The China Passenger Car Association (CPCA) has stated that passenger vehicle retail sales in China are expected to amount to 1.8 million units in January this year, down 20.4 percent month on month, while up 0.3 percent year on year.
In particular, new energy vehicles retail sales in China are likely to reach 800,000 units, with the market penetration rate of NEVs standing at around 44.4 percent in January.