On August 26, information released by the China Passenger Car Association (CPCA) showed that between August 1 and 23, retail sales of passenger vehicles across the country amounted to 956,000 units. This reflects a 22% decrease compared to the same period last year and a 2% dip from the previous month. Since the start of this year, the cumulative retail sales of passenger vehicles have totaled 11.129 million units, representing a 20% year-on-year decline.

During this same timeframe, retail sales of new energy passenger vehicles reached 614,000 units, experiencing a 12% year-on-year decrease and a 2% month-on-month reduction. The cumulative retail sales of new energy passenger vehicles since the beginning of the year have stood at 6.283 million units, also down by 12% year-on-year. Furthermore, from August 1 to 23, the penetration rate of new energy passenger vehicles in the retail market was 64.3%, whereas, in the manufacturer wholesale market, it reached 70.5%.