CPCA forecasts 1.11 million NEV retail sales in China for September
A forecast from China's passenger car association puts September retail sales of new energy vehicles at about 1.11 million units, equal to 65.7 percent of all passenger cars sold.
- 1.11 million units
- 65.7%
- 1.69 million units
- -24.6%
What Happened
The China Passenger Car Association expects roughly 1.11 million new energy vehicles to be sold at retail in China in September, which would give NEVs a 65.7 percent share of the passenger car market. The association is the industry body that compiles and publishes China's passenger vehicle sales data.
65.7%
The association's projected slice of China's passenger car market for new energy vehicles in September.
- about 1.69 million units
- -24.6%
The association put total passenger car retail for the month at about 1.69 million units, which would be a 24.6 percent fall from a year earlier. Compared with August, volumes are expected to rise 9.7 percent.
The CPCA framed its NEV number as the product of two forces: buyers taking delivery of new models, and a seasonal effort across the industry to hit quarterly sales targets. The association published the forecast on September 17.
Why this matters
The projection shows electrified models taking close to two-thirds of China's passenger car sales, a striking share of a major vehicle market. It also lands against a shrinking overall market, with total retail expected to fall 24.6 percent from a year earlier even as volumes climb 9.7 percent from August.
Terms in This Story
- NEV
- New energy vehicle, a category used in China for vehicles powered mainly by electricity, including battery-electric and plug-in hybrid models.
- penetration rate
- The share of total vehicle sales accounted for by a particular type of vehicle, here new energy models.
- CPCA
- China Passenger Car Association, an industry body that tracks and publishes passenger car sales data for the Chinese market.
A brief summary; details can be imperfect — always verify against the original source.