China’s NEV penetration rate at retail was 37.8 percent in October, up from 36.9 percent in September.
China’s passenger new energy vehicles (NEVs) sold a record 767,000 units at retail in October, surpassing the 700,000-unit mark for the third time, according to data released today by the China Passenger Car Association (CPCA).
This was up 37.5 percent from 554,664 units in the same period last year and up 2.7 percent from 746,000 units in September.
The figure is higher than the preliminary figure of 765,000 units released by the CPCA earlier yesterday, and higher than the estimated figure of 750,000 units it released at the end of last month.
Battery electric vehicles (BEVs) accounted for 495,000 retail sales in October, or 64.5 percent of all retail sales of NEVs. This was up 24.1 percent year-on-year but down 0.9 percent from September.
Plug-in hybrid (PHEV) retail sales were a record 271,000 units in October, contributing 35.3 percent of all NEV retail sales, up 71.3 percent year-on-year and up 10.1 percent from September.
China’s passenger vehicles including cars, SUVs and MPVs retailed at 2.033 million units in October, up 10.2 percent year-on-year and up 0.7 percent from September.
The penetration rate of NEVs at retail in China was 37.8 percent in October, up 7.6 percentage points from 30.2 percent a year earlier and up from 36.9 percent in September.
The retail penetration rate of NEVs from local brands was 60.4 percent, while that of luxury brands was 19.6 percent and that of mainstream joint venture brands was 6.5 percent, according to the CPCA.
From January to October, retail sales of passenger NEVs in China amounted to 5.954 million units, up 34.2 percent year-on-year.
China’s wholesale sales of passenger NEVs in October were a record 883,000 units, up 30.1 percent year-on-year and up 5.7 percent from September.
The penetration rate of NEVs in the wholesale market was 36.2 percent in October, up 5.3 percentage points from 30.9 percent a year earlier and up from 33.9 percent in September.
The penetration rate of NEVs in October was 51 percent for local Chinese brands, 33.6 percent for luxury brands and 6.4 percent for mainstream JV brands.
In the January-October period, wholesale sales of Chinese passenger NEVs amounted to 6.80 million units, up 35.5 percent year-on-year.
China’s passenger NEVs exported 112,000 units in October, up 8.2 percent year-on-year and up 22.9 percent from September, contributing 28.6 percent of passenger car exports.
BEVs contributed 90.3 percent of China’s NEV exports in October, according to the CPCA.
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