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CPCA Forecasts CN NEV Wholesale Vol. to Hike 35% YoY Last Dec
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According to the consolidated estimate based on preliminary monthly data, the national wholesale volume of new energy passenger vehicles (PVs) in Mainland China in December 2024 totaled 1.5 million units, representing a YoY leap of 35% and an MoM rise of 5%, the China Passenger Car Association (CPCA) said. BYD COMPANY (01211.HK) (002594.SZ) topped the chart with 509,400 units of wholesale, preceding GEELY AUTO (00175.HK) with 111,200 units; and Tesla, which ranked fifth with 93,800 wholesale in China, the estimate revealed. In December 2024, the automobile market of the mainland sustained a higher degree of prosperity since the third quarter; and the effect of scrapping renewal and replacement renewal policy continued to release, which boosted the car market in that month further, the Association pointed out. As the Spring Festival of 2025 will be on January 29, which is an exceptionally small season in terms of annual market sales volume, the industry is facing the pressure of negative growth in January sales volume due to the short pre-holiday retailing period. Therefore, after completing the adjustment targets for 2024, some automakers will consider a certain amount of volume transfer to ensure that the opening of January 2025 will be a jumpstart. AAStocks Financial News |
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