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CSC Securities has issued a research report highlighting substantial growth in domestic new energy vehicle sales during June. According to data from the China Association of Automobile Manufacturers, sales surged to 1.329 million units, marking a 26.7% increase year-on-year and a 1.7% rise month-on-month. The China Passenger Car Association further reports that wholesale sales of new energy passenger vehicles totaled 1.241 million units, up 26.4% year-on-year and 1.6% month-on-month, with a market penetration rate of 49.8%, an increase of 1.6% compared to the previous month. Projections indicate that domestic electric vehicle (including commercial) wholesale sales will reach 1.3 million units in July, representing a 31.2% year-on-year growth. CSC Securities anticipates that the total electric vehicle sales will attain 16.5 million units by 2025.
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