In July, the national passenger car sales volume decreased year-on-year, while new energy vehicles performed well.

According to the latest data from the China Passenger Car Association, the wholesale sales of passenger car manufacturers nationwide in July were 1.965 million units, down 4.9% year-on-year and 9.4% month-on-month. However, new energy vehicles performed well, with wholesale sales reaching 945,000 units, up 27.6% year-on-year and down 3.6% month-on-month. The wholesale penetration rate reached 48.1%, an increase of 12.4 percentage points from 35.7% in July 2023.