Total of 44,000 pure electric vehicels were sold in Germany in March. Lynk&Co was the winner among Chinese brands with 356% growth
The post Nio registered 122 cars in Germany in March, up 89% appeared first on CarNewsChina.com.
Daily Archive: April 6, 2023
Uber & Lyft Continue To Expand EV Rideshare Availability
Among vehicles on the road, cars going around for hours at a time giving different people rides are among the most important. Perhaps most importantly, it helps to reduce their carbon footprint, as EVs produce fewer emissions than non-electric cars. They are also less expensive to run and maintain than traditional vehicles, resulting in cheaper […]
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Tesla Teases Three New EVs Including Compact Car With 53-kWh LFP Pack
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China’s Mar NEV retail sales at 549,000 units, preliminary CPCA data show
This was up 27 percent from February, but below the CPCA's estimate of around 560,000 units announced in late March.
Retail sales of new energy passenger vehicles (passenger NEVs) in China were 549,000 units in March, up 5 percent year-on-year and up 27 percent from February, preliminary figures released today by the China Passenger Car Association (CPCA) show.
Notably, the CPCA's estimate released on March 24 showed that retail sales of passenger NEVs in China in March were expected to be around 560,000 units.
The lower figure released today means that the NEV market performed weaker in the last week of March than the CPCA had expected.
In the first quarter, retail sales of passenger NEVs in China were 1.139 million units, up 15 percent from a year earlier, the CPCA said today.
Wholesale sales of passenger NEVs in China rose 32 percent to 599,000 units in March, up 21 percent from the previous month.
In the first quarter, wholesale sales of passenger NEVs in China were 1.483 million units, up 24 percent from a year earlier.
Retail sales of all passenger vehicles in China were 1.596 million units in March, flat from a year ago and up 17 percent from last February, according to the CPCA.
This means that the penetration of passenger NEVs at retail in March was 34.4 percent, up 2.8 percentage points from 31.6 percent in February.
In the first quarter, retail sales of all passenger vehicles in China were 4.275 million units, down 13 percent year-on-year.
Wholesale sales of passenger vehicles in China were 1.955 million units in March, up 7 percent year-on-year and up 22 percent from February.
In the first quarter, China's passenger car wholesale sales were 5.021 million units, down 8 percent year-on-year.
With a large number of car companies stepping up their promotions in March, demand for cars was concentrated, putting pressure on the normal order of the market, the CPCA said.
From the performance of the first four weeks of March, the conversion rate of customer traffic is not high, consumers were in a wait-and-see mood, and the overall demand was weak, the CPCA said.
Here are the CPCA's weekly retail sales data for the Chinese passenger vehicle market in March, as announced today:
Average daily retail sales of passenger vehicles in the first week of March were 31,000 units, down 16 percent year-on-year and down 14 percent from the same period in February.
Average daily sales for the second week of March were 37,000 units, down 18 percent year-on-year and down 8 percent from the same period in February.
Average daily sales for the third week of March were 41,000 units, up 10 percent year-on-year and up 7 percent from the same period in February.
Average daily sales for the fourth week of March were 46,000 units, up 18 percent year-on-year but down 35 percent from the same period in February.
Sales for the fifth week of March were reported at 115,000 units, up 3 percent year-on-year and up 63 percent from the same period in February.
China NEV insurance registrations for week ending April 2: BYD 46,218, Tesla 14,275, NIO 2,730
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BMW, Stellantis In Talks With Tesla’s Battery Supplier Over New US Plants
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Price wars fail to boost China’s auto consumption
With consumers in a wait-and-see mood, orders and transaction rates did not increase significantly, and auto demand recovered less than expected, the CADA said.
Many automakers in China launched rare price wars in March to try to boost sales. But these moves do not seem to have achieved the results they wanted.
In March, following significant promotions by automakers in Hubei province, dozens of provinces and cities, including Beijing, Tianjin, Shanghai and Zhejiang, offered deals that gave dealership store traffic a quick boost, the China Automobile Dealers Association (CADA) said in an April 3 report.
However, orders and transaction rates did not increase significantly as consumers were in a wait-and-see mood, and auto consumer demand did not recover as expected, the CADA said.
The Vehicle Inventory Alert Index for China's auto market was 62.4 percent in March, down 1.2 percentage points from a year ago but up 4.3 percentage points from February, according to the CADA report.
The index's break-even value is 50 percent, and a reading above that benchmark means the auto distribution industry is in contraction territory, according to the report.
China's switch to the 6b emissions standard was not the main reason for the wave of price cuts, the CADA said, adding that most dealers said their inventories of 6a-based vehicles are not high and could be cleared by the end of June.
However, there are still a large number of 6b-based vehicles that do not meet RDE (real-world driving emission) standards, and with lower-than-expected sales in the first quarter, these vehicles face challenges in completing inventory clearance by the end of June, the CADA said.
In March, vehicle prices were volatile and customer wait-and-see sentiment was strong, resulting in lower orders and turnover rates and a decline in dealer profitability, according to the report.
More than 60 percent of dealers said they met less than 80 percent of their sales targets in the first quarter. Of those, 20.5 percent of dealers achieved 70-80 percent of their sales targets and 46.0 percent achieved less than 70 percent, the CADA said.
Separately, the CADA said in another report on April 3 that the March auto consumption index was 72.5, down from 74.6 percent in February.
March auto sales did not meet expectations, and dealers predict that without major policy changes in April, auto sales will be essentially unchanged from March, the CADA said.
In March, the demand sub-index of the auto consumption index was 68.2, down from 73.3 in February, the CADA said, adding that this signals a decline in demand for cars in April.
China's Mar passenger NEV wholesale sales up 20% MoM to 600,000, CPCA estimates show
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BYD Destroyer 07 sedan spied in China. It is based on the BYD Han
The Destroyer 07 is a Han-based sedan with a DM-i PHEV system. It will hit the market this year.
The post BYD Destroyer 07 sedan spied in China. It is based on the BYD Han appeared first on CarNewsChina.com.
2023 Ford E-Transit Courier Debuts In Europe With 100-kW Motor
The all-new compact van can carry two Euro pallets.
