Newshot CPCA: November 1-8, National Passenger Vehicle Market New Energy Retail Penetration Rate at 74.9%
IT Home, November 13 news: Data from the China Passenger Car Association (CPCA) shows that from November 1-8, national passenger vehicle market retail sales were 293,000 units, down 21% year-on-year compared with the same period in November last year, up 2% compared with the same period last month; cumulative retail sales since the start of this year reached 15.27 million units, down 22% year-on-year; from November 1-8, national passenger vehicle manufacturers' wholesale sales were 333,000 units, down 20% year-on-year compared with the same period in November last year, up 63% compared with the same period last month; cumulative wholesale sales since the start of this year reached 22.704 million units, down 6% year-on-year.
IT Home learned from the report that from November 1-8, national passenger vehicle market new energy retail sales were 219,000 units, down 7% year-on-year compared with the same period in November last year, up 27% compared with the same period last month; cumulative retail sales since the start of this year reached 9.088 million units, down 13% year-on-year; from November 1-8, national passenger vehicle manufacturers' new energy wholesale sales were 262,000 units, down 3% year-on-year compared with the same period in November last year, up 63% compared with the same period last month; cumulative wholesale sales since the start of this year reached 13.486 million units, up 9% year-on-year.
From November 1-8, the national passenger vehicle market new energy retail penetration rate was 74.9%; from November 1-8, the national passenger vehicle manufacturers' new energy wholesale penetration rate was 78.7%. This means that for every 100 new cars sold nationwide, nearly 75 are new energy models.
The CPCA pointed out that traditional fuel vehicles are suppressed by high oil prices, and first-time purchase demand in autumn and winter has severely shrunk, leading to a sharp decline in domestic wholesale sales, with inventory improving only slightly due to reduced volume. New energy vehicles, meanwhile, face the awkward situation of "lacking hit models," but to maintain the operation of the massive industrial chain and production and sales targets, manufacturers cannot schedule production according to orders and have fully shifted to "target sales" by forcefully pushing inventory to channels, causing new energy retail sales to rise slightly while channel inventory climbs.
The organization also stated that the current auto market shows the characteristics of "strong manufacturers, weak retailers, and production-determined sales." To sprint toward full-year targets, manufacturers have no choice but to shift inventory pressure to channels. Against the backdrop of weak recovery in real demand, the year-end sales push will be highly dependent on manufacturers' forceful inventory pushing and terminal promotions, and the capital chain and inventory risks of dealers urgently need vigilance.
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