Beyond fuel vehicles! China's new energy vehicle penetration rate exceeded 50% for the first time in July, attracting attention

According to news on August 8, China’s new energy vehicle industry has ushered in an important milestone. According to statistics recently released by the China Passenger Car Association, in July 2024, the penetration rate of new energy vehicles exceeded 50% for the first time, which means that in new car sales, the sales of new energy vehicles have exceeded that of traditional fuel vehicles. Specifically, from July 1 to 31, the passenger car market retailed 1.729 million units, a decrease of 2% year-on-year and a decrease of 2% from the same period last month. Since the beginning of this year, the cumulative retail sales of 11.568 million units have increased by 2% year-on-year; 7 From January 1st to 31st, passenger car manufacturers nationwide wholesaled 1.956 million units, a decrease of 5% year-on-year and a decrease of 10% from the same period last month. Since the beginning of this year, a total of 13.708 million units have been wholesaled, a year-on-year increase of 4%. From July 1 to July 31, 879,000 new energy vehicles were sold in the passenger car market, a year-on-year increase of 37% and an increase of 3% from the same period last month. A total of 4.991 million units have been sold so far this year, a year-on-year increase of
34%; July 1 On the 31st, passenger car manufacturers nationwide wholesaled 955,000 new energy vehicles, a year-on-year increase of 30% and a year-on-year decrease of 3%.


Based on this data, the retail sales of

new energy vehicles accounted for 50.84% ​​in July 2024.

According to the editor’s understanding, this breakthrough penetration rate did not appear suddenly. As early as the first half of April 2024, the domestic retail penetration rate of new energy vehicles has exceeded 50% for the first time. In the third week of May, the number of new energy passenger vehicles insured reached 168,000, and the penetration rate of

new energy terminals also exceeded 50% for the first time, reaching 50.2%, officially exceeding that of fuel car. Now, this trend has been further consolidated in July, with the penetration rate of new energy vehicles maintaining a level of over 50% throughout the month. BYD Co., Ltd.Executive Vice President He Zhiqi also confirmed this. He pointed out that in July, the terminal insurance penetration rate of China's new energy vehicles

reached 50.8%, marking that

new energy vehicles have truly become mainstream. , fuel becomes a minority. -->

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