Image Source : China Visual

BEIJING, January 11 (TMTPOST) —— In December 2022, the wholesale penetration rate of new-energy passenger vehicle manufacturers reached 33%, according to data released by China Passenger Car Association (CPCA) on Tuesday.

In addition, the cumulative wholesale sales of new-energy passenger vehicles reached 6.498 million units in the whole year of 2022, up 96.3% year on year. The annual wholesale penetration rate was 27.6%, an increase of 12.6 percentage points compared with 2021.

The CPCA predicts that the wholesale sales of new-energy passenger vehicles in 2023 will be 8.5 million units, up 31% year on year, and the annual new-energy penetration rate will reach 36%.

With the growth of the base, the growth of new-energy vehicle sales slowed down. Data from the CPCA showed that in 2021, the wholesale volume of new energy passenger vehicles was 3.312 million units, up 181% year on year.  The annual growth in 2022 is 84.7 percentage points lower than that in 2021.

In April and May 2022, affected by the pandemic, production and consumption of new-energy passenger vehicles were both sluggish. In October and November, the market was again affected by the pandemic, and the automobile market was under great pressure throughout the year. New energy vehicle sales maintained year-on-year growth but showed a downward trend.

In October, the retail sales of new-energy passenger vehicles reached 556,000 units, up 75.2 percent year on year and down 9 percent month on month. Retail sales of new-energy passenger vehicles in November were 598,000 units, up 58.2% year-on-year and 7.8% month-on-month, still lower than in September. After the release of the“10 new measures” to optimize COVID-19 response in December, automobile consumption gradually returned to normal, and subsidies were added to increase stimulus. The retail sales of new energy passenger vehicles reached 640,000 units in the month, the highest volume of the year.