China Passenger Car Association The narrow retail sales of passenger cars in June of this year are expected to be 183 million units

China Passenger Car Association expects June's narrow retail sales of passenger cars to reach 183 million units

【PhoneAuto News】On June 25th, PhoneAuto learned from the China Passenger Car Association that the retail sales of narrow passenger cars in June 2023 are expected to be 1.83 million units, a month-on-month increase of 5.2%. Due to the high base effect of multiple city unsealings in the same period last year, it is expected to decrease by 5.9% year-on-year. Among them, the retail sales of new energy vehicles are around 670,000 units, an increase of 15.5% month-on-month and an increase of 26.0% year-on-year, with a penetration rate of approximately 36.6%.

The retail sales of narrow passenger cars in June are expected to be 1.83 million units.

The China Passenger Car Association pointed out that the market demand slightly declined at the beginning of June, and the heat of the car market has slightly increased since mid-June due to the opening of the “618” promotion, the release of local subsidies, and the influence of the Dragon Boat Festival. Various manufacturers and dealers are actively launching various promotional marketing activities to hit the half-year target. Local subsidies combined with corporate half-year-end sales incentives have supported the continuous increase in terminal retail sales on a month-on-month basis.

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Specifically, the average daily sales of major manufacturers in the first week of June this year was 31,100, a decrease of 42% compared to the previous month, mainly due to the hot car market during May Day and the high base effect. Then, the average daily sales in the second week was 42,900, a decrease of 14% compared to the previous month. However, with the opening of mid-month promotion activities, the car market slowly warmed up in the third week, with an average daily retail sales of 57,500, an increase of 21% compared to the previous month. It is worth noting that with the arrival of the Dragon Boat Festival holiday in the fourth week, the terminal heat has increased, and the expected average daily retail sales are 62,000, an increase of 26% month-on-month. Finally, in the fifth week, due to the quarter-end manufacturer’s sales rush, the expected average daily retail sales are 113,700, an increase of 32% month-on-month.

Looking back at the previous market situation, in May 2023, the retail sales of passenger cars reached 1.742 million units, an increase of 28.6% year-on-year and 7.3% month-on-month. Among them, the retail sales of new energy vehicles in May were 580,000 units, an increase of 60.9% year-on-year and 10.5% month-on-month. The cumulative retail sales since this year are 2.421 million units, an increase of 41.1% year-on-year.

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