China Passenger Car Association: Retail sales of passenger cars in China reached 208.4 thousand units in June, setting a new monthly record, with retail sales of new energy vehicles increasing by 29.7% year-on-year

In June, China's passenger car market performed strongly, with retail, wholesale, production, and export volumes all reaching historical highs. The industry's "anti-involution" effect is significant, with inventories of passenger cars and new energy vehicles both declining in June. The retail penetration rate of domestic new energy vehicles rose to 53.3% in June, thanks to strong support from inclusive policies such as scrapping and updating, trade-in programs, and tax exemptions