China's passenger-vehicle NEV retail reached 753,000 units in the first 25 days of October, down 13% year on year, with NEV penetration at 65.7%, the China Passenger Car Association reported on October 28.
NEV wholesale by manufacturers over the same window came to 1.008 million units, up 3% year on year, while cumulative NEV wholesale for the year to date reached 12.458 million, up 9%, underscoring that factory shipments remain far more resilient than retail demand.
The association also noted that cumulative NEV retail for the year through October 25 stood at 8.511 million units, down 13% year on year, as a high-oil-price winter demand peak for gasoline cars weakened sharply versus prior years.
The figures illustrate the shifting shape of China's auto market: penetration stays structurally high even as a softer retail environment and a pre-holiday lull weigh on absolute volumes.
Source: China Passenger Car Association (CPCA) / financial-media roundups (paraphrased and translated from Chinese industry-media reporting; reprinted for informational purposes with attribution).
