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On February 11, the China Passenger Car Association (CPCA) unveiled data indicating that the retail penetration rate of new energy vehicles (NEVs) in China surged to 41.5% in January, marking a 9 percentage point increase from the previous year. Notably, indigenous brands led the charge with a 60.6% penetration rate for NEVs, while luxury vehicles accounted for 20%, and mainstream joint venture brands only managed 3%. Regarding retail market share, mainstream indigenous NEV brands captured 72% of the market in January, a slight dip of 0.2 percentage points. Joint venture brands held 2.1%, down 2.9 percentage points. New force brands, with Xiaomi Auto making a significant contribution, saw their share rise by 5.7 percentage points year-on-year to 20.8%. Tesla, on the other hand, recorded a 1.4 percentage point decline in its share, settling at 4.5%.
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C114 Communication Network -
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