Passenger Link Branch: Domestic passenger car retail sales in the narrow sense of the word fell 20.9% year-on-year in July, down 20.9% year-on-year, with a cumulative decrease of 20.3% in January-July

The Zhitong Finance App learned that on August 12, the Passenger Transport Association published an article stating that according to the latest sales statistics from the Passenger Vehicle Market Information Joint Branch of the China Automobile Dealers Association, retail sales in the narrow sense of the domestic passenger car market reached 1.461 million units in July 2026, down 20.9% year on year and 8.8% month on month; the cumulative sales volume in January-July was 10.173 million units, down 20.3% year on year.

July analysis: The characteristics of the seasonal off-season in the car market in July were highlighted. It was also due to multiple factors such as a rebound in oil prices, overdraft demand in the first half of the year, and policy changes. The new national safety standard has been officially implemented, marking a rise in the threshold for new energy technology. Summer travel consumption continued to weaken, reflecting the lack of confidence in residents' income expectations, which dragged down demand for terminals in the car market. Exports became a bright spot, all with significant year-on-year increases. This round of market downturn is a phased structural fluctuation rather than a trend deterioration in the industry.