June NEV Retail Expected to Exceed 1.05 Million, Penetration May Hit 63.6% Record

According to CPCA forecasts, June 2026 China passenger vehicle NEV retail sales may reach approximately 1.05 million units, up 10.5% MoM from May, with penetration potentially climbing to 63.6%—a new record. Policy support includes steady effects from trade-in subsidies and strong half-year closing momentum from automakers. However, first-three-weeks data shows retail sales still down 10% YoY due to Dragon Boat Festival base effects and World Cup impact. Wholesale performed stronger: Jan 1-21 NEV wholesale reached 673,000 units, up 8% YoY.