According to preliminary data released by the China Passenger Car Association, retail sales of passenger vehicles in January stood at 1.853 million units, marking a 9% year-on-year decline. Wholesale sales, on the other hand, totaled 2.048 million units, reflecting a 3% decrease compared to the same period last year. Notably, wholesale sales of new energy passenger vehicles surged by 29% year-on-year, reaching 900,000 units, although this figure represents a 40% decrease from the previous month. Since the start of this year, cumulative wholesale sales of new energy passenger vehicles have hit 900,000 units, signifying a 29% year-on-year growth.
