New Energy Vehicle Retail Penetration Hits Record High of 62.9% in May

In May 2026, national retail sales of consumer goods rose by 1.2% year-on-year. Among essential daily necessities, retail sales of grain, oil, and food products increased by 7.4% year-on-year, followed by clothing, footwear, and headwear (+7.2%), beverages (+6.0%), and daily household items (+4.6%). In the category of upgraded consumption goods, cosmetics sales grew by 4.9% year-on-year. Boosted by factors such as the May Day holiday and spring vacation travel incentives, revenue growth in service-related sectors—including travel, cultural tourism, and dining—was notably strong. That month, the retail penetration rate of new energy vehicles reached a record high of 62.9%. From January to May, retail sales of communication appliances surged by 13.8% year-on-year. Data from major e-commerce platforms showed that sales of smart glasses soared by 2.8 times year-on-year, while handheld photography equipment, smart glucose meters, and organic food saw sales increases of 24.2%, 14.7%, and 3.6%, respectively.