China's new energy passenger car sales surge in October

BEIJING -- China's new energy passenger vehicle market continued to see robust growth in October, with retail sales reaching nearly 1.2 million units, industry association data showed on Friday.

The figure marked a 56.7 percent year-on-year increase and a 6.4 percent jump from the previous month, according to the China Passenger Car Association (CPCA).

In October, production of new energy passenger vehicles reached about 1.38 million units, representing a 49.9 percent year-on-year increase and a 12.6 percent rise from the previous month.

The penetration rate of new energy vehicles, a gauge of popularity, in the domestic market climbed to 50.1 percent last month, according to the data.

During the first 10 months of the year, total retail sales of new energy passenger cars amounted to 8.33 million units, representing a 39.8 percent increase from the previous year, the CPCA data showed.

On the export front, China shipped 120,000 new energy passenger vehicles last month, up 10.4 percent year-on-year and 13.7 percent from September.

From January to October this year, total exports of new energy passenger vehicles reached about 1.09 million units, a 27.7 percent increase compared to the same period in 2023, the association said.