China's passenger new energy vehicle (NEV) retail sales totaled 1.148 million units in October, down 10% from a year earlier and narrowing the pace of decline from September, preliminary figures showed.

The China Passenger Car Association (CPCA) released the data in its latest weekly report on Wednesday, showing October NEV retail sales rose 6% from September.

This marked the tenth consecutive month of year-on-year decline for China's passenger NEV retail sales, though the drop narrowed from 16.7% in September.

The CPCA had previously projected on October 23 that October NEV retail sales would come in at about 1.07 million units, a year-on-year drop of 16.5%.

The NEV retail penetration rate stood at 67.8% in October, surpassing September's record high of 67.0% and beating the earlier forecast of 66.9%.

In the first 10 months of the year, cumulative NEV retail sales fell 12% year-on-year to 8.907 million units.

Preliminary data showed passenger NEV wholesale volume by automakers rose 12% year-on-year and 8% month-on-month to 1.807 million units in October, resulting in a wholesale penetration rate of 68.6%. Cumulative wholesale volume in the first 10 months reached 13.26 million units, up 10% from a year earlier.

Most NEV brands currently lack blockbuster models, yet automakers still need to maintain a steady production pace and account for production and sales targets, leading to a wide gap between externally estimated order figures and companies' actual sales, the CPCA said.

693 million units, though they gained 5% from the prior month. 03 million units.

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