The China Passenger Car Association (CPCA) has stated that passenger vehicle retail sales in China amounted to 1.541 million units in August this year, down 5.5 percent month on month, while down 23.6 percent year on year.
In particular, new energy vehicle retail sales in China totaled 1.005 million units, rising by 5.7 percent month on month, while down 10.1 percent year on year, with the market penetration rate of NEVs standing at around 65.2 percent in August, constituting the highest level in a single month, with NEVs being the primary driving force behind vehicle sales.
In the January-August period this year, China's new energy vehicle retail sales totaled 6.674 million units, down 12.1 percent year on year.
