- China’s NEV retail penetration rate was 53.90 percent in March 1-23, and 47.30 percent year to date.
- From March 1 to March 23, retail sales of all passenger cars in China were 1.154 million units, an increase of 18 percent year-on-year and up 25 percent month-on-month.
The recovery of China’s new energy vehicle (NEV) market has continued this month.
In March 1-23, retail sales of Chinese passenger NEVs totaled 622,000 units, an increase of 30 percent year-on-year and up 40 percent month-on-month, according to data released today by the China Passenger Car Association (CPCA).
Cumulative retail sales of passenger NEVs this year reached 2.048 million units, an increase of 34 percent year-on-year.
Wholesale sales of passenger NEVs from March 1 to March 23 were 670,000 units, an increase of 35 percent year-on-year and up 30 percent month-on-month.
Cumulative wholesale sales of China’s passenger NEVs this year were 2.389 million units, an increase of 44 percent year-on-year.
From March 1 to 23, retail sales of all passenger vehicles were 1.154 million units, an increase of 18 percent year-on-year and up 25 percent month-on-month.
So far this year, cumulative retail sales of all passenger cars in China totaled 4.33 million units, an increase of 5 percent year-on-year.
This means that the retail penetration rate of NEVs in China was 53.90 percent from March 1 to March 23, and 47.30 percent so far this year.
In the first week of March, March 1-9, the average daily retail sales of passenger cars in China were 40,406, an increase of 14 percent year-on-year and up 52 percent compared to the same period last month.
In the second week of March, March 10-16, the average daily retail sales of passenger cars in China were 58,329, a year-on-year increase of 34 percent and an increase of 19 percent over the same period last month.
In the second week of March, March 17-23, the average daily retail sales of passenger cars in China were 54,643, a year-on-year increase of 8 percent and an increase of 11 percent over the same period last month.
From March 1 to March 23, wholesale sales of all passenger cars in China totaled 1.321 million units, an increase of 16 percent year-on-year and up 33 percent month-on-month.
From March 1 to March 9, the average daily wholesale sales of passenger cars in China were 44,822, an increase of 26 percent year-on-year and up 84 percent month-on-month.
From March 10 to March 16, the average daily wholesale sales of passenger cars in China were 67,234, an increase of 24 percent year-on-year and up 28 percent month-on-month.
From March 17 to March 23, the average daily wholesale sales of passenger cars in China were 63,897, an increase of 1 percent year-on-year and up 10 percent month-on-month.
So far this year, the wholesale sales of passenger cars in China has reached 5.186 million units, an increase of 13 percent year-on-year.
BYD’s car sales target for 2025 is 5.5 million units, including more than 800,000 in overseas markets, according to local media.
