NEV sales soar in October

Photo/VCG

The car association expects Chinas NEV market to see new demand as major NEV makers cut sale prices last month.

In the first 10 months, over 4.43 million units of new energy passenger vehicles were sold via retail channels in the country, skyrocketing 107.5 percent from a year ago.

Overall, Chinas passenger car market posted stable growth in October, with 1.84 million passenger vehicles sold via retail channels last month, up 7.3 percent year on year, the data showed.

Last month, retail sales of Chinas new energy passenger cars came in at 556,000 units, up 75.2 percent year on year, according to the China Passenger Car Association.

Retail sales of Chinas new energy vehicles (NEVs) surged in October as improved supply and concerns of higher oil prices among car buyers jointly propelled the NEV market, data from an industry association showed Tuesday.