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On September 3, the China Passenger Car Association (CPCA) released the latest data highlighting the robust performance of China's new energy passenger vehicle market in August. According to preliminary statistics, from August 1st to 31st, retail sales of new energy passenger vehicles amounted to 1.079 million units, marking a 5% year-on-year increase and a 9% monthly increase. The national retail penetration rate for new energy vehicles reached 55.3%, and cumulative retail sales for the year have surpassed 7.535 million units, signifying a 25% year-on-year growth. On the wholesale front, manufacturers sold 1.292 million new energy passenger vehicles, a 23% year-on-year jump and a 9% monthly rise, with a wholesale penetration rate of 53.6%. Cumulatively, wholesale sales for the year have reached 8.926 million units, reflecting a 33% year-on-year increase.
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