China's passenger vehicle market information joint meeting announced that in August, the national narrowly defined passenger vehicle retail sales were 1.905 million vehicles, a year-on-year decrease of 1.0%, and a monthly increase of 10.8%. In the first eight months of 2024, cumulative retail sales reached 13.472 million vehicles, a year-on-year increase of 1.9%. Conventional gasoline vehicle retail sales were 7.44 million vehicles, a 15% year-on-year decrease.

The data also shows that in August, the new energy passenger vehicle market retail was 1.027 million vehicles, an annual increase of 43.2%, and a monthly increase of 17%. In the first eight months of 2024, cumulative retail sales were 6.016 million vehicles, with a year-on-year growth of 35.3%. Mainland China's new energy vehicle retail penetration rate is 53.9%.