Shulou(Shulou.com)11/24 Report--

According to news from CTOnews.com on August 24, the passenger Federation initially estimated that the narrow passenger car retail market in August was about 1.85 million vehicles, 4.7% month-on-month and-1.3% year-on-year. New energy retails about 700000 vehicles, 9.2% month-on-month, an increase of 31.5% over the same period last year, and a penetration rate of about 37.8%.

The HKIFA pointed out that the number of damaged vehicles after the local rainstorm in early August was relatively small, which had a limited impact on the overall car market. August terminal continues the previous promotion efforts, mainstream manufacturers carry out a new round of price reduction promotion, support for the car market remains stable. Driven by the "818 car purchase Festival" and the Chengdu Auto Show at the end of the month, the August car market remains hot.

According to the July data of the Federation of passengers, retail sales in China's passenger car market reached 1.775 million in July, down 2.3 per cent from the same month last year and 6.3 per cent from the previous month. CTOnews.com notes that wholesale sales of new energy vehicles reached 737000, up 30.7 per cent from a year earlier and down 3.1 per cent from a month earlier.

In addition, retail sales of new energy vehicles in July were 641000, up 31.9 per cent from a year earlier and down 3.6 per cent from a month earlier. Retail sales totaled 3.725 million vehicles so far this year, an increase of 36.3% over the same period last year.

According to the survey results of Tuyuan Pexels China Automobile Circulation Association, the comprehensive inventory coefficient of automobile dealers in July was 1.70, up 25.9% from the previous month and 17.2% from the same period last year. Dealers completed terminal replenishment before the high temperature holiday in August, and the overall inventory level increased.

The Federation said that the sales of new products listed in the new energy market continued to climb in the second quarter, and the main new products have begun to sell. The number of new cars listed in the second half of the year is higher than that in the first half of the year, which constitutes a strong support for the new energy vehicle market in August and even the second half of the year in terms of product supply.

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