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On August 20th, the China Passenger Car Association (CPCA) released data revealing that from August 1st to 17th, a total of 866,000 passenger vehicles were sold in the retail market nationwide. This represents a year-on-year increase of 2% and a month-on-month rise of 8%. Since the beginning of the year, cumulative retail sales have amounted to 13.611 million units, marking a 10% increase compared to the same period last year.
During the same period, sales of new energy passenger vehicles in the retail market surged by 9% year-on-year and 12% month-on-month, with 502,000 units sold. This translates to a penetration rate of 58.0%. Cumulatively, since the start of the year, new energy passenger vehicle retail sales have reached 6.958 million units, up 28% year-on-year.
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