monthly data

China July NEV retail sales dip 2% to 970,000; record 64.4% penetration

Preliminary CPCA data shows China's July NEV retail sales fell 2% year-on-year to 970,000 units, marking the seventh straight monthly decline but a narrower drop than June. NEV penetration hit a record 64.4% as overall passenger vehicle sales plunged 18%, with gasoline demand collapsing.