Passenger vehicle retail sales in China are expected to amount to 1.73 million units in July this year, down 2.0 percent year on year, while also decreasing 2.0 percent month on month, according to the preliminary statistics by China Passenger Car Association (CPCA).
In July, new energy passenger vehicle retail sales totaled 860,000 units, almost remaining stable month on month, with the market penetration rate of NEVs estimated to have increased to 49.7 percent.