On August 6th, the China Passenger Car Association (CPCA) released its latest figures, revealing a robust performance in the national new energy passenger vehicle market during July. From July 1st to 31st, a total of 1,003,000 new energy passenger vehicles were sold at retail level, marking a 14% increase year-on-year and a 10% decrease month-on-month, with a market penetration rate of 54.7%. Since the start of the year, cumulative retail sales of new energy passenger vehicles have reached 6,472,000 units, up 30% compared to the same period last year.

Furthermore, in July, manufacturers wholesaled 1,179,000 new energy passenger vehicles, representing a 25% year-on-year growth and a 4% month-on-month decline, with a wholesale penetration rate of 53.8%. Since the beginning of 2023, the cumulative wholesale volume has surged to 7,627,000 units, indicating a 35% year-on-year increase.