China’s wholesale sales of passenger new energy vehicles (NEVs) reached an estimated record high of 1.228 million units in September, according to a recent report by the China Passenger Car Association (CPCA). This marks a significant 48% increase compared to the same period last year and a 17% uptick from August figures. It is the second time that monthly NEV wholesale sales in China have surpassed the one million unit mark.
The surge in sales is attributed to the market entering its peak season and the impact of government subsidy policies aimed at encouraging the replacement of old vehicles. As of September 25, more than 1.13 million applications had been filed for replacement subsidies, indicating strong consumer interest driven by these incentives.
NEVs in China include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles. Detailed figures for each category are expected to be released later this month.
Among major manufacturers, BYD led the market with wholesale sales of 417,603 units in September. Geely followed with 91,134 units, while Tesla China’s sales reached 88,321 units for the month.
The CPCA noted that manufacturers with wholesale sales exceeding 10,000 units contributed 90.8% of all NEV wholesale sales in August, and similar trends are expected for September. The continued growth underscores China’s expanding NEV market and the effectiveness of policies aimed at boosting electric vehicle adoption.
Source: CNEVPOST
