China Passenger Vehicle Retail Sales Fall 18% YoY in First 26 Days of July, NEV Penetration Rises to 65.7%7月1-26日中国乘用车零售同比下滑18%,新能源渗透率升至65.7%
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CPCA data shows passenger vehicle retail sales totaled 1.123 million units in July 1-26, down 18% year-over-year and 13% from June, with year-to-date retail at 9.824 million units, down 20% from a year ago.
New energy vehicle retail sales reached 738,000 units in the same period, down a milder 2% year-over-year (10% below June), bringing cumulative 2026 NEV retail to 5.44 million units, a 13% annual decline.
NEV retail penetration climbed to 65.7% and wholesale penetration hit 70% in July 1-26, underscoring that the NEV segment is holding up better than the broader passenger vehicle market.