New-energy passenger car sales in China fell about 10 per cent in August, yet a sharp drop in petrol car sales lifted the electric share of the market to a record 65.2 per cent, according to final data from the China Passenger Car Association.
How far did retail sales fall?
Retail sales of new-energy vehicles, or NEVs, reached 1.005 million in August. That figure was down 10.1 per cent from a year earlier, though it rose 5.7 per cent from July.
Moreover, this marked the eighth month in a row of year-on-year declines. Over the first eight months, retail sales totalled 6.674 million, down 12.1 per cent from a year earlier.
The August total also came in below the 1.069 million the CPCA had reported in its earlier preliminary reading.
Why did the electric share still hit a record?
Despite the fall in sales, NEVs kept gaining ground. Their retail penetration reached a record 65.2 per cent in August, up 9.9 percentage points from a year earlier and 0.1 points from July.
The gain came largely because petrol car sales nearly halved. Indeed, total passenger car retail sales fell 23.6 per cent from a year earlier to 1.541 million, though they rose 5.5 per cent from July. Year-to-date sales stood at 11.716 million, down 20.8 per cent.
Which powertrains held up best?
Battery electric vehicles were the only category to grow. BEV retail sales totalled 698,000 in August, up 0.8 per cent from a year earlier and 7.9 per cent from July.
By contrast, plug-in hybrids fell 29.6 per cent year on year to 226,000, although they rose 3.1 per cent from July. Extended-range electric vehicles dropped 22.2 per cent to 81,000, down 4.6 per cent from July.
How strong were exports?
Exports continued to support factory output. China’s passenger car exports totalled 888,000 in August, up 77.8 per cent from a year earlier.
NEV exports rose even faster, surging 154.7 per cent year on year to 518,000, though they slipped 5.0 per cent from July. As a result, they made up 58.4 per cent of passenger car exports, up 18 percentage points from a year earlier.
Meanwhile, NEV wholesale sales reached 1.51 million in August, up 16.4 per cent year on year and 3.9 per cent from July. NEVs accounted for 64.2 per cent of passenger car wholesale sales, up 12 points from a year earlier.
Who led the sales rankings?
BYD kept a commanding lead in August, with domestic NEV retail sales of 233,943. Geely Auto and Leapmotor followed, with sales of 110,560 and 84,874 respectively.
Next came Changan Automobile with 57,874, SAIC-GM-Wuling with 53,087 and 테슬라 with 50,047. Chery sold 46,391, while Huawei-backed HIMA recorded 42,101, Li Auto 37,679 and Nio 35,655.
목록 아래쪽에서, p posted retail sales of 30,982 and 샤오 미 테크 sold 30,153.
What did the CPCA expect next?
China’s emerging automakers held a 26.0 per cent share of the NEV retail market in August, up 5.5 percentage points year on year. The CPCA said Leapmotor and Nio drove that gain.
Furthermore, the association said the market was starting to recover from a trough in August. Consumption support policies and a more favourable comparison base should help build momentum for the traditional peak season in September and October.
