CPCA: July 2026 Passenger Vehicle Retail Sales Hit 1.461 Million Units, Down 20.9% Year-on-Year

In July 2026, national passenger vehicle retail sales totaled 1.461 million units, down 20.9% year-over-year and down 8.8% month-over-month. Cumulative retail sales for the first seven months of the year reached 10.173 million units, a 20.3% decline compared to the same period last year. Retail sales of internal combustion engine (ICE) vehicles dropped 41% year-over-year in July, with pure ICE vehicles falling 44% and conventional hybrid vehicles declining 4%. Domestic brand retail sales amounted to 1.04 million units, down 14% year-over-year, capturing a market share of 71.0%—an increase of 5.4 percentage points from the same period last year. Mainstream joint-venture brands sold 290,000 units, down 35% year-over-year, while luxury brands recorded retail sales of 130,000 units, down 27% year-over-year. New energy vehicle (NEV) retail sales declined 3.9% year-over-year in July. Among them, mainstream joint-venture brands saw a 36% year-over-year increase, while domestic and luxury brands fell by 4% and 23%, respectively. Passenger vehicle exports continued to provide crucial support in July, while industry inventory levels kept declining, with both manufacturer and channel inventories showing an accelerated pace of reduction.