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On August 13th, the China Passenger Car Association released statistics indicating that from August 1st to 10th, China's passenger car retail sales reached 452,000 units. This represents a 4% decrease from the same period last year but a 6% increase compared to the previous month. Year-to-date, cumulative retail sales have amounted to 13,198,000 units, marking a 10% increase from the same period last year.
Concurrently, retail sales of new energy passenger vehicles during the same period reached 262,000 units, up 6% year-on-year and 6% month-on-month. This translates to a market penetration rate of 57.9%. Since the beginning of the year, cumulative retail sales of new energy passenger vehicles have surpassed 6,717,000 units, reflecting a robust 28% year-on-year growth.
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