China's NEV New Car Penetration Rate First Exceeds 60% in July 2026

According to data released by the China Association of Automobile Manufacturers (CAAM) on August 17, 2026, China's new energy vehicle sales reached 1.561 million units in July, up 23.7% year-on-year. The monthly penetration rate of NEVs among new car sales exceeded 60% for the first time, while the cumulative share for the first seven months of 2026 crossed the 50% threshold for the first time. Additionally, automobile exports have exceeded one million units for two consecutive months, with NEV exports accounting for more than half of the total. The data confirms that China's automobile industry has fully entered an electrification-led cycle.