Monthly Archive: May 2023

China NEV retail up 101% YoY in May 1-14, CPCA data show

As price wars fade and consumer wait-and-see sentiment eases, pent-up demand has been released, the CPCA said.

China NEV retail up 101% YoY in May 1-14, CPCA data show-CnEVPost

(Image credit: CnEVPost)

Sales of new energy vehicles (NEVs) in China doubled in the first two weeks of May compared with the same period last year and also showed significant growth over the same period in April, although the Labor Day holiday at the beginning of the month may have brought some shock.

From May 1 to 14, China's retail sales of new energy passenger vehicles were 217,000 units, up 101 percent year-on-year and up 17 percent from the same period last month, according to data released today by the China Passenger Car Association (CPCA).

So far this year, China's retail sales of new energy passenger cars were 2.06 million units, up 41 percent year-on-year.

From May 1 to 14, wholesale sales of new energy passenger vehicles in China were 193,000 units, up 69 percent year-on-year and up 13 percent from April, according to the CPCA.

So far this year, wholesale sales of new energy passenger vehicles are up 32 percent year-on-year to 2.11 million units.

In the first two weeks of May, retail sales of all passenger vehicles in China were up 55 percent to 706,000 units, up 24 percent from the same period last month, the CPCA said.

So far this year, retail sales of passenger cars in China were up 3 percent to 6.6 million units.

This means that the penetration of NEVs at retail in China was 30.73 percent in the first two weeks of May and 31.20 percent so far this year.

In the first week of May -- May 1-7 -- the average daily retail sales of passenger cars in China were 54,000 units, up 67 percent from the same period last year and up 46 percent from the same period in April.

In the second week of May -- May 8-14 -- average daily retail sales of passenger cars were 47,000 units, up 44 percent year-on-year and up 5 percent from the same period in April.

As price wars faded, dealers' mindsets stabilized and consumers returned to rational spending, the CPCA said, adding that this eased wait-and-see sentiment and released pent-up demand.

During the Labor Day holiday, some local governments and manufacturers provided temporary subsidies, which helped the auto market grow in early May, and new orders from the holiday are expected to be released gradually, the CPCA said. This year, China's Labor Day holiday was from April 29 to May 3.

CPCA weekly data: NEV retail sales for 1st 2 weeks of May at 217,000

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VW reportedly in talks to use Huawei software in its cars in China

Volkswagen is one of the top-selling car companies in China, but it is lagging behind local carmakers in the country's NEV market.

(Image credit: CnEVPost)

Volkswagen has been in talks to use Huawei software in its cars in China, hoping to boost its efforts to gain a bigger share of the country's electric vehicle (EV) market, a Financial Times report said today.

Three people familiar with the situation said Volkswagen has spoken with Huawei about using the latter's technology in its cars, while another person said the German carmaker has held similar talks with other Chinese groups, according to the report.

Volkswagen is one of the top-selling car companies in China, but it lags behind local carmakers in the country's new energy vehicle (NEV) market.

In the January-April period, Volkswagen's joint venture in China, FAW-Volkswagen, sold 509,774 units at retail, up 1.4 percent from a year earlier, and came in second with an 8.6 percent share, according to the China Passenger Car Association (CPCA).

BYD sold 702,608 vehicles during the period, up 79.2 percent year-on-year, and ranked first with an 11.9 percent share.

Volkswagen's other joint venture in China, SAIC Volkswagen, sold 338,673 vehicles at retail from January to April, down 2.7 percent year-on-year, and ranked fifth with a 5.7 percent share.

In the NEV segment, BYD ranked first with a 38.1 percent share from January to April, while was second with a 9.6 percent share.

The NEV sales of Volkswagen's two joint ventures were not in the top 10 of the January-April list published by the CPCA. The No. 10 on the list is , with 33,529 units sold from January to April and a 1.8 percent share.

In July 2020, Volkswagen founded software company Cariad under former CEO Herbert Diess, but earlier this month it removed almost all of Cariad's top executives from their positions.

The Financial Times report cited a person familiar with the talks between Volkswagen and the Chinese companies as saying the discussions reflected how big the problem is for a group like VW, whose unique selling proposition is their scale and platforms.

Another person said Volkswagen is also aware that a Chinese software partner could appeal to Chinese customers who favor local suppliers and are obsessed with stories of technological self-reliance.

Although its software is seen as lagging behind some local players in China, Volkswagen is one of the most aggressive of foreign car companies seeking change.

Last October 13, Horizon Robotics, one of the leading providers of computing solutions for smart vehicles in China, announced that Cariad would form a joint venture with it to accelerate its efforts to develop smart driving technology locally.

Volkswagen plans to invest about 2.4 billion euros for a 60 percent stake in the joint venture, which is expected to close in the first half of 2023, according to a statement from Horizon Robotics.

VW to invest €2.4 billion to form JV with Chinese firm Horizon Robotics

The post VW reportedly in talks to use Huawei software in its cars in China appeared first on CnEVPost.

For more articles, please visit CnEVPost.

Tesla Leads Auto World In Operating Margin, Model Y Best Selling Car In World, 2 New Tesla Products — 17 Tesla Meeting Highlights

Tesla’s 2023 annual shareholder meeting was a few hours ago. Many of the things presented there were already presented in the company’s Master Plan Part 3, Investor Day presentation, and previous quarterly shareholder conference calls. However, let’s look at a few of the highlights. First of all, as many have been hoping, or at least […]
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