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China NEV retail sales fall 9% in first 20 days of September, outperforming broader market

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China NEV retail sales fall 9% in first 20 days of September, outperforming broader market

China's retail sales of new energy vehicles (NEVs) fell in the first 20 days of September but continued to outperform the broader market as gasoline-powered vehicles suffered a steeper decline.

Retail sales of passenger NEVs totaled 596,000 from September 1-20, down 9% year-on-year but up 14% from the same period last month, according to data released Wednesday by the China Passenger Car Association (CPCA).

Year-to-date retail sales of passenger NEVs came in at 7.27 million units, down 12% year-on-year.

NEVs accounted for 67.9% of passenger car retail sales from September 1-20.

Over the same period, wholesale NEV sales by China's passenger car manufacturers totaled 740,000, up 8% year-on-year and 25% from the same period last month.

NEVs accounted for 73.9% of passenger car wholesale sales from September 1-20.

The broader auto market remained under pressure. China's passenger car retail sales totaled 878,000 from September 1-20, down 22% year-on-year but up 8% from the same period last month.

In the first week of September, from September 1-6, daily retail sales averaged 35,050, down 19% year-on-year and 1% from the same period in August.

In the second week, from September 7-13, daily retail sales averaged 43,515, down 26% year-on-year but up 8% from the same period in August.

In the third week, from September 14-20, daily retail sales averaged 51,824, down 20% year-on-year but up 13% from the same period in August.

001 million from September 1-20, down 19% year-on-year but up 21% from the same period last month.



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