China's NEV Sales Drop 17% in Early December
...Source: https://cnev.co/II70oHP Transcript: According to China EV Post, New Energy Vehicle sales in China saw a rare decline in early December, marking a notable shift after years of steady growth. From December 1st to 7th, retail sales of New Energy Vehicles totaled 185,000 units—that’s a 17% drop compared to the same week last year and down 10% from November. Industry analysts point to the phase-out of subsidies, especially trade-in incentives, as a key factor behind the slowdown.
In comparison, the same week last year saw 255,000 units sold, with a 72% year-over-year increase at that time. While this week’s numbers are down, the broader picture still shows growth—year-to-date, New Energy Vehicle retail sales have climbed 19%, reaching 11.66 million units. Wholesale sales are up even more at 27% for the year.
Overall passenger vehicle retail sales in China also slipped, falling 32% year-over-year during the same early December period. So while electrification continues to grow, the recent policy pullback has clearly taken a toll on momentum as 2025 wraps up.