NEV Penetration Breaks 65% as ICE Vehicle Sales Plunge 47%
In July 2026, China's passenger NEV retail penetration exceeded 65% for the first time, while gasoline vehicle sales plummeted 47.2% YoY. NEVs claimed 9 of the top 10 sales spots, leaving only one ICE model. Despite 31 ICE models cutting prices by an average of 14.1% in H1, the decline proved unstoppable.
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