China's New Energy Vehicle (NEV) retail figures for August 1-17 climbed by 9% compared to the same period last year, reaching a total of 502,000 units.

China's New Energy Vehicle (NEV) retail figures for August 1-17 climbed by 9% compared to the same period last year, reaching a total of 502,000 units.

China's automotive market has shown a mixed performance in August, with some sectors experiencing growth while others have seen a decline.

According to the latest data, China's cumulative retail sales of all passenger vehicles for the year-to-date reached 13.61 million units, marking a 10 percent increase year-on-year. However, the average daily retail sales from August 1 to 10 were down 4 percent year-on-year but showed a 6 percent growth month-on-month, at 45,207 units. From August 11 to 17, the daily retail sales increased by 8 percent year-on-year and 10 percent month-on-month, reaching 59,068 units.

The growth in the automotive market can be attributed to the significant rise in the sales of New Energy Vehicles (NEVs). China's cumulative retail sales of passenger NEVs so far this year reached 6.958 million units, a 28 percent increase year-on-year. The NEV retail sales penetration rate for the period from August 1 to 17 was 58.0 percent, and the year-to-date NEV retail sales penetration rate stands at 51.12 percent.

Wholesale sales data also points towards a positive trend. The average daily wholesale sales of passenger cars from August 1 to 17 were 62,690 units, a 22 percent increase year-on-year and a 19 percent growth over the same period last month. The wholesale sales of passenger NEVs for the same period totaled 474,000 units, a 18 percent year-on-year increase and a 10 percent month-on-month growth.

However, it's worth noting that from August 11 to 17, China's daily wholesale sales of passenger cars were not specified. Also, no relevant data about the cumulative wholesale sales of general passenger vehicles in China for the year 2021 was found in the provided search results.

In terms of individual companies, China EV insurance registrations for the week ending August 17 saw Nio Inc with 7,190 registrations, Tesla with 14,000 registrations, and our X (Twitter) profile with 7,170 registrations.

Overall, the Chinese automotive market is witnessing a shift towards electric and hybrid vehicles, with NEV sales showing a robust growth. Despite a slight dip in retail sales for passenger cars in the first half of August, the market is expected to recover as the month progresses.

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