China retail sales of passenger NEVs rises 58.2% Y/Y in November
SimonSkafar


Retail sales of new energy passenger vehicles (NEVs) in China grew 58.2% Y/Y to 598,000 units in November, according to data released by the China Passenger Car Association (CPCA).
Compared to October, China's NEV retail sales grew 7.8%.
A look at China's passenger NEV retail sales:

With 434,000 units sold at retail in November, battery electric vehicles (BEVs) accounted for the majority of NEV sales. Plug-in hybrid vehicles (PHEVs) accounted for 27.4% of all NEV sales, with 164,000 units sold.
Retail sales of all passenger vehicles in China were 1.65M units in November, down 9.2% year-on-year and 10.5% from October. This is the first time since 2008 that figure has declined sequentially, CPCA stated.
At retail, China's NEVs reached a record 36.3% penetration rate, up 15 percentage points from 20.8% in the same month last year. NEVs penetration rate among local Chinese brands was 56.5%, luxury brands was 32.1%, and mainstream joint venture brands was only 5.2%.
From January to November, retail sales of new energy passenger vehicles in China were 5.03M units, up 100.1% Y/Y.
Elsewhere, China's passenger NEV wholesale sales reached a record 732K units in November, up about 71% Y/Y and 8% from October.
EV manufacturers include: NIO (NIO); XPeng (XPEV); Li Auto (LI); Tesla (TSLA); BYD (OTCPK:BYDDF).

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