Core Data: In the first half of the year, domestic passenger vehicle retail reached 9.921 million units, a year-on-year decline of 21.1%; automobile exports reached 5.096 million units, a significant year-on-year increase of 65.3%. June exports alone hit 1.037 million units, breaking the 1-million mark for the first time in a single month, with the half-year export total exceeding the combined sum of Japan and South Korea.
NEV Penetration: Domestic new energy passenger vehicle penetration reached 55.4%; in May, pure electric vehicle (BEV) penetration hit 42.2%, surpassing fuel vehicles for the first time in history. Sales of high-end NEV models above 400,000 RMB surged 46% YoY, with local brands capturing 59% of the high-end market share.
Market Changes: The intensity of price wars has notably cooled, with over 20 carmakers raising prices of mainstream models; sales of entry-level commuter models under 50,000 RMB plummeted 55%. Small and medium-sized carmakers with weak R&D capabilities are accelerating their exit from the market; home-use NEV models in the 100,000-150,000 RMB range have become the main sales force.