August New Car Sales
Beijing recorded 50,400 new car transactions in August, a decrease of 4.24% from July and 11.7% from the same month last year. The month-on-month growth rate was 9.14 percentage points lower than the national figure, while the year-on-year decline was 6.6 percentage points steeper than the national level.
The August month-on-month decline narrowed by 23 percentage points from July's -27.03%, after the inflated base of 72,100 units formed by concentrated deliveries in June was largely absorbed. The year-on-year decline of 11.7% was only about 1 percentage point narrower than July's 12.78%.
Cumulative January-August Performance
Beijing's cumulative new car transactions for January to August reached 373,000 units, compared with 421,700 units in the same period last year, a decline of 11.53%. The cumulative decline was 7.73 percentage points steeper than the national average and remained essentially flat from the 11.51% decline recorded in January-July.
New Energy Vehicles
New energy vehicles accounted for 72.77% of Beijing's total new car transactions in August, with 36,700 units traded. This was down 7.71% from July and up 0.04% from a year earlier. The share slipped 2.74 percentage points from July's historic high of 75.51%. The year-on-year growth rate slowed to 0.04% from 0.63% in July.
Battery electric vehicles totaled 26,600 units in August, representing 72.42% of new energy vehicle sales and approximately 52.8% of the overall new car market, slightly below July's 54.4%.