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China NEV retail sales dip 9% in early September but still outperform slumping auto market

China's retail sales of new energy vehicles fell 9% year-on-year to 596,000 units in the first 20 days of September, yet NEVs captured 67.9% of passenger car retail sales. The broader passenger car market slumped 22% as gasoline-powered vehicle sales continued to decline sharply.