China’s locally-made PV deliveries likely to drop 17.4% YoY in September: CPCA

Shanghai (Gasgoo)- China's retail sales of locally-produced passenger vehicles (merely including cars, SUV, and MPVs) are anticipated to reach 1.58 million units in September 2021, dropping 17.4% year on year, according to the China Passenger Car Association (CPCA).

The daily PV deliveries reached 29,000 and 36,000 units on average for the first and second weeks of September, dropping 3% and 12% year on year respectively, according to the data offered by main automakers in China and compiled by the CPCA. The decrease was mainly attributed to the chip supply constraint and the sporadic resurgence of the COVID-19 cases, said the association.

For the third and fourth weeks of September, the country's daily PV retail sales are likely dipped 16% and 18% from a year ago to roughly 40,000 units and 50,000 units. In the fifth week, the week for month-end sprint, daily PV deliveries are expected to be 95,000 units, decreasing 23% from a high base for the year-ago period.

Affected by the chip shortage, the sporadic coronavirus resurgence, extreme weather conditions, and high prior-year base, China's PV retail sales amounted to 1.451 million units in August, falling 14.8% from the previous year, while also shrinking 3.4% from the previous month, said the CPCA. However, the new energy vehicle market still logged a robust growth of 168% in August deliveries, which reached around 25,000 units. Last month, the penetration rate of NEVs stood at 17%, the association said, 2.4 percentage points higher than the previous month.