China NEV sales declined 45.4% YoY in Oct: CPCA

SHANGHAI, Nov 11 (SMM) – China’s new energy vehicle sales declined in October for a fourth straight month since the latest subsidy cuts took effect in late June, showed an survey from rom the China Passenger Car Association (CPCA).

Wholesale sales of NEVs in China dropped 45.4% from a year ago to 66,000 units last month, showed data from the industry association. The sales rose 1% from September.

For China’s overall auto market, tepid performance continued in October, when saw retail sales of sedans, multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs) dropping 5.7% year on year to 1.84 million units, according to data from the CPCA.

The passenger car sales amounted to 16.63 million units in the first 10 months of 2019, down 8.3% from the same period last year.