China Passenger Car Association: Narrow-sense passenger car retail sales in July are expected to be around 1.73 million, a decrease of about 2% compared with the same period last month.

The latest research results of the Federation of Passenger Cars show that the retail volume of the top manufacturers, which accounts for about 80% of the total market, has a year-on-year decrease of 1.7% and a month-on-month decrease of 2.2% in retail targets this month. It is preliminarily estimated that the total retail market scale of narrow passenger cars in July is about 1.73 million vehicles, with a slight decrease of about 2.0% year-on-year. Plug-in hybrid vehicles are rising rapidly, which is beneficial to the new energy market. It is estimated that the retail of new energy vehicles in July can reach 860,000, which is basically the same as June, and the penetration rate is expected to further increase to 49.7%.