For the full year 2023, China’s NEV penetration at retail was 35.7 percent, up 8.1 percentage points from 2022.
China’s passenger new energy vehicles (NEVs) sold 945,000 units at retail in December, surpassing the 900,000-unit mark for the first time, according to data released today by the China Passenger Car Association (CPCA).
That’s up 47.3 percent from the same month last year and up 12.1 percent from November.
The figure is higher than the CPCA’s preliminary figure of 936,000 units released earlier this month, and also higher than its estimate of 940,000 units released at the end of last month.
Battery electric vehicles (BEVs) accounted for a record 598,000 retail sales in December, or 63.3 percent of all retail sales of NEVs. This was up 30.9 percent year-on-year and up 7.9 percent from November.
Plug-in hybrid vehicle (PHEV) retail sales were a record 347,000 units in December, contributing 36.7 percent of all NEV retail sales, which was up 88.0 percent year-on-year and up 20.2 percent from November.
China’s passenger vehicles including sedans, SUVs and MPVs retailed at 2.353 million units in December, up 8.5 percent year-on-year and up 13.1 percent from November.
China’s NEV penetration at retail stood at 40.2 percent in December, the second consecutive month above 40 percent, albeit slightly lower than November’s 40.4. This was up 10.6 percentage points from 29.6 percent a year earlier.
For the full year 2023, China’s NEV penetration at retail was 35.7 percent, up 8.1 percentage points from 2022.
The retail penetration of NEVs in December was 64.6 percent for local brands, 29.5 percent for luxury brands and 6.0 percent for mainstream JV brands, according to the CPCA.
In 2023, retail sales of passenger NEVs in China were 7.736 million units, up 36.2percent year-on-year.
Wholesale sales of passenger NEVs in China were a record 1.108 million units in December, up 47.5 percent year-on-year and up 15.3 percent from November.
NEV penetration in wholesale was 40.8 percent in December, up 7 percentage points from 33.8 percent a year earlier. For the full year of 2023, China’s NEV penetration at wholesale was 34.7 percent, up 6.6 percentage points from 28.1 percent in 2022.
China’s NEV penetration at wholesale in December was 59.3 percent for local brands, 33.2 percent for luxury brands and 7.4 percent for mainstream JV brands.
For the full year 2023, wholesale sales of Chinese passenger NEVs were 8.864 million units, up 36.3 percent year-on-year.
China’s passenger NEV exports were 102,000 units in December, up 39.8 percent year-on-year and up 19.4 percent from November, contributed 26.6 percent of passenger vehicle exports.
BEVs contributed 90 percent of China’s NEV exports in December, according to the CPCA.
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