Shanghai (ZXZC)- China's passenger vehicle ("PV") retail sales are anticipated to reach 1.95 million units in September 2022, jumping 23.3% from the previous year, while also rising 4.2% from the previous month, according to the China Passenger Car Association ("CPCA"). 

For clarity, the passenger vehicles hereby refer to the cars, SUVs, and MPVs locally produced in the world's largest auto market.

The daily PV retail sales for the first week of September reached around 38,500 units, remaining flat over the previous year, while the second week posted a 28% year-on-year jump with about 55,200 PVs delivered, according to the data offered by main automakers in China and compiled by the CPCA.

According to the association's prediction, the average daily PV retail volumes might amount to 71,000 units and 131,000 units in the third and fourth weeks of September, jumping 33% and 35% from the corresponding period of last year, respectively. 

In addition, the retail sales of new energy passenger vehicles in September are expected to reach roughly 580,000 units, zooming up 73.9% year on year and climbing 9.5% month on month, and representing a penetration rate of 29.7% in the PV market, the CPCA added.