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Daily Archive: June 14, 2023
China NEV retail sales in Jun 1-11 at 160,000, down 4% from same period last month, CPCA data show
From June 1 to June 11, retail sales of all passenger vehicles in China were 425,000 units, down 10 percent year-on-year and down 25 percent from the same period last month.
(Image credit: CnEVPost)
The Chinese passenger car market was weak in the first two weeks of June, while the new energy vehicle (NEV) market performed slightly better.
From June 1 to June 11, retail sales of passenger NEVs in China were 160,000 units, up 18 percent year-on-year but down 4 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 passenger NEVs were 2,581,000 units, up 39 percent year-on-year.
From June 1 to June 11, wholesale sales of passenger NEVs in China were 144,000 units, up 18 percent year-on-year and up 3 percent from the same period last month, according to the CPCA.
Wholesale sales of passenger NEVs so far this year were 2,927,000 units, up 45 percent year-on-year.
From June 1 to June 11, retail sales of all passenger vehicles in China were 425,000 units, down 10 percent year-on-year and down 25 percent from the same period last month, the CPCA said.
So far this year, cumulative retail sales of passenger cars in China were up 3 percent year-on-year to 8.057 million units.
This means that from June 1 to June 11, the penetration of NEVs at retail in China was 37.6 percent, and 32.03 percent so far this year.
In the first week of June -- June 1-4 -- the average daily retail sales of passenger cars in China were 31,000 units, down 9 percent from a year ago and 42 percent lower than the same period last month.
In the second week of June -- June 5 to 11- - average daily retail sales of passenger cars were 43,000 units, down 10 percent year-on-year and down 14 percent compared to the same period in May.
The decline in sales in early June was mainly due to a high base from last year brought about by stimulus policies.
On May 31, 2022, China announced a 50 percent reduction in vehicle purchase tax for passenger vehicles of 2.0 liter and below displacement with a purchase date between June 1, 2022 and December 31, 2022 and with a vehicle price not exceeding RMB 300,000 ($ 41,900).
Before the policy took effect, China's purchase tax rate for internal combustion engine (ICE) vehicles was 10 percent, while the purchase of NEVs was exempt from purchase tax.
The stimulus policy left car sales high at the beginning of June last year, while the same period this year was a normal sales time, so a decline in sales is natural, the CPCA said today.
The CPCA did not release sales figures for specific car companies, but Li Auto shared some numbers yesterday.
Li Auto sold 11,900 units from June 1 to June 11, figures shared yesterday by the extended-range electric vehicle (EREV) showed. The company did not specify, though the figures are based on vehicle insurance registrations.
Tesla (NASDAQ: TSLA) sold 26,000 units in China from June 1-11, while NIO (NYSE: NIO) had 2,800 and XPeng (NYSE: XPEV) had 2,200, according to Li Auto.
($1 = RMB 7.1573)
The post China NEV retail sales in Jun 1-11 at 160,000, down 4% from same period last month, CPCA data show appeared first on CnEVPost.
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Tesla, NIO to take part in Shenzhen auto show starting Jun 16
This will be Tesla's first presence at an auto show in China since April 2021, and NIO will exhibit the ET5 Touring at the event and will hold a brief press conference on June 16.
(Image shows NIO's booth at the Shanghai auto show in April 2023. Credit: CnEVPost)
The southern Chinese city of Shenzhen will host an auto show starting this Friday, with Tesla (NASDAQ: TSLA) and new Chinese carmakers including NIO (NYSE: NIO) participating.
The 2023 Guangdong-Hong Kong-Macao Greater Bay Area International Auto Show (Auto Shenzhen 2023) will be held at the Shenzhen Convention and Exhibition Center starting June 16, where Tesla is one of the main exhibitors, according to information released today by the show's organizers.
This will be Tesla's first participation in an auto show in China since the Shanghai auto show in April 2021.
On April 19, 2021, on the first day of the last Shanghai auto show, a female owner got on the roof of a car at the Tesla booth and accused Tesla of brake failure. As of today, the dispute is still ongoing.
Since the drama, Tesla has not participated in any more auto shows in China, including the 2023 Shanghai auto show two months ago.
June 16 is the media day for the upcoming show, and general admission will be available from June 17 to June 24.
Tesla's booth is located in Hall 9 on the 1st floor, next to XPeng's (NYSE: XPEV) booth. The booths of Huawei-backed AITO, Smart, Leapmotor, Rising Auto, and Voyah are also in the area.
NIO will also be at the show and will be showcasing the ET5 Touring, according to the event's organizers.
The day before that show starts, NIO will launch the ET5 Touring in China on June 15, with its launch event starting at 19:00 Beijing time. The company will also launch the ET5 Touring and the new ES6 in Europe a few hours later on the same day.
NIO's booth at the Shenzhen auto show is in Hall 3, near the booths of Bentley and Lotus. The company will hold a press conference at the show on June 16 from 10:00 to 10:30.
The last show, Auto Shenzhen 2022, started on May 28, 2022 and ran through June 5. It was the first auto show in China last year.
NIO's booth at Auto Shenzhen last year was also in Hall 3, a two-floor area where the first floor displayed the full range of models, a transparent second-generation battery swap station and NIO Power's products. The second floor includes a relaxation area, NIO Cafe, and Joy Camp.
In addition to Tesla, NIO and XPeng, new energy vehicle (NEV) makers including BYD (OTCMKTS: BYDDY), Li Auto (NASDAQ: LI) and Neta will also participate in Auto Shenzhen 2023.
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