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CPCA: May NEV Passenger Vehicle Retail Sales 950,000 Units, Down 7.5% YoY
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The China Passenger Car Association (CPCA) announced that in May, production of new energy passenger vehicles reached 1.394 million units, up 18.6% YoY and 15.3% MoM. In the first five months, cumulative production of new energy passenger vehicles reached 5.308 million units, up 0.9% YoY. In May, wholesale sales of new energy passenger vehicles reached 1.352 million units, up 10.6% YoY and 10.3% MoM. In the first five months, wholesale sales of new energy passenger vehicles totaled 5.306 million units, up 1.7% YoY. In May, wholesale sales of conventional fuel passenger vehicles reached 860,000 units, down 21% YoY and 2% MoM. In May, retail sales of new energy passenger vehicles reached 950,000 units, down 7.5% YoY and up 12.4% MoM. In the first five months, retail sales of new energy passenger vehicles totaled 3.697 million units, down 15.1% YoY. In May, retail sales of conventional fuel passenger vehicles reached 560,000 units, down 39% YoY and up 5% MoM. In May, exports of new energy passenger vehicles by manufacturers reached 424,000 units, up 112.6% YoY and 4.4% MoM. In the first five months, exports of new energy passenger vehicles reached 1.732 million units, up 117.3% YoY. In May, total retail sales in the national passenger vehicle market reached 1.51 million units, down 22.1% YoY and up 9.2% MoM. Since the beginning of the year, cumulative retail sales totaled 7.099 million units, down 19.5% YoY. In May, the domestic passenger vehicle market remained under overall pressure, with MoM improvement but pronounced structural divergence. The market has yet to achieve a substantive recovery. The modest rebound in May was mainly driven by the effectiveness of measures to curb excessive competition in the auto market, more stable promotional efforts by automakers that reduced consumer expectations of further price cuts, and the boost from the Beijing Auto Show, which helped release part of the previously delayed demand and resulted in a phased recovery at the retail end. (jl/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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