Passenger vehicle retail sales in China amounted to 1.356 million units in the August 1-27 period this year, up 6.0 percent year on year, while increasing by 3.0 percent month on month, according to the China Passenger Car Association (CPCA) based on the preliminary statistics.
In the current year up to August 27, passenger vehicle retail sales in China amounted to 12.653 million units, up 2.0 percent year on year. In the August 1-27 period, new energy passenger vehicle retail sales totaled 538,000 units, up 28.0 percent year on year, while increasing by 2.0 percent month on month.
In the current year up to August 27, new energy passenger vehicle retail sales reached 4.265 million units, up 35.0 percent year on year.
Currently, oil prices are at relatively high levels, contributing to the growth in new energy passenger vehicle retail sales. The new energy vehicle sales are also expected to accelerate in the future.