BriefENERGY
China NEV Penetration Rate Exceeds 50% for First Time: ICE Vehicle Sales Down 30%
China Association of Automobile Manufacturers data shows NEV penetration rate exceeded 50% for the first time in May, with ICE vehicle sales down 30% YoY.
The China Association of Automobile Manufacturers released May production and sales data today.
Key data:
- NEV penetration rate exceeded 50% for the first time
- ICE vehicle sales decreased 30% YoY
- BYD, Geely, and Li Auto ranked top 3 in sales
- Export volume increased 25% YoY, with Europe becoming the largest export market
This marks China's automotive market officially entering an era dominated by new energy vehicles.
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