Overview
- Passenger-car retail reached 2.242 million units in October, down 0.8% year over year, with year-to-date retail at 19.25 million units, up 7.9%.
- NEV retail totaled 1.282 million units in October, up 7.3% year over year, lifting domestic retail penetration to 57.2%, 4.3 percentage points higher than a year earlier.
- Output remained strong as total production hit 2.951 million units in October, up 11.4% year over year, with NEV production at 1.657 million and NEV wholesale at 1.621 million, both posting double-digit gains.
- Exports accelerated to 568,000 passenger cars in October, up 27.7% year over year, including 251,000 NEVs, up 104.2% year over year and 18.6% month over month, with NEVs accounting for 44.2% of the month’s exports.
- BYD led October NEV exports with 80,108 units, followed by Chery (40,816), Tesla China (35,491), IM Motors (14,138) and Geely (13,626), as domestic NEV retail leaders included BYD, Geely, SGMW and Changan.