New Energy Vehicles’ Share of China’s Vehicle Sales Continues to Rise

New energy vehicle sales reached 1.94 million in October, accounting for 64.3% of total new vehicle sales.

The latest figures show that China produced 2.017 million new energy vehicles and sold 1.94 million in October, up 13.8% and 13.1% year on year, respectively; sales of new energy vehicles accounted for 64.3% of total new vehicle sales. Since the beginning of this year, new energy vehicles have continued to consolidate their dominant position in China’s vehicle market, with their cumulative share of sales continuing to rise, reaching 54.8% for January through October. Taking new energy passenger vehicles as an example, their share of the domestic market in October exceeded 70%. Experts said the continued rise in new energy vehicles’ share of sales in China is not a short-term phenomenon, but the combined result of technological iteration within the industry, improved product competitiveness, and greater market acceptance.

On November 11, the China Association of Automobile Manufacturers released October vehicle production and sales data, with both production and sales exceeding 3 million vehicles.

CCTV.com reports (Xinwen Lianbo): The latest figures released today, November 11, by the China Association of Automobile Manufacturers show that China’s vehicle production and sales both exceeded 3 million units in October, increasing to a certain extent from the previous month. New energy vehicles’ share of market sales continued to rise.

New energy vehicle exports reached 606,000 in October, up 140% year on year.

The latest figures from the China Association of Automobile Manufacturers also show that China’s vehicle exports have exceeded 1 million units for five consecutive months, while new energy vehicles’ share of exports has exceeded 50% for five consecutive months. In October, new energy vehicle exports totaled 606,000 units, an increase of 140% year on year.