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China NEV sales hit year-to-date high in September as export surge offsets domestic decline, CAAM data shows

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China NEV sales hit year-to-date high in September as export surge offsets domestic decline, CAAM data shows

China's new energy vehicle (NEV) sales rose 13.6% year-on-year in September, as strong exports continued to offset weakness in the domestic market.

NEV sales, including domestic sales and exports, reached 1.823 million units in September, the highest monthly total this year, according to data released by the China Association of Automobile Manufacturers (CAAM) on Monday.

That was up 11.0% from August's 1.643 million units, though year-on-year growth slowed from 17.8%, according to data compiled by CnEVPost.

NEVs accounted for 61.6% of total vehicle sales, up from 60.6% in August and remaining above 60% for a third consecutive month.

CAAM's NEV figures cover both passenger and commercial vehicles, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and fuel cell vehicles.

BEVs remained the main driver of growth. September BEV sales reached a record 1.277 million units, up 20.7% year-on-year and 10.0% from August.

PHEV sales totaled 546,000 units, unchanged from a year earlier and up 13.3% from August.

NEV sales in the first 9 months totaled 12.47 million units, up 11.1% year-on-year and accounting for 53.6% of total vehicle sales.

Exports were the key source of growth. NEV exports reached 571,000 units in September, up 160% year-on-year and 8.6% from August.

That included 352,000 BEVs, up 130% year-on-year, and 219,000 PHEVs, up 220%.

Exports of conventional fuel vehicles rose 12% year-on-year to 482,000 units in September. Based on those figures, NEVs accounted for about 54% of total vehicle exports, exceeding half for a fourth consecutive month.


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