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\u00a0 \u00a0 \u00a0 \u00a0 \u00a0China’s domestic passenger vehicle (“PV”) retail sales are anticipated to reach 1.75 million units in June 2024, which should climb 2.3% from the previous month, but drop 7.6% from the previous year, according to the China Passenger Car Association (“CPCA”).<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 \u00a0The outlook for new energy vehicle (NEV) manufacturers remains optimistic, with June’s NEV retail sales expected to reach 860,000 units in China, a 6.9% increase from May. The NEV penetration rate is anticipated to hit a new high of 49.1%.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 \u00a0For clarity, the passenger vehicles hereby refer to the cars, SUVs, and MPVs locally produced in the world’s largest auto market.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 \u00a0In June, the first week included the full Dragon Boat Festival holiday, causing a slight delay in delivery schedules compared to the same period last year. Average daily retail sales were 36,000 units for the week, down 8.3% year on year and 23% month on month.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 \u00a0Average daily retail sales amounted to 45,700 units in the second week of June, a decrease of 18.6% year-on-year but a slight increase of 0.9% month-on-month.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 \u00a0In the third week, boosted by the “618” shopping festival, manufacturers intensified their promotional efforts, leading to a recovery in market activity. Average daily retail sales are expected to be 55,200 units in the week, down 22.4% year-on-year but up 19.6% month-on-month.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 \u00a0For the fourth week, considering manufacturers’ efforts to meet semi-annual targets and quarterly financial reports, average daily retail sales are projected to reach 104,100 units, an increase of 9.6% year-on-year and 28.8% month-on-month.<\/p>\n<\/article>","protected":false},"excerpt":{"rendered":"

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0China’s domestic passenger vehicle (“PV”) retail sales are anticipated to reach 1.75 million units in June 2024, which should climb 2.3% from the previous month, but drop 7.6% from the previous year, according to the China Passenger Car Association (“CPCA”). \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0The outlook for […]<\/p>\n","protected":false},"author":1,"featured_media":5438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newslist-136510-1"],"acf":[],"yoast_head":"\n