Wholesale Volume of New Energy Passenger Cars in China Increases by 141.4% YoY in June

On July 8, the China Passenger Car Association released its analysis of the national passenger vehicle market in June this year. The data shows that retail sales of passenger vehicles reached 1.943 million units in June, up 22.6% year-on-year, driving the total retail sales from January to June to 9.261 million units.

In June, the wholesale volume of Tesla’s Model Y and Wuling Hongguang Mini EV reached 52,557 units and 46,249 units, taking the first two spots in overall passenger car sales.

In June, the wholesale volume of new energy passenger cars reached 571,000 units, up 141.4% year-on-year and 35.3% month-on-month. Under the policy of halving the vehicle purchase tax, new energy vehicles have not been affected, and the month-on-month improvement has exceeded expectations.

In June, the retail sales of new energy passenger cars reached 532,000 units, up 130.8% year-on-year. From January to June, the domestic retail sales of new energy passenger cars totaled 2.248 million units, up 122.5% year-on-year.

The domestic retail penetration rate of new energy vehicles in June was 27.4%, which was 12.8 percentage points higher than the 14.6% in June 2021. In June, the penetration rate of new energy vehicles from independent brands, luxury brands, and joint venture brands, were 50.1%, 28.0%, and 4.5% respectively.

In June, there were 16 enterprises with wholesale sales exceeding 10,000 units, including BYD, Tesla China, SAIC-GM-Wuling, Geely, XPeng, Li Auto and NIO.

SEE ALSO: Chinese Automakers Unveil June Delivery Volume

A total of 31,000 new energy passenger cars were exported in the month of June.. With policies to support the resumption of production, the overseas recognition of new energy products made in China continued to improve, showing promise in the growth of the market.