China NEV Monthly Sales (CPCA) 2024-2026
Month
2024
2025
2026
January
673,536
744,052
596,000
February
381,626
686,000
464,000
March
718,498
991,000
848,000
April
675,484
905,000
849,000
May
796,811
1,021,000
950,000
June
856,354
1,111,000
1,050,000
July
881,021
987,000
August
1,024,848
1,101,000
September
1,122,467
1,296,000
October
1,195,018
1,282,000
November
1,266,990
1,321,000
December
1,302,599
1,337,000
China passenger NEV retail sales — CPCA
2024
2025
2026
*Jun 2026 figure is CPCA estimate
Source: CPCA
© CnEVPost
- CPCA expects China’s June passenger NEV retail sales to rise 10.5% from May, with penetration likely climbing to about 63.6%.
- CPCA also projects China’s overall passenger vehicle retail sales at about 1.65 million units in June, up 9.3% from the prior month.
China’s June passenger new energy vehicle (NEV) retail sales are expected to reach about 1.05 million units, up 10.5% from May, the China Passenger Car Association (CPCA) said Thursday.
June’s NEV retail penetration rate is likely to climb to around 63.6%, setting a fresh record.
CPCA also projects China’s overall passenger-vehicle retail sales at about 1.65 million units in June, up 9.3% from the prior month.
This means the divergence between NEVs and traditional fuel vehicles continues to widen, CPCA said.
Support for June’s recovery comes from multiple fronts. The trade-in policy is steadily taking effect, while a wave of major new models has hit the market.
The Dragon Boat Festival holiday, combined with promotions for China’s “618” e-commerce shopping festival, has created a temporary window for discounts.
A CPCA survey shows that leading automakers, which account for about 70% of market sales, have set June retail targets up about 10% from the previous month.
At the half-year closing point, automakers have a clear intent to actively push harder to hit their targets.
CPCA expects June’s market to follow a pattern of a steady start and a month-end sprint.
Daily retail sales averaged just 33,000 units in the first week of June, a relatively sluggish showing. As “618” promotions kicked in, the second week’s daily average rebounded to 44,000 units.
The third week coincided with the Dragon Boat Festival, with market activity picking up markedly and daily retail sales expected to average about 57,000 units.
The fourth week is a full week after the holiday, and combined with the half-year sales push, daily retail sales could reach 83,000 units, according to CPCA.
Still, pressure at the macro level persists. China’s total retail sales of consumer goods stood at 4.11 trillion yuan ($608 billion) in May, down 0.6% from a year earlier.
That marked the first decline in retail sales this year. Auto retail sales of 330.9 billion yuan, down 16.1% year-on-year, were the main drag.
CPCA believes that the recovery in auto consumption lags the broader consumer market, with the sector still bottoming out.
Inventory pressure, meanwhile, has eased somewhat. The composite inventory coefficient for auto dealers stood at 1.63 in May, down 13.8% from the prior month.
But that was still up 18.1% year-on-year, indicating that overall inventory depth remains high.
CPCA noted that some new models launched in the second quarter face slow production ramp-ups and long delivery cycles, which may delay the realization of sales.
Looking back at May, China’s passenger-vehicle retail sales reached 1.51 million units, down 22.1% year-on-year but up 9.6% from the prior month.
Of that, NEV retail sales came in at 950,000 units, down 7.5% year-on-year, with penetration reaching 62.9%.
CPCA said the high level of NEV penetration mainly stems from the continued shrinkage of the traditional fuel-vehicle market.
Against the backdrop of high oil prices, demand for fuel vehicles is weak, requiring promotional pushes to contribute marginal gains.
China’s NEV retail totaled 341,000 units in June 1-14, down 8% from a year earlier but up 5% from the same period last month.
($1 = 6.7582 yuan)
