China's NEV wholesale volume expected to reach 1.5 mln units in Q1, penetration to reach 39% in 2023 - research

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China's wholesale sales of NEVs are expected to reach 1.5 million units in the first quarter of 2023 and are on track to reach 9 million units for the year, leading to a penetration rate of 39%, CICC analysts said in a note, adding that the NEV market will start rebounding in the next two months after seasonal factors subside.

January sales was a low point as China's purchase subsidies for NEVs expired at the end of last year, allowing some consumers to bring . . .

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