China's wholesale sales of passenger NEVs are estimated at 1.228 million units in September, up 48 percent year-on-year and up 17 percent from August.

China's new energy vehicle (NEV) sales grew strongly last month, as sales entered the peak season.

Wholesale sales of passenger NEVs in China are expected to be 1.228 million units in September, up 48 percent year-on-year and up 17 percent from August, the China Passenger Car Association (CPCA) said in a report today.

In August, manufacturers with wholesale sales of more than 10,000 passenger NEVs contributed 90.8 percent of all NEV wholesale sales, CPCA said.

The estimated sales of these carmakers in September were 1.11 million units, and based on last month's structure, China's September passenger NEV wholesale sales will be around 1.22 million units, the CPCA said.

This will be the second time that China's monthly NEV wholesale sales have exceeded 1 million units.

In China, NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and fuel cell vehicles. Their specific numbers are expected to be announced later this month.

China's NEV market entered a peak season in September, helped by the subsidy policy for the replacement of old vehicles.

As of September 25, more than 1.13 million applications had been filed regarding replacement subsidies for old vehicles, the report noted.

The sharp increase in replacement subsidy filings in recent months reflects the policy's boost to boost auto consumption, the CPCA said.

Among major carmakers, BYD (HKG: 1211, OTCMKTS: BYDDY) had wholesale sales of 417,603, Geely 91,134 and Tesla China 88,321 in September.

Tesla China sells 88,321 cars in Sept, highest since Mar