China New Energy Passenger Vehicle Retail Sales And Exports Both Surged In September

According to data released by the China Passenger Car Association, the retail sales of passenger cars in broad sense were 2.036 million units in September, up 4.7% YoY and 4.9% MoM. From January to September, the sales totalled 15.409 million units, up 2.1% YoY. In September, the retail sales of new energy passenger vehicles were 746,000 units, up 22.1% YoY and a 4.2% MoM. From January to September, the new energy passenger vehicle retail sales were 5.188 million units, up 33.8% YoY.

In terms of exports, data from the China Passenger Car Association showed that 91,000 new energy passenger vehicles were exported in September, up 107% YoY and 16% MoM, accounting for 25.4% of total passenger vehicle exports. Among them, pure electric vehicles accounted for 94.7% of new energy vehicle exports, of which A0+A00 pure electric vehicle share was 48%. With the scale advantage of China’s new energy and market expansion needs, more and more Chinese-made new energy product brands are going abroad, their recognition overseas continues to increase, and their service networks keep improving. As a result, the new energy vehicle export market is broadening and the future is promising.