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CPCA: CN Aug Narrow Pax. Car Retail Sales Expected to Sag 20%+ YoY to 1.58M Units; NEV Retail Sales Seen at 1.04M Units
2026-08-24 10:58:31 In July, retail sales of passenger vehicles in narrow sense in China reached 1.461 million units, down 20.9% YoY, data from the China Passenger Car Association (CPCA) showed. Among them, retail sales of internal combustion engines vehicles (ICEVs) numbered 510,000 units, down 40.5%, with the decline deepening further from June; retail sales new energy passenger vehicle hit 951,000 units, with the downfall narrowing to 3.9%. The latest survey results showed that leading manufacturers accounting for more than 70% of total market sales set retail targets for this month at around 8% MoM growth, broadly in line with seasonal performance in previous years. Following high-temperature holidays at the beginning of the month, manufacturers gradually resumed normal production and sales rhythms. Based on actual terminal target completion progress, the retail market size for narrow passenger vehicles in August was estimated at about 1.58 million units, up 8.1% MoM, while the YoY slump was still expected to exceed 20%. Among them, retail sales of NEVs were projected at around 1.04 million units, with penetration rate reaching 65.8%. ~ AASTOCKS Financial News Website: www.aastocks.com | |