According to the Passenger Transport Association, in July 2026, the passenger car market showed five distinct characteristics: 1. Total energy penetration continued to rise, structural differentiation increased to the extreme, “deep fuel cooling and strong leadership in new energy sources” became the core main line of the market, and fluctuations in fuel prices dominated the rhythm of “oil and electricity substitution”; 2. Fuel vehicles contracted across the board. Among them, pure fuel models almost stalled, and hybrid models were relatively resistant to decline, leading to continuous optimization of the internal structure of fuel vehicles; 3. The penetration rate of new energy sources continued to break through new highs, and the new supply-side compliance national standard products were concentrated On the market on behalf of others, the industry is completely shifting from internal price to value competition; 4. Exports Continue to play a supporting role, effectively stabilize the wholesale and production capacity of car companies, and ease the weak pressure on domestic retail; 5. Industry inventories continue to be benign, the decline in manufacturer and channel inventories expands simultaneously, overall inventory risks have been fully released, industry operating pressure has been steadily relieved, and overall resilience has been repaired.

According to the Passenger Transport Association, in July 2026, the passenger car market showed five distinct characteristics: 1. Total energy penetration continued to rise, structural differentiation increased to the extreme, “deep fuel cooling and strong leadership in new energy sources” became the core main line of the market, and fluctuations in fuel prices dominated the rhythm of “oil and electricity substitution”; 2. Fuel vehicles contracted across the board. Among them, pure fuel models almost stalled, and hybrid models were relatively resistant to decline, leading to continuous optimization of the internal structure of fuel vehicles; 3. The penetration rate of new energy sources continued to break through new highs, and the new supply-side compliance national standard products were concentrated On the market on behalf of others, the industry is completely shifting from internal price to value competition; 4. Exports Continue to play a supporting role, effectively stabilize the wholesale and production capacity of car companies, and ease the weak pressure on domestic retail; 5. Industry inventories continue to be benign, the decline in manufacturer and channel inventories expands simultaneously, overall inventory risks have been fully released, industry operating pressure has been steadily relieved, and overall resilience has been repaired.