China Passenger Car Association: 1.04 million units of retail sales for independent brands in July.

According to the China Passenger Car Association, in July, domestic brands sold 1.04 million units, a year-on-year decrease of 14% and a month-on-month decrease of 6%. In that month, the domestic retail market share of domestic brands was 71.0%, an increase of 5.4 percentage points year-on-year. Domestic brands maintained overall stability in the new energy and export markets. In July, mainstream joint venture brands sold 290,000 units, a year-on-year decrease of 35% and a month-on-month decrease of 12%. In July, the retail share of German brands was 12.4%, a year-on-year decrease of 2.0 percentage points, while Japanese brands had a retail share of 10.9%, a year-on-year decrease of 1.9 percentage points. American brands held a market retail share of 4.2%, a year-on-year decrease of 1.0 percentage point. Low-sales joint venture car companies are gradually regaining vitality. In July, luxury car sales were 130,000 units, a year-on-year decrease of 27% and a month-on-month decrease of 23%. With the reasonable return of luxury car guide prices, the retail share of luxury brands in July was 8.7%, a year-on-year decrease of 0.7 percentage points.