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.
1634 hours ago
China's passenger NEV retail sales reached 951,000 units in July 2026, down 3.9% YoY for a seventh consecutive monthly decline. Yet NEV retail penetration surged to a record 65.1%, while conventional ICE vehicle sales plummeted 41% YoY. Exports remained the sole growth engine.
20217 hours ago
Luxury fuel vehicle used car prices have fallen sharply, with market transactions continuing to shrink. As new energy vehicle penetration continues to rise, the resale value of traditional luxury fuel vehicles continues to decline.
50132 days ago
Affected by ongoing Middle East tensions, Toyota has announced a reduction of 830,000 units in its overseas production target for June-November 2026. Toyota expects fiscal year 2026 pure ICE vehicle sales to decline 16.4% year-over-year, with growth momentum shifting to hybrids. The Middle East conflict has driven oil prices to surge, accelerating the global shift toward new energy vehicles.
55373 days ago
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