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2026-11-10 12:02:25 Citi published a report stating that, according to data from the China Passenger Car Association (CPCA), wholesale sales of new energy passenger vehicles in China reached 1.77 million units in Oct this year, up 9.8% YoY and 6.2% MoM, slightly below CPCA and the bank's expectations. Among them, retail sales of new energy passenger vehicles amounted to 1.11 million units, down 13.7% YoY and up 2.3% MoM, also slightly below market expectations and the industry order trend for NEVs in Oct, which rose about 4% MoM. The bank expects Oct insurance retail data to be released in mid-Nov, which should provide clearer visibility on retail trends. Passenger vehicle exports remained strong in Oct, reaching 928,000 units, up 68.5% YoY and 1.0% MoM. Among them, exports of new energy passenger vehicles reached 582,000 units, up 144.7% YoY and 3.9% MoM. The proportion of NEV exports increased by 20 ppts YoY and 2.0 ppts MoM to 62.8%. In the first 10 months of this year, passenger vehicle exports rose 74% YoY to 7.91 million units, while NEV exports increased about 140% YoY to 4.47 million units. The CPCA estimated that passenger vehicle industry inventory replenishment in Oct was about 62,000 units, while industry destocking in the first 10 months reached 600,000 units. (ha/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |