Chinese NEV Sales Surpass Million-Mark Again, Take 52 Pct of New Car Market

Source: Nio

According to preliminary data released by the China Passenger Car Association (CPCA) and reported by Chinese automotive outlet CnEVPost, retail sales of so-called “new energy vehicles” (NEV) across China totalled 1.277 million in November, up 52 per cent from the same month in 2023, and up 7 per cent on October of this year.

In China, electrified vehicles are clumped together under the NEV banner, and include battery electric vehicles (BEVs), plug-in hybrid EVs (PHEVs), and fuel cell EVs (FCEVs).

With another million passenger NEVs added to the roads in November, China has so far added a total of 9.61 million new units so far this year, an increase of 41 per cent compared to the same period last year.

NEVs also accounted for 52 per cent of all new passenger car sales in China in November, and just over 47 per cent for the year-to-date.

Wholesale sales of passenger NEVs were also up in November, amounting to 1.476 million units, up 53 per cent from a year earlier and up 6 per cent on October.

For the first 11 months of 2024, wholesale sale of passenger NEVs has already reached 10.75 million units, up 39 per cent from the same period a year earlier.