China’s retail penetration of NEVs was 41.6 percent in March, up 5.8 percentage points from 35.8 percent in February.
China’s retail sales of new energy-vehicles (NEVs) rebounded last month as disruptions from the New Year holiday subsided.
Retail sales of passenger NEVs in China totaled 709,000 units in March, up 29.5 percent from a year earlier and up 82.5 percent from February, according to data released today by the China Passenger Car Association (CPCA).
The figure is slightly higher than the 698,000 units of preliminary data released by the CPCA earlier this month, and lower than the 750,000-unit estimate it released at the end of last month.
Battery electric vehicles (BEVs) accounted for 60.4 percent of all NEV retail sales in March at 428,000 units. That’s up 10.05 percent year-on-year and up 94.4 percent from February.
Plug-in hybrid vehicles (PHEVs) accounted for 281,000 units of retail sales in March, contributing 39.6 percent of all NEV retail sales. That was up 75.4 percent year-on-year and up 67.0 percent from February.
China’s passenger vehicles, including sedans, SUVs and MPVs, retailed 1,687,000 units in March, up 6.0 percent year-on-year and up 52.8 percent from February.
China’s NEV penetration at retail stood at a record 41.6 percent in March, up 7.6 percentage points from 34.0 percent a year earlier and up 5.8 percentage points from 35.8 percent in February.
NEV penetration at retail for local brands was 63.3 percent in March, compared with 28.4 percent for luxury brands and 7.4 percent for mainstream JV brands, according to the CPCA.
Wholesale sales of China’s passenger NEVs were 810,000 units in March, up 31.1 percent year-on-year and up 81.3 percent from February, the CPCA said.
NEV penetration at wholesale in March was 37 percent, up 6 percentage points from 31 percent a year earlier and up 2.5 percentage points from 34.5 percent in February.
Penetration of NEVs from local Chinese brands in March was 51.1 percent at wholesale, compared with 33.6 percent for luxury brands and 6.1 percent for mainstream JV brands.
Passenger NEVs exported from China amounted to 120,000 units in March, up 70.9 percent year-on-year and up 52.8 percent from February, contributing 29.7 percent of passenger car exports.
BEVs contributed 82.3 percent of March NEV exports, according to the CPCA.
BYD chairman expects China’s NEV penetration to exceed 50% within next 3 months
