China's NEV sales performed even worse at retail last week, leading to a significant drop in sales in the first half of the month compared to the same period in December.

(Image credit: CnEVPost)

China's new energy vehicle (NEV) sales performed even worse at retail last week, leading to a significant drop in sales in the first half of the month compared to December.

In the January 1-14 period, China's passenger NEVs sold 226,000 units at retail, up 33 percent from a year earlier but down 21 percent from a month earlier, according to data released today by the China Passenger Car Association (CPCA).

Wholesale sales of China's passenger NEVs during the period were 216,000 units, up 26 percent from the same period last year, but 32 percent lower than the same period in December, according to the CPCA.

Data released by the CPCA last week showed that retail sales of passenger NEVs in January 1-7 were 12 percent lower than the same period in December, while wholesale sales were 35 percent lower.

This means that China's passenger NEVs performed worse at retail last week than in the first week of January, while wholesale sales improved slightly.

In the January 1-14 period, China's retail sales of all passenger vehicles were 788,000 units, up 18 percent compared with the same period last year and up 6 percent from the same period last month, the CPCA said.

This means that on January 1-14, China's NEV penetration at retail was 28.68 percent.

In the first week of January -- January 1-7 -- the average daily retail sales of passenger cars in China were 54,012, up 21 percent year-on-year and up 14 percent from the same period in December.

In the second week of January -- January 8-14 -- average daily retail sales of passenger cars in China were 58,513, up 15 percent year-on-year and unchanged from the same period in December.

In the January 1-14 period, China's wholesale sales of all passenger cars were 715,000 units, up 16 percent from a year earlier but down 4 percent from a month earlier, the CPCA said.

In the January 1-7 period, China's average daily wholesale passenger car sales were 47,018 units, up 14 percent from a year earlier and up 3 percent from a month earlier.

During January 8-14, China's average daily wholesale passenger car sales were 55,184 units, up 8 percent from a year earlier and down 9 percent from a month earlier.

China EV insurance registrations for week ending Jan 14: Nio 1,700, Xpeng 1,400, Li Auto 6,800, Tesla 7,400