China NEV Retail Sales Fall 9% in Early September

China's passenger NEV retail sales fell 9% year-on-year to 596,000 units in September 1-20, per CPCA data. NEVs took 67.9% of retail sales while overall passenger car sales dropped 22% as gasoline vehicle demand slumped. Wholesale NEV sales rose 8% to 740,000, showing automakers are competing for a shrinking pool of buyers.