- August BEV sales rose 17.2 percent year-on-year, while hybrid vehicle sales fell 6.8 percent, marking the second consecutive month of year-on-year decline.
- China’s NEV retail penetration rate reached 55.2 percent in August, up 1.5 percentage points from the same period last year.
China’s passenger new energy vehicle (NEV) retail sales rebounded above 1 million units in August, as battery electric vehicle (BEV) sales maintained growth while hybrid vehicle sales declined.
Passenger NEV retail sales reached 1.101 million units in August, marking a 7.5 percent year-on-year increase and an 11.6 percent rise from July, according to data released today by the China Passenger Car Association (CPCA).
This figure surpasses the CPCA’s preliminary data of 1.08 million units released earlier this month and its estimate of 1.079 million units published at the end of last month.
This marks the rebound of China’s passenger NEV retail sales above the 1 million unit mark after falling below it in July.
Battery electric vehicles (BEVs) continued to grow, with August retail sales reaching 686,000 units — a 17.2 percent year-on-year increase and a 13.0 percent rise from July.
BEVs accounted for 62.3 percent of total NEV retail sales in August, up 8 percentage points from July.
Hybrid vehicles, including plug-in hybrid electric vehicles (PHEVs) and extended-range electric vehicles (EREVs), recorded retail sales of 414,000 units in August, down 6.8 percent year-on-year while up 9.0 percent month-on-month.
This marks the second consecutive month of year-on-year decline in hybrid vehicle retail sales, according to data compiled by CnEVPost.
After excluding EREVs, PHEV retail sales came in at 314,000 units in August, accounting for 28.5 percent of total NEV retail sales. This represents a 7.3 percent year-on-year decrease but a 13.1 percent increase compared to July.
EREV retail sales totaled 100,000 units in August, contributing 9.1 percent of total NEV retail sales. This represents a 0.3 percent year-on-year increase but a 1.4 percent decrease compared to July.
China’s passenger vehicle retail sales, including sedans, SUVs (sport utility vehicles), and MPVs (multi-purpose vehicles), totaled 1.995 million units in August, marking a 4.6 percent year-on-year increase and an 8.2 percent rise from July.
China’s NEV retail penetration rate reached 55.2 percent in August, up 1.5 percentage points year-on-year and 1.2 percentage points month-on-month.
Domestic brands achieved a 76 percent NEV retail penetration rate in August, while luxury brands reached 31.9 percent and mainstream joint-venture brands recorded 6.6 percent.
China’s passenger NEV wholesale sales totaled 1.282 million units in August, up 22.3 percent year-on-year and up 7.8 percent month-on-month.
The wholesale penetration rate for NEVs in August was 52.2 percent, rising 3.3 percentage points year-on-year but declining 1 percentage point month-on-month.
Domestic Chinese brands achieved a wholesale NEV penetration rate of 66.2 percent in August, compared to 41.9 percent for luxury brands and 7.1 percent for mainstream joint-venture brands.
Passenger NEVs exported from China reached 204,000 units in August, surging 102.7 percent year-on-year but declining 6.5 percent month-on-month, accounting for 40.9 percent of total passenger vehicle exports.
BEVs accounted for 66 percent of NEV exports in August, down from 80.4 percent in the same period last year.
Exports of A0-class and A00-class BEVs represented 38 percent of NEV exports, up from 23 percent in the same period last year.
