China Passenger Car Retail Falls 24% YoY in First 11 Days of October; NEV Wholesale Turns Positive
CPCA weekly data show that from October 1 to 11, 2026, national passenger vehicle retail sales were 459,000 units, down 24% year on year and up 7% month on month; manufacturer wholesale was 385,000 units, down 18% year on year and down 15% month on month. New energy vehicles were relatively resilient: retail sales were 281,000 units, down 13% year on year, while wholesale was 301,000 units, up 6% year on year, the only major indicator to turn positive year on year; retail penetration was 61.2% and wholesale penetration was 78.1%. By week, average daily retail sales in the second week were 58,000 units, up 32% month on month. CPCA noted that high oil prices are curbing first-time purchase demand for fuel vehicles, with replacement of existing vehicles providing support, while cumulative domestic retail sales were still down 22% year on year.
2521 day ago
