The new energy industry is concentrative and promising, both domestically and internationally
In the first half of 2023, the new energy vehicle market presented a consistent upward trend. However, starting from July, the passenger vehicle market has been in a low season. With the launch of a large number of competitive new products, coupled with promotional discounts, consumers' purchasing enthusiasm was further released since August.
Currently, China's automobile export industry enjoys a favorable environment. Notably, the export of China's EV has experienced a substantial uptick, demonstrating the robustness of the new energy markets both domestically and internationally.
In 2023, China's new energy passenger vehicles are poised to further solidify and strengthen their competitive edge. China Passenger car Association (CPCA) estimated that the wholesale sales of new energy passenger vehicles in September would reach 830,000 units, increasing by 23% year on year and 4% month on month. Preliminary calculations indicate that the cumulative wholesale figures from January to September 2023 amounted to 5.92 million units, marking a substantial 36% year-on-year growth.
According to CPCA's forecast, the sales volume of China's new energy passenger vehicles for 2023 will be 8.5 million units, while from the narrow sense, the figure is projected to reach 23.5 million. The annual penetration rate of new energy vehicles is expected to reach 36%. The current status aligns closely with these predictions.