China’s new energy vehicle (NEV) sales experienced significant growth last month as the market entered its peak season.
The China Passenger Car Association (CPCA) reported that wholesale sales of passenger NEVs in September are expected to reach 1.228 million units, marking a 48 percent increase year-on-year and a 17 percent rise from August.
In August, manufacturers with wholesale sales exceeding 10,000 passenger NEVs accounted for 90.8 percent of total NEV wholesale sales, according to the CPCA. The estimated sales for these manufacturers in September are projected at approximately 1.11 million units.
Based on the sales structure from the previous month, total passenger NEV wholesale sales in China for September are anticipated to be around 1.22 million units, making it the second instance of monthly NEV wholesale sales surpassing 1 million units.
NEVs in China encompass battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles, with specific figures expected to be released later this month
. The boost in NEV sales is attributed to a subsidy policy promoting the replacement of old vehicles, which has become effective in September. As of September 25, over 1.13 million applications have been submitted for these replacement subsidies, reflecting a significant push to enhance auto consumption, the CPCA noted.
