China Auto Market

The penetration rate of NEVs in retail sales was 54.5 percent from June 1 to 22, and 50.06 percent year-to-date.

The penetration rate of NEVs in retail sales was 57 percent from June 1 to 15, and 49.98 percent year-to-date.

The penetration rate of NEVs in retail sales was 58.8 percent during the June 1-8 period, and 49.78 percent year-to-date.

Nio said that it will continue to adhere to payment terms of 60 days or less, collaborating with partners to promote high-quality development of China's automotive industry.

China's major automakers and some new carmakers have pledged to shorten supplier payment terms amid concerns about supply chain security.

China's retail penetration of NEVs was 53.5 percent in the May 1-25 period, and 49.2 percent year-to-date.

China's NEV penetration at retail stood at 52.0 percent in May 1-18 and 48.8 percent year-to-date.

China's cumulative retail sales of passenger NEVs so far this year stood at 3.618 million units, up 35 percent year-on-year.

Retail sales of all passenger vehicles in China totaled 1.391 million units in the April 1-27 period, up 10 percent year-on-year but down 10 percent from the same period last month.

Dramatic changes in the external environment, especially additional tariffs that exceeded expectations, have taken a toll on consumer sentiment, the CPCA said.