China’s retail penetration of NEVs in November is expected to be around 39.4 percent, up from 37.8 percent in October.
China’s retail sales of new energy vehicles (NEVs) are expected to reach a new high this month, according to the China Passenger Car Association (CPCA).
In November, retail sales of passenger NEVs in China are expected to be around 820,000 units, up 36.4 percent year-on-year and up 3.6 percent from October, estimates released today by the CPCA show.
China’s passenger NEV retail sales were a record 767,000 units in October, according to data previously released by the CPCA. The CPCA is expected to release preliminary data on October NEV sales early next month and final data in the middle of next month.
Survey shows that major automakers, which contribute about 80 percent of passenger car sales, began November with a small increase in retail targets from the previous month, the CPCA said.
According to preliminary projections, China’s passenger car retail sales stood at around 2.08 million units in November, up 2.3 percent from October and up 26 percent year-on-year, the CPCA said.
This means that the penetration rate of NEVs at retail is expected to be about 39.4 percent in November, up from 37.8 percent in October.
The overall discount rate in China’s passenger car market was about 19 percent in mid-November, the survey showed, with the discount level basically flat from 18.9 percent at the end of October, the CPCA said.
In order to preserve profits, some automakers slowed down their price cuts and made structural adjustments to their competition policies, but overall prices maintained a downward trend, the CPCA said.
The average daily retail sales of major automakers in the first week of November were 37,900, up 5.5 percent year-on-year but down 27.4 percent from the same period last month.
Average daily retail sales of major carmakers in the second week were 49,800 units, up 26.1 percent year-on-year but down 6.7 percent from the same week last month.
Average daily retail sales for the third week were 62,200, up 21 percent year-on-year and up 9 percent from a month earlier.
Average daily retail sales for the fourth week are expected to be 67,100, an increase of 26.3 percent year-on-year and a decrease of 13.5 percent from the same week last month.
Average daily retail sales for the fifth week are expected to be 159,100 units, up 37.7 percent year-on-year and up 74.5 percent from the same period last month.
