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Of those, new energy vehicle (NEV) sales are expected to account for around 1.4 million units in December, representing a penetration rate of 51.9%.

Preliminary data from the CPCA estimates that the wholesale sales of new energy passenger vehicles (NEPVs) in China would reach 1.46 million units in November 2024, reflecting a 51% year-on-year surge and a 6% rise from October.

Of all PVs registered in October in China, 1,179,912 units were new energy vehicles (NEVs), achieving a penetration rate of 51.38% and hitting another record high for monthly registrations.