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IT Home reported on August 3 that Cui Dongshu of the China Passenger Car Association analyzed the national auto market in July yesterday, in which he mentioned that the year-on-year decline in terminal sales in the auto market that month further narrowed, and new energy vehicles benefited particularly significantly.

IT Home learned that Cui Dongshu said that in July, due to the traditional off-season, insufficient market demand, and extreme weather factors such as high temperature and flood disasters in some areas, the overall market trend was not strong. However, as the effect of the national "old for new" policy gradually emerged, as of noon on July 25, the automobile trade-in information platform had received 364,000 applications for automobile scrapping and renewal subsidies, with more than 10,000 new applications in a single day. The substantial increase in the number of applications reflects the gratifying effect of scrapping and renewal.

Refer to the "Several Measures on Strengthening Support for Large-Scale Equipment Renewal and Consumer Goods Trade-in" issued by the National Development and Reform Commission and the Ministry of Finance on July 25, which mentioned that relevant departments will increase the subsidy standard for automobile scrapping and renewal. The new subsidy standard is increased to 20,000 yuan for the purchase of new energy passenger cars and 15,000 yuan for the purchase of fuel passenger cars with a displacement of 2.0 liters or less.With the subsidy advantage of 5,000 yuan more for scrapped and updated new energy vehicles than for fuel vehicles, the consumer enthusiasm in the new energy vehicle market has been further stimulated, and the market performance of plug-in hybrid and extended-range vehicles has further strengthened.In July, the year-on-year decline in terminal sales in the auto market further narrowed, showing a trend of "the off-season is not slow", and new energy vehicles benefited particularly significantly.

Cui Dongshu also said that the market advantages of leading new energy companies have continued to expand recently, the market differentiation under different rights of oil and electricity has intensified, and the penetration rate of new energy has continued to increase. In the national passenger car market, the wholesale sales of manufacturers with new energy sales of more than 10,000 vehicles in June 2024 accounted for 90.6% of the total new energy passenger car sales in June. The estimated sales of these manufacturers with new energy sales of more than 10,000 vehicles in June in July are 860,000 vehicles. According to the structural proportion forecast of last month,The national wholesale sales of new energy passenger vehicles in July were around 950,000 units. Based on the domestic retail sales, it is predicted that the penetration rate of new energy vehicles will reach 50%.。