China's NEV penetration at retail was 50 percent in June 1-10, and 40.74 percent year-to-date.
(An Avatr 12 on display at the new energy vehicle show in Shanghai in early June 2024. Image credit: CnEVPost)
China's new energy vehicle (NEV) retail sales were weak in early June, as the overall auto market declined.
China's passenger NEV retail sales stood at 180,000 units in the June 1-10 period, up 27 percent from a year earlier but down 11 percent from the same period last month, data released yesterday by the China Passenger Car Association (CPCA) showed.
The data covered the June 8-10 Dragon Boat Festival holiday. In the previous month, May 1-5 was the Labor Day holiday.
So far this year, the cumulative retail sales of China's passenger NEVs stood at 3.436 million units, up 34 percent year-on-year.
Unlike the weak performance of NEV retail sales at the beginning of the month, wholesale sales have been strong.
Wholesale sales of passenger NEVs from June 1-10 were 197,000 units, up 56 percent from the same period last year and up 10 percent from the same period last month, according to the CPCA.
Cumulative wholesale sales of China's passenger NEVs so far this year were 3.835 million units, up 32 percent from a year earlier.
From June 1-10, China's retail sales of all passenger vehicles were 360,000 units, 8 percent lower than the same period last year and 23 percent lower than the same period last month.
So far this year, cumulative retail sales of all passenger cars in China were 8.433 million units, up 5 percent year-on-year.
This means that China's NEV penetration at retail was 50 percent from June 1-10 and 40.74 percent year-to-date.
In the first week of June -- June 1-10 -- the average daily retail sales of passenger cars in China were 36,010.
Wholesale sales of all passenger cars in China for June 1-10 were 352,000 units, down 13 percent year-on-year but up 4 percent from the same period last month.
During June 1-10, China's average daily wholesale sales of passenger cars was 35,191 units.
Cumulative wholesale sales of all passenger cars in China so far this year were 9,936,000 units, up 8 percent year-on-year.
China EV insurance registrations for week ending Jun 9: Nio 3,500, Tesla 12,000, BYD 52,800, Xiaomi 2,100