CPCA: New energy passenger vehicle exports rose 154.7% year-on-year in August
Data from the China Passenger Car Association (CPCA) shows that exports of new energy passenger vehicles (NEVs) rose 154.7% year-on-year to 518,000 units in August, while declining 5% month-on-month. NEVs accounted for 58.4% of total passenger vehicle exports, an increase of 18 percentage points year-on-year, whereas the share of battery electric vehicles (BEVs) in NEV exports fell to 63.4%. In August, BYD (01211.HK) exported 184,400 units, Geely Auto (00175.HK) 69,900 units, Chery Automobile (09973.HK) 68,400 units, Tesla China 36,100 units, and Leapmotor (09863.HK) 18,300 units.
Over 70% of automakers reported month-on-month sales growth in August, bottoming out during the off-season to build momentum for the "Golden September, Silver October" peak period.
① In August, retail sales of passenger vehicles in the national market reached 1.541 million units, a year-on-year decrease of 23.6% and a month-on-month increase of 5.5%; ② Passenger vehicle exports (including complete vehicles and CKD) totaled 888,000 units in August, representing a year-on-year increase of 77.8%; ③ BYD, SAIC Motor, and Geely Auto ranked as the top three sellers in August, with all three companies achieving significant growth in their overseas export businesses.
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