China Passenger Car Association (CPCA) predicts that the country's wholesale volume of new-energy vehicles (NEVs) from January to June 2023 could reach 3.53 million, representing a 44 percent year-on-year increase, as revealed by the association on Tuesday.

In June alone, CPCA predicts that the monthly wholesale volume of NEVs may reach 740,000, a 10 percent month-on-month increase and a 30 percent year-on-year increase.

CPCA stated that this positive projection is based on last year's low base number and recent strong overseas demand, which will further extend the positive trend from May to June, reaching a new historic height of monthly records.

According to the China Association of Automobile Manufacturers' data, as of Monday, China's NEV output and sales have surpassed 20 million. Cui Dongshu, the secretary general of CPCA, described this achievement as a historic milestone in China's auto industry.

Cui added, "NEV has now become the new driving force behind China's economic growth, accelerating the country's industry chain transition from gas motors to electric motors and leading the global new energy transformation revolution."

In mid-June, China's authorities announced the launch of the annual NEV promotional campaign in rural areas to expand the use of NEVs and boost the nation's consumption.

CPCA also predicts that China's annual NEV sales could reach 8.5 million, with an estimated penetration rate of 36 percent, aligning with the current industry operation status.

（Picture: Veer）