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China September NEV retail sales fall 16.7% as penetration hits record 67%, CPCA data shows

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China September NEV retail sales fall 16.7% as penetration hits record 67%, CPCA data shows

China's retail sales of new energy vehicles (NEVs) fell 16.7% year-on-year to 1.084 million in September, but rose 7.8% from August, according to data released by the China Passenger Car Association (CPCA) on Monday.

The decline marked the ninth consecutive month of falling NEV retail sales from a year earlier. Sales in the first 9 months totaled 7.758 million, down 12.8%.

NEVs accounted for a record 67.0% of passenger vehicle retail sales in September, up 9.1 percentage points from a year earlier and 1.7 percentage points from August.

NEV penetration reached 84.5% among domestic Chinese brands and 44.9% among luxury brands, compared with just 15.9% among mainstream joint-venture brands.

NEV retail sales at domestic brands fell 19% year-on-year in September, while those at mainstream joint-venture brands rose 36% and luxury brands declined 8%. Domestic A00-segment electric vehicles suffered steep declines due to unfavorable subsidy policies, the CPCA said.

NEV wholesale sales rose 11.3% year-on-year and 10.0% month-on-month to 1.666 million in September. NEV penetration at the wholesale level reached a record 65.4%, up 12 percentage points from a year earlier.

Battery electric vehicles (BEVs) were the only powertrain category to record wholesale growth. BEV wholesale sales rose 18.3% year-on-year to 1.126 million in September, while plug-in hybrid electric vehicle (PHEV) sales slipped 0.1% to 423,000 and extended-range electric vehicle (EREV) sales fell 4.0% to 117,000.

Exports continued to support the industry. 7% year-on-year to 917,000 in September, accounting for 36% of automakers' passenger vehicle sales.



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