January NEV Retail Penetration Hits 38.6%, with Domestic Brands Claiming 60% Share

According to data from the China Passenger Car Association (CPCA), in January, new energy vehicles (NEVs) accounted for 38.6% of domestic passenger vehicle retail sales, down 3 percentage points year-over-year. Among them, NEV penetration among Chinese自主品牌 reached 61.7%, while luxury brands stood at 16.1%, and mainstream joint-venture brands were only at 4.3%. In terms of retail market share, Chinese自主品牌 NEVs held 60.1% of the market, a decline of 12 percentage points year-over-year. NEV startups captured 31.2% of the market, up 10 percentage points year-over-year, primarily driven by brands such as XPeng, Leapmotor, and Xiaomi. Mainstream joint-venture brands accounted for 3.9%, a slight increase of 2 percentage points, while Tesla’s share stood at 3.1%, down 1.5 percentage points.