The China Passenger Car Association (CPCA) has stated that passenger vehicle retail sales in China are expected to amount to 2.2 million units in October this year, down 2.0 percent month on month, while down 2.6 percent year on year.
In particular, new energy vehicles retail sales in China are likely to reach 1.32 million units, with the market penetration rate of NEVs standing at around 60 percent in October, which will create the historical high level.