On August 18, Cui Dongshu, the Secretary-General of the Passenger Car Association (CPCA), unveiled data indicating that nationwide wholesale sales of passenger vehicles by manufacturers surged to an all-time monthly high of 2.22 million units in July. This represented a robust year-on-year growth of 13% and a slight monthly decline of 11%. From January to July, cumulative wholesale sales amounted to 15.5 million units, marking a year-on-year increase of 12.4%. Notably, due to retail adjustments, the annual growth rate of wholesale sales outpaced that of retail sales by 7 percentage points in July.

Breaking down the figures, domestic automakers wholesaled 1.58 million units in July, experiencing a year-on-year surge of 20% and a monthly dip of 5%. Mainstream joint venture automakers wholesaled 440,000 units, reflecting a year-on-year increase of 7% and a monthly decrease of 21%. Luxury vehicle wholesales, on the other hand, declined by 16% year-on-year and 25% month-on-month, totaling 200,000 units.