In September, China's passenger NEV retail sales are expected to be around 1.1 million units, up 47.3 percent year-on-year and up 7.3 percent compared to August, CPCA's estimates show.

China's retail sales of new energy vehicles (NEVs) are expected to hit another record high this month, as the industry moves out of slow season.

In September, China's passenger NEV retail sales are expected to be around 1.1 million units, up 47.3 percent year-on-year, and up 7.3 percent compared with August, according to estimated data released today by the China Passenger Car Association (CPCA).

This means that monthly retail sales of NEVs in China are expected to exceed 1 million units for the second consecutive month, after reaching 1,027,000 units in August.

China's NEV penetration at retail in September is expected to be 52.4 percent, according to the CPCA. This is lower than the 53.9 percent in August.

The CPCA is expected to release preliminary figures for September NEV sales early next month and final figures in the middle of next month.

Latest survey shows that major automakers, which contribute about 80 percent of passenger car sales, are targeting a 10 percent increase in retail sales in September from August, the CPCA said.

According to preliminary projections, September passenger car retail sales are expected to be around 2.1 million units, up 4.0 percent year-on-year and up 10.1 percent from the previous month, according to the CPCA.

Major automakers averaged daily passenger car retail sales of 48,400 units in the first week of September, up 10.5 percent year-on-year and up 5.4 percent from the same week last month.

Their average daily retail sales in the second week were 62,900 units, up 26.2 percent year-on-year and up 17.8 percent from the same period last month.

Average daily retail sales in the third week were 71,400 units, up 19.5 percent year-on-year and up 29.8 percent over the same period last month.

Average daily retail sales for the fourth week are estimated at 96,500 units, down 14.4 percent year-on-year while up 11.8 percent from the same period last month.

China EV insurance registrations for week ending Sept 15: Nio 4,200, Tesla 15,600, Xiaomi 3,100, BYD 86,000