October 1-11 Retail Performance
China's passenger car retail sales reached 459,000 units in October 1-11, down 24% from the same period last October and up 7% from the previous month, according to the China Passenger Car Association. Cumulative retail sales so far this year totaled 13.793 million units, down 22% year-on-year.
In the first week of October, average daily retail sales were 33,000 units, down 25% year-on-year and 10% month-on-month. In the second week, average daily retail sales rose to 58,000 units, down 22% year-on-year but up 32% from the previous month.
New Energy Vehicle Retail
New energy passenger car retail sales reached 281,000 units in October 1-11, down 13% from the same period last October and down 7% from the previous month. Cumulative new energy retail sales so far this year totaled 8.039 million units.
The new energy retail penetration rate was 61.2% in October 1-11.
Wholesale Deliveries
Wholesale deliveries by passenger car manufacturers totaled 385,000 units in October 1-11, down 18% from the same period last October and down 15% from the previous month. Cumulative wholesale deliveries so far this year reached 20.122 million units, down 6% year-on-year.
In the first week of October, average daily wholesale deliveries were 21,000 units, down 32% year-on-year and down 44% month-on-month. In the second week, average daily wholesale deliveries rose to 60,000 units, down 7% year-on-year but up 23% from the previous month.
New energy wholesale deliveries reached 301,000 units in October 1-11, up 6% from the same period last October and down 11% from the previous month. Cumulative new energy wholesale deliveries so far this year totaled 11.75 million units, up 9% year-on-year. The new energy wholesale penetration rate was 78.1% in the period.