Core Insights - The retail sales of passenger cars in China from August 1 to 24 reached 1.285 million units, representing a year-on-year increase of 3% and a month-on-month increase of 3% [1][4] - Cumulative retail sales for the year have reached 14.031 million units, showing a year-on-year growth of 10% [1][4] - The wholesale of passenger cars during the same period was 1.341 million units, with a year-on-year increase of 12% and a month-on-month increase of 5% [1][9] Retail Market Performance - The average daily retail sales for the first three weeks of August were 45,000, 59,000, and 60,000 units respectively, with year-on-year changes of -4%, +8%, and +6% [3][4] - The retail penetration rate for new energy vehicles (NEVs) reached 56.6% during this period, with NEV retail sales totaling 727,000 units year-to-date, a 27% increase year-on-year [1][4] Wholesale Market Performance - The average daily wholesale for the first three weeks of August was 40,000, 63,000, and 71,000 units respectively, with year-on-year changes of +16%, +22%, and +2% [6][7][8] - Cumulative wholesale for the year stands at 16.866 million units, reflecting a year-on-year growth of 13% [1][9] Economic Context - China's economy grew by 5.3% in the first half of the year, easing pressures on local economic growth and supporting the automotive market [4] - Recent promotional policies and subsidies have been implemented to stimulate car sales, particularly in the context of the "trade-in" policy [4] Inventory and Production Trends - As of the end of July, the inventory of passenger cars was 3.29 million units, a decrease of 30,000 units from the previous month and a decrease of 40,000 units year-on-year [16] - The overall inventory pressure has decreased, with a sales-to-inventory ratio of 47 days, down from 53 days in July 2023 and 51 days in July 2024 [16]
乘联分会：8月1-24日全国乘用车市场零售128.5万辆 同比增长3%
智通财经网·2025-08-27 08:48