Innolux Aug. sales NT$18.7B

Innolux Aug. sales NT$18.7B

China's new energy vehicle (NEV) market demonstrated resilience in August 2025, with significant growth in battery electric vehicle (BEV) sales and a notable rebound in overall NEV retail sales. According to data released by the China Passenger Car Association (CPCA), passenger NEV retail sales reached 1.101 million units in August, marking a 7.5 percent year-on-year increase and an 11.6 percent rise from July [1].

The growth was primarily driven by BEVs, which saw retail sales of 686,000 units in August, a 17.2 percent year-on-year increase and a 13.0 percent rise from July. BEVs accounted for 62.3 percent of total NEV retail sales in August, up 8 percentage points from July [1]. This growth was accompanied by a 6.8 percent year-on-year decline in hybrid vehicle sales, which totaled 414,000 units in August [1].

The rebound in NEV sales is a positive sign for the industry, as it marks the first time since July that the market has surpassed the 1 million unit mark. This figure surpasses the CPCA's preliminary data of 1.08 million units and its estimate of 1.079 million units published earlier [1].

The wholesale market also showed strong growth, with NEV wholesale sales totaling 1.282 million units in August, a 22.3 percent year-on-year increase and a 7.8 percent rise from July [1]. The wholesale penetration rate for NEVs in August was 52.2 percent, up 3.3 percentage points year-on-year but declining 1 percentage point month-on-month [1].

Domestic Chinese brands achieved a 76 percent NEV retail penetration rate in August, while luxury brands reached 31.9 percent and mainstream joint-venture brands recorded 6.6 percent [1]. This indicates a strong presence of domestic brands in the NEV market.

Tesla's sales in China also showed a decline, with the company selling 57,152 cars in August, down 10 percent year-on-year. This marks Tesla's sixth consecutive year-on-year decline in China retail sales during the first eight months of 2025 [2].

The NEV market's resilience in August 2025 is a positive sign for the industry, indicating a strong demand for electric vehicles. However, the continued decline in Tesla's sales in China suggests that the market is still competitive and that there is room for growth among domestic and other international brands.

References:
[1] https://cnevpost.com/2025/09/08/china-nev-retail-aug-2025/
[2] https://cnevpost.com/2025/09/08/china-nev-retail-aug-2025/