Smart and Sustainable Electric Mobility
Deutsche Bank expects the latest round of price cuts to spur a big rebound in EV orders, with at least eight automakers already offering some type of price discount or promotion so far.
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Retail sales of new energy passenger vehicles in China were 332,000 units in January, lower than the CPCA's estimate of 360,000 units announced on January 28.
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Tesla's deliveries in China in January were down 36 percent from 41,926 vehicles in December.
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Chinese companies, including CATL and BYD, saw explosive growth in the power battery market, while South Korean and Japanese manufacturers were not performing as brightly.
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The CPCA's preliminary figures were 8.8 percent below its January 28 estimate of 1.36 million units, implying a worse-than-expected performance in the final days of January.
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This represents a 10.37 percent increase over the 59,845 vehicles sold in the same month last year and an 18.38 percent increase over the 55,796 vehicles sold in December.
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Sales of BYD's main budget models fell less because they have accumulated relatively more orders, analysts said.
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GAC Aion sales dropped to 10,206 units in January, and its local counterpart, Leapmotor, also saw sales plunge more than 80 percent to 1,139 units.
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BYD's NEV sales ended a 10-month streak of growth, as the Chinese New Year holiday took its toll on sales.
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Neta's flagship sedan Neta S delivered 1,517 units in January, for a cumulative total of 3,722 units since deliveries began in late November.
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