China Auto Market

Chinese automakers have now crossed the inflection point for global influence, with local brands expected to hold 65 percent of the market share in China by 2030, AlixPartners said.

Retail penetration of NEVs in China was 36.92 percent from June 1 to June 25, and 32.50 percent year-to-date.

So far this year, China's retail sales of passenger NEVs were 2.74 million units, up 35 percent year-on-year.

From June 1 to June 11, retail sales of all passenger vehicles in China were 425,000 units, down 10 percent year-on-year and down 25 percent from the same period last month.

The moves include holding auto festivals in 100 cities and promoting consumption of NEVs in rural areas.

In the first four weeks of May, retail sales of all passenger vehicles in China were 1,392,000 units, up 19 percent year-on-year but down 6 percent from the same period last month, according to the CPCA.

Retail penetration of NEVs in China was 35.6 percent in the first three weeks of May.

As price wars fade and consumer wait-and-see sentiment eases, pent-up demand has been released, the CPCA said.

Independent economist Ren Zeping has suggested that China introduce a timetable to ban the sale of fuel cars within five years and have regions south of Hebei actively develop the new energy sector.

China will implement the China 6b emissions standard on July 1, although some models will be given a six-month sales transition period.