- For the current month, retail sales of new energy passenger vehicles in China are expected to reach 520,000 units, up 108.3% Y/Y and up 7% from July, as per China Passenger Car Association report.
- All passenger vehicle sales in China are expected to be 1.88M units in August, up 29.6% Y/Y and up 3.4% M/M.
- This implies China's new energy vehicle (NEV) penetration at retail was 27.7% in August, up from 26.7% in July.
- A quick look at monthly sales trend:
- In the second half of the year, supply is expected to continue to increase as leading NEV companies upgrade their production lines and expand capacity..
- New products launch in 2H22 also expected to play a strong role in supporting the Chinese auto market during the year.
- On Thursday, Tesla ( TSLA ) slashed the delivery waiting time for its Model 3 and Model Y cars in China announced after upgrading production lines at Shanghai plant.
For further details see:
China to see 520,000 retail sales of passenger NEVs in August - CPCA