to data from the China Passenger Car Association (CPCA), retail sales of passenger cars in China from September 1-20 totaled 878,000 units, a 22% decrease year-on-year but an 8% increase compared to the same period in August. Wholesale volumes reached 1.001 million units, down 19% year-on-year but up 21% month-on-month. New energy vehicle (NEV) retail sales were 596,000 units, down 9% year-on-year but up 14% month-on-month, achieving a retail penetration rate of 67.9%. NEV wholesale penetration hit 73.9%. The report notes that the traditional 'Golden September' sales season is seeing a shift from broad-based growth to a zero-sum game, with incremental demand concentrated in NEVs while fuel vehicle demand is suppressed by high gasoline prices and strong competition from new electric models. Gasoline car production fell 52% year-on-year in the first three weeks of September. The CPCA observes that most NEV brands lack hot-selling models but maintain stable production to meet sales targets, contributing to an unusually high wholesale NEV penetration rate.
Read sourceChina Passenger Car Association: Sept 1-20 NEV Retail Sales Down 9% Year-on-Year
According to data released by the China Passenger Car Association (CPCA) on September 23, from September 1-20, the national passenger car market recorded retail sales of 878,000 units, a 22% decrease compared to the same period last year, but an 8% increase from the previous month. Cumulative retail sales for the year to date stand at 12.593 million units, down 21% year-on-year. In the new energy vehicle (NEV) segment, retail sales reached 596,000 units during the same period, a 9% decline year-on-year but a 14% increase month-on-month. Cumulative NEV retail sales for the year total 7.27 million units, down 12% year-on-year. The NEV retail penetration rate for September 1-20 was 67.9%, while the wholesale penetration rate was 73.9%.
Read sourceChina Passenger Car Retail Sales Fall 22% Year-on-Year in Sept 1-20 Period
According to data released by the China Passenger Car Association (CPCA) on September 23, retail sales of passenger cars in China totaled 878,000 units during the September 1-20 period. This represents a 22% decline compared to the same period last year, but an 8% increase from the previous month. Cumulative retail sales for the year to date stand at 12.593 million units, down 21% year-on-year. Wholesale volumes for the same period reached 1.001 million units, a 19% decrease year-on-year but a 21% increase month-on-month. Year-to-date wholesale volumes total 18.184 million units, down 6% from the previous year. The data reflects ongoing weakness in China's auto market demand compared to 2023 levels, though sequential improvement from August suggests some stabilization.
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China Passenger Car Retail Sales Fall 22% Year-on-Year in Sept 1-20
According to data released on September 23 by the China Passenger Car Association (CPCA), retail sales of passenger cars in China totaled 878,000 units during the first 20 days of September. This represents a 22% decline compared to the same period last year, though it is 8% higher than the previous month. Cumulative retail sales for the year to date stand at 12.593 million units, down 21% year-on-year. Wholesale volumes reached 1.001 million units in the period, down 19% year-on-year but up 21% month-on-month. In the new energy vehicle (NEV) segment, retail sales were 596,000 units, a 9% year-on-year decrease but a 14% increase from August. NEV wholesale volumes totaled 740,000 units, up 8% year-on-year and 25% month-on-month. The NEV retail penetration rate reached 67.9% for the period, while the wholesale penetration rate hit 73.9%.
China Passenger Car Retail Sales Reach 878,000 Units in Sept 1-20, CPCA Data Shows
According to data released on September 23 by the China Passenger Car Association (CPCA), from September 1 to 20, China's passenger car market recorded retail sales of 878,000 units. Wholesale volumes for the period totaled 1.001 million units, a 19% decline year-on-year but a 21% increase from the previous month. Cumulative wholesale for the year to date reached 18.184 million units, down 6% year-on-year. In the new energy vehicle (NEV) segment, wholesale volumes for September 1-20 were 740,000 units, up 8% year-on-year and 25% month-on-month, with year-to-date wholesale reaching 10.518 million units, a 9% increase. The NEV retail penetration rate for the period was 67.9%, while the NEV wholesale penetration rate stood at 73.9%. The data was sourced from the CPCA and originally reported by Jiemian News.
Read sourceChina Passenger Car Association: Sept 1-20 NEV Retail Penetration Reaches 67.9%
According to data released by the China Passenger Car Association (CPCA) for the period of September 1-20, the retail penetration rate of new energy vehicles (NEVs) in China's passenger car market reached 67.9%. Additionally, the wholesale penetration rate for NEVs from passenger car manufacturers during the same period stood at 73.9%. The data, sourced from the Cailian Press and reported by East Money, provides a snapshot of the rapid adoption of new energy vehicles in the Chinese auto market during the first two-thirds of September.
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