China NEV retail at 727,000 in Aug 1-24, up 6% year-on-year

China's new energy vehicle (NEV) retail sales growth slowed last week, dampening performance for the month so far.

From August 1-24, China's passenger NEV retail sales totaled 727,000 units, up 6 percent year-on-year and up 7 percent month-on-month.

For reference, from August 1-17, China's passenger NEV retail sales totaled 502,000 units, up 9 percent year-on-year and up 12 percent month-on-month.

Year-to-date, China's cumulative passenger NEV retail sales reached 7.18 million units, up 27 percent year-on-year.

Wholesale sales of passenger NEVs from August 1-24 totaled 711,000 units, an 11 percent increase year-on-year and a 3 percent rise month-on-month, according to the CPCA.

Year-to-date, China's cumulative passenger NEV wholesale sales reached 8.35 million units, up 33 percent year-on-year.

From August 1 to 24, China's total passenger vehicle retail sales were 1.285 million units, up 3 percent both year-on-year and month-on-month.

Year-to-date, China's cumulative retail sales of all passenger vehicles reached 14.03 million units, up 10 percent year-on-year.

This indicates that China's NEV retail penetration rate stood at 56.6 percent during August 1-24 and 51.87 percent year-to-date.

During the first week of August, August 1-10, China's average daily passenger vehicle retail sales reached 45,207 units, down 4 percent year-on-year but up 6 percent compared to the same period last month.

In the second week of August, August 11-17, China's average daily passenger vehicle retail sales were 59,068 units, up 8 percent year-on-year and up 10 percent compared to the same period last month.

During the third week of August, August 18-24, China's average daily retail sales of passenger vehicles reached 59,941 units, up 6 percent year-on-year but down 5 percent compared to the same period last month.

From August 1 to 24, China's total wholesale sales of passenger vehicles came in at 1.341 million units, up 12 percent year-on-year and up 5 percent compared to the same period last month.

From August 1-10, China's average daily wholesale sales of passenger vehicles were 40,253 units, up 16 percent year-on-year but down 3 percent compared to the same period last month.

From August 11-17, China's average daily wholesale sales of passenger vehicles were 62,690 units, up 22 percent year-on-year and up 19 percent compared to the same period last month.

From August 18-24, China's daily average wholesale sales of passenger vehicles were 71,368 units, up 2 percent year-on-year and up 3 percent month-on-month.

Year-to-date wholesale sales of passenger vehicles in China reached 16.87 million units, a 13 percent increase compared to the same period last year.