China's Passenger Car Retail Sales Down 22% YoY in Sept 1-20, NEV Penetration Nears 68%
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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%.
Source report
According to data released by the China Passenger Car Association (CPCA) on September 23, the domestic passenger vehicle market showed mixed performance during the first 20 days of September.
Overall Market Performance
Retail Sales:
- Total retail sales: 878,000 units
- Year-on-year: down 22% compared to the same period in September last year
- Month-on-month: up 8% from the previous month
- Year-to-date cumulative retail sales: 12.593 million units, down 21% year-on-year
Wholesale Shipments:
- Total wholesale shipments: 1.001 million units
- Year-on-year: down 19% compared to the same period last year
- Month-on-month: up 21% from the previous month
- Year-to-date cumulative wholesale shipments: 18.184 million units, down 6% year-on-year
New Energy Vehicle (NEV) Market Performance
Retail Sales:
- Total NEV retail sales: 596,000 units
- Year-on-year: down 9% compared to the same period last year
- Month-on-month: up 14% from the previous month
- Year-to-date cumulative NEV retail sales: 7.27 million units, down 12% year-on-year
Wholesale Shipments:
- Total NEV wholesale shipments: 740,000 units
- Year-on-year: up 8% compared to the same period last year
- Month-on-month: up 25% from the previous month
- Year-to-date cumulative NEV wholesale shipments: 10.518 million units, up 9% year-on-year
Market Penetration Rates
- NEV retail penetration rate: 67.9% (September 1–20)
- NEV wholesale penetration rate: 73.9% (September 1–20)
Source
界面Neutral / independent