Retail sales of new energy vehicles in China reached 753 000 units from October 1 to 25, marking a 13 percent year-on-year decline. This figure represents a 1 percent decrease compared to the same period in September, according to data from the China Passenger Car Association.
Year-to-date retail sales for NEVs reached 8.51 million units, down 13 percent year-on-year. The retail penetration rate for these vehicles stood at 65.7 percent during the first 25 days of October, which is lower than the 67 percent recorded in September.
In contrast to retail performance, wholesale sales of NEVs grew by 3 percent year-on-year to 1.008 million units during the same period. Year-to-date wholesale volumes reached 12.46 million units, reflecting a 9 percent increase compared to the previous year.
The broader passenger car market saw retail sales drop 26 percent year-on-year to 1.145 million units. Total inventories at manufacturers specializing in NEVs rose to 880 000 units by the end of September, an increase of 30 000 units from the previous month.
