China's NEV retail penetration rebounded to 48.0 percent in the March 1-17 period.

In the first week of March -- March 1-10 -- average daily retail sales of passenger cars in China were 35,490, up 4 percent year-on-year but down 4 percent from the same period in February.

In the second week of March -- March 11-17, average daily retail sales of passenger cars in China were 49,045, up 24 percent year-on-year and up 92 percent from the same period in February.

In the March 1-17 period, China's wholesale sales of all passenger cars were 828,000 units, up 25 percent from a year earlier and up 121 percent from the same period last month, the CPCA said.

Cumulative wholesale sales of all passenger cars in China so far this year stood at 4.228 million units, up 13 percent from a year earlier.

From March 1-10, China's average daily wholesale sales of passenger cars were 35,705 units, down 2 percent from a year earlier but up 50 percent from a month earlier.

From March 11-17, average daily wholesale sales of passenger cars in China were 67,335 units, up 58 percent year-on-year and up 245 percent from the same period last month.

BYD chairman expects China's NEV penetration to exceed 50% within next 3 months