Smart and Sustainable Electric Mobility
In the first three weeks of August, China's NEV penetration at retail stood at 37.06 percent, while it was 33.3 percent year-to-date.
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China's passenger NEV retail sales increased 38 percent year-on-year during August 1 to August 13, up 1 percent from the same period last month.
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China's passenger NEV retail sales stood at 88,000 units in August 1-6, up 38 percent year-on-year and up 8 percent from the same period last month.
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July is traditionally a slow season for the auto market, with hot weather restricting consumers from visiting stores, the CPCA said.
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The document lists 10 measures, three of which are directly related to support for the NEV sector, and specifically mentions support for the battery swap model.
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In the first two weeks of July, China's NEV penetration at retail stood at 38.9 percent, with year-to-date penetration at 32.8 percent.
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In the first week of July, China's NEV penetration at retail stood at 36.5 percent, with year-to-date penetration at 32.55 percent.
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In the first week of July, China's NEV penetration at retail stood at 36.5 percent, with year-to-date penetration at 32.55 percent.
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Chinese automakers have now crossed the inflection point for global influence, with local brands expected to hold 65 percent of the market share in China by 2030, AlixPartners said.
China, the world's largest auto market, has been dominated by foreign brands for many years, but that is about to change with the rapid growth of local brands in the past few years.
This year, China will become the world's largest auto exporter, and for the first time, local brands are expected to overtake overseas brands in market share, AlixPartners, a New York-based consulting firm, said in a report yesterday.
Chinese automakers have now crossed the inflection point for global influence, with local brands expected to hold 65 percent of the market in China by 2030, said Stephen Dyer, co-head of AlixPartners Greater China.
In the first half of 2020, local brands' monthly share of the Chinese auto market was at slightly more than 30 percent, with German and Japanese brands then at around 30 percent and 25 percent, respectively, according to the China Passenger Car Association (CPCA).
In October 2022, the share of local brands in the Chinese auto market reached 51.53 percent, the first time in history that the monthly share exceeded 50 percent, according to data monitored by CnEVPost.
While local brands are on the rise, foreign brands are gradually declining. In October last year, the share of German brands fell to 19.25 percent and Japanese brands fell to 18.94 percent.
In the first five months of this year, the share of local brands has remained at around 50 percent, including 50.24 percent in May, according to the CPCA.
Chinese automakers are poised to become a dominant force in the global auto industry in the coming years, thanks to government support for new energy vehicle (NEV) companies, automakers' focus on vehicle styling and customer orientation, and the accelerating pace of NEV launches, according to AlixPartners.
The business models evolved by Chinese automakers are also likely to be successful in Europe and the US, and Chinese automakers will become a dominant force in the global auto industry in the coming years, the report said.
However, industry disruption from Chinese manufacturers won't necessarily make quick waves in overseas markets as traditional car companies around the world are focused on dealing with the impact of innovation from Tesla, the report also noted.
The success of Chinese NEV brands provides a reference for global automakers, AlixPartners said, adding that local brands are better able to meet the needs of a new generation of tech-savvy consumers while maintaining a strong value for money and offering a better digital marketing experience than joint venture brands.
Models that are popular with Chinese consumers are also increasingly likely to be popular with global consumers, and multinational automakers must be prepared to fundamentally change their working models as Chinese-style competition eventually comes to their home markets as well, the report said.
AlixPartners expects auto sales in China to grow 3 percent in 2023 and then maintain a slow but steady pace to reach a level of 50 million units around 2050.
Retail sales of passenger cars in China were 20.54 million units in 2022, up 1.9 percent year-on-year, with NEVs contributing 5.67 million units, or 27.6 percent, according to the CPCA.
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Retail penetration of NEVs in China was 36.92 percent from June 1 to June 25, and 32.50 percent year-to-date.
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From June 1 to June 25, retail sales of passenger new energy vehicles (NEVs) in China were 500,000 units, up 13 percent year-on-year and up 15 percent from the same period last month, according to data released today by the China Passenger Car Association (CPCA).
So far this year, retail sales of passenger NEVs in China were 2.92 million units, up 35 percent year-on-year.
From June 1 to June 25, wholesale sales of passenger NEVs in China were 534,000 units, up 14 percent year-on-year and up 14 percent from the same period last month, according to the CPCA.
Wholesale sales of passenger NEVs so far this year were 3,317,000 units, up 40 percent year-on-year.
Between June 1 and June 25, retail sales of all passenger vehicles in China were 1.35 million units, down 1 percent year-on-year while up 9 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 to 8.986 million units.
This means that from June 1 to June 25, the penetration of NEVs at retail in China was 36.92 percent, and 32.50 percent year-to-date.
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.
In the third week of June -- June 12 to 18 -- average daily retail sales of passenger cars were 58,000 units, down 2 percent year-on-year, but up 21 percent compared to the same period in May.
In the fourth week of June -- June 19-25 -- average daily retail sales of passenger cars were 75,000 units, up 9 percent year-on-year and up 53 percent compared to the same period in May.
China began halving purchase taxes on mainstream internal combustion engine vehicles last June, causing sales to shift toward the beginning of the month, the CPCA said. The policy was not renewed when it expired at the end of last year.
By comparison, June is a normal sales month this year, so a dip at the beginning of the month is normal, the CPCA said.
Notably, China saw campaigns to promote auto consumption during this month, which, combined with dealers facing semi-annual performance reviews, is helping support June auto sales, according to the CPCA.
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