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On May 21st, the China Passenger Car Association released data indicating that from May 1st to 18th, retail sales of passenger cars in the national market amounted to 932,000 units. This represents a 12% increase compared to the same period last year and an 18% jump from the previous month. Since the start of the year, cumulative retail sales have reached 7.804 million units, marking an 8% year-on-year growth. Concurrently, the new energy passenger car market saw retail sales of 484,000 units during this period, experiencing a 32% year-on-year surge and a 15% month-on-month increase, with a market penetration rate of 52%. Since the beginning of the year, cumulative retail sales of new energy passenger cars have totaled 3.808 million units, signifying a 35% year-on-year growth.
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