China’s NEV sales down 45.4% YoY, but up 1% MoM in October
China Passenger Car Association (CPCA) data shows that China’s wholesale new energy vehicle (NEV) sales declined 45.4% from a year ago to 66,000 units in October. This marked the fourth consecutive month of decline since the latest subsidy cuts took effect in late June.
Wholesale sales of NEVs in China increased 1% from September, showed data from the industry association.
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Retail sales of sedans, multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs) amounted to 1.84 million units, marking a 5.7% year-on-year decline.
The passenger car sales stood at 16.63 million units in the first 10 months of 2019. That was down 8.3% from the same period last year.
In another update from Shanghai Metals Market, the China Passenger Car Association (CPCA) said that retail sales of sedans, multi-purpose vehicles (MPVs), sport utility vehicles (SUVs) and minivans stood1.87 million units in October. That was down 6% from a year earlier.
Retail sales of passenger vehicles stood at 1.81 million units in September, down 6.6% from a year earlier.
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