On February 20th, the China Passenger Car Association (CPCA) unveiled initial estimates indicating that retail sales of passenger cars in a narrow sense for the month of February will amount to approximately 1.25 million units. This figure represents a year-on-year growth of 13.6% and a month-on-month decline of 30.3%. Notably, sales of new energy passenger cars are projected to hit 600,000 units, with a penetration rate of roughly 48%.
