CPCA pegs August China NEV wholesales at 1.51 million as retail lags behind

China's passenger NEV wholesale volume is projected to reach about 1.51 million units in August, according to preliminary figures from the China Passenger Car Association — a 16% jump from a year earlier and a 4% gain over July. The projection is extrapolated from a panel of automakers that each shipped more than 10,000 NEVs in July, a group covering 93% of the national market, whose combined August tally came to roughly 1.41 million units.

The wholesale strength masks a softer retail picture. The CPCA described August as a month of record NEV penetration and rising shipments alongside sluggish end-user demand, with a seasonal lull, cautious consumers, a high year-ago base and dealer inventory all weighing on the market. The usual late-August trade-in boost tied to the school season failed to materialize this year. Even so, expensive fuel, a richer EV product lineup and faster electrification among major carmakers continued to lift volumes.

Records were set across the board. BYD led with 433,384 units, followed by Geely at 173,675, Chery at 115,558 and Leapmotor at 103,129, with all four posting their best August on record; GWM, Xpeng, Nio, SAIC-GM-Wuling, SAIC Passenger Vehicle and Arcfox did the same. Joint ventures joined in too, as SAIC-GM, GAC Toyota, GAC Trumpchi and Changan Mazda each logged their strongest August. Company-level data showed BYD and Leapmotor hitting year-to-date or all-time highs, while deliveries at Huawei-backed HIMA fell year-on-year — a sign the recovery is uneven. The CPCA sees the market as bottoming out, but says September and October results will reveal how strong the peak season really is.