乘联分会：7月1-27日全国乘用车市场零售144.5万辆 同比增9% 环比降19%

Core Insights - The retail sales of passenger cars in China from July 1 to 27 reached 1.445 million units, representing a year-on-year increase of 9% but a month-on-month decline of 19% [1][5] - Cumulative retail sales for the year amount to 12.346 million units, showing an 11% year-on-year growth [1][5] - Wholesale sales during the same period totaled 1.505 million units, marking a 17% year-on-year increase but a 25% decline from the previous month [1][8] - Cumulative wholesale sales for the year stand at 14.785 million units, reflecting a 13% year-on-year growth [1][8] Retail Market Performance - The retail of new energy vehicles (NEVs) reached 789,000 units from July 1 to 27, a 15% increase year-on-year but a 17% decrease month-on-month [1][5] - The penetration rate of NEVs in the retail market is 54.6%, with cumulative retail sales for the year at 6.258 million units, a 31% year-on-year increase [1][5] - The wholesale of NEVs during the same period was 816,000 units, up 17% year-on-year but down 20% month-on-month [1][5] Weekly Sales Trends - Daily average retail sales for the first week of July were 40,000 units, a 1% increase year-on-year but a 6% decrease month-on-month [4] - Daily average retail sales increased to 48,000 units in the second week, reflecting an 11% year-on-year growth but a 4% decline from the previous week [4] - The third week saw daily average retail sales rise to 58,000 units, a 17% year-on-year increase but a 20% month-on-month decline [4] - By the fourth week, daily average retail sales reached 67,000 units, showing a 5% year-on-year growth but a significant 30% decrease from the previous month [4] Market Dynamics - The domestic economic situation has improved, particularly in exports, which has stabilized domestic demand [5] - The passenger car market is experiencing structural differentiation, with traditional fuel vehicle inventories increasing amid market contraction [5] - The market is entering a consolidation phase, with expectations of a prolonged summer break affecting sales [5] - The monthly sales patterns are becoming more stable, with July historically contributing a larger share to annual sales in recent years compared to earlier periods [5]