• In September, China's passenger NEV retail penetration rate is expected to reach a record high of 58.1 percent.
• China's overall passenger vehicle retail sales for September are projected to be about 2.15 million units, a 2.0 percent year-on-year increase.

China's passenger new energy-vehicle (NEV) sales are expected to continue growing this month as the seasonal slowdown passes.

China's passenger NEV retail sales are projected to reach 1.25 million units in September, with a record penetration rate of 58.1 percent, according to a report released today by the China Passenger Car Association (CPCA).

This represents an 11.4 percent year-on-year increase and a 13.5 percent rise from August, calculations by CnEVPost indicate.

Preliminary estimates indicate China's overall passenger vehicle retail sales in September are projected to reach about 2.15 million units, a 2.0 percent year-on-year increase and a 6.5 percent rise from the previous month, the CPCA said.

September marks the traditional strong sales season, with automakers intensifying their efforts to boost sales volume at the end of the quarter, the CPCA said.

However, adjustments and tightening of local governments' scrappage subsidy policies have introduced some market uncertainty, the CPCA noted.

Passenger vehicle manufacturers that account for 80 percent of retail sales raised their monthly retail targets both year-on-year and month-on-month, the report indicated.

Discounts in the automotive sector remained stable in early September, with pricing systems stabilizing under policy regulation, the CPCA said.

During the first week of September, major manufacturers recorded an average daily retail volume of 43,500 units, down 10.3 percent year-on-year and down 3.8 percent month-on-month.

Week 2 saw an average daily retail volume of 59,500 units, down 2.2 percent year-on-year but up 11.9 percent month-on-month.

Week 3 is projected to reach an average daily retail volume of 68,100 units, marking a 13.8 percent year-on-year increase and a 14.3 percent rise month-on-month.

Week 4 is projected to see an average daily retail sales volume of 105,900 units, a 3.0 percent year-on-year increase and a 19.0 percent rise compared to the same period last month.