- The CPCA estimates China's July NEV retail to come in at 1.01 million, up 14.64 percent year-on-year, but down 9.09 percent from June.
- Consumer demand was released in advance in June, and many automakers took high-temperature holidays in July.
China's passenger vehicle new energy vehicle (NEV) sales are expected to continue growing year-on-year this month, but will decline from June as the seasonal slowdown sets in.
In July, China's passenger NEV retail sales are expected to come in at 1.01 million units, with a penetration rate of around 54.6 percent, according to a report released by the China Passenger Car Association (CPCA) on July 24.
This represents a year-on-year increase of 14.64 percent, but a decrease of 9.09 percent compared to June, according to calculations by CnEVPost.
Based on preliminary estimates, China's overall passenger car retail sales in July were around 1.85 million units, up 7.6 percent year-on-year, but down 11.2 percent from June, according to the CPCA.
At the end of June, automakers and dealers took measures to achieve their half-year targets, which led to the early release of consumption potential, according to the CPCA.
At the same time, many automakers took high-temperature holidays in July, and production and sales entered a period of adjustment, according to the CPCA.
For reference, in July 2024, China's passenger car NEV retail sales were 881,021 units, up 37.44 percent year-on-year and up 2.88 percent month-on-month.
Passenger car makers that accounted for 80 percent of retail sales saw their retail targets for this month increase by 6 percent year-on-year, according to the report.
At the beginning of July, the overall discount rate in China's car market stabilized at around 25 percent, with promotional efforts weakening compared to the end of June.
In the first week of July, the average daily retail sales of passenger vehicles in China were 39,700 units, up 1.2 percent year-on-year, but down 5.8 percent compared to the same period last month.
In the second week, daily retail sales of passenger vehicles totaled 47,500 units, up 11.3 percent year-on-year, but down 4.3 percent compared to the same period last month.
In the third week, daily retail sales of passenger vehicles totaled 58,200 units, up 16.8 percent year-on-year, but down 19.8 percent compared to the same period last month.
The average daily retail sales of passenger cars in week 4 are expected to be 68,100 units, up 7.6 percent year-on-year, but down 28.8 percent from the same period last month.
The average daily retail sales of passenger cars in week 5 are expected to be 98,800 units, up 0.5 percent year-on-year, but down 2.9 percent from the same period last month.
