China Association of Automobile Manufacturers: It is estimated that the retail market for narrow passenger cars in June will be approximately 1.65 million units, representing a month-on-month growth of 9.3%.

The China Passenger Car Association predicts that the car market in June will continue to recover, despite macroeconomic weakness, the off-season due to high temperatures, constraints such as overspending at the end of May, etc. The continuous and steady implementation of the policy of trading in old cars for new ones, the concentration of many heavy-duty new cars on the market, the overlapping promotions of the Dragon Boat Festival and the 618 online shopping festival have formed a phase of promotion window. With multiple supports, the recovery momentum in June is expected to be roughly the same as in May. The latest research results show that the leading manufacturers, which account for about 70% of the total market sales, have increased their retail targets by about 10% compared to the previous month, actively pushing towards their year-end sales targets. Combined with preliminary estimates of terminal performance, the retail market size of narrow passenger cars in June is estimated to be around 1.65 million vehicles, with a month-on-month growth of 9.3%. The retail volume of new energy vehicles is expected to be around 1.05 million vehicles, with a month-on-month growth of 10.5% and a penetration rate of about 63.6%. The differentiation between new energy vehicles and traditional fuel vehicles continues to widen.