China's June new‑energy vehicle sales exceed 60% of all cars, driven by trade‑in incentives

In June, new‑energy vehicles (NEVs) accounted for 62.8% of all new‑car sales in China, meaning roughly six out of every ten cars sold were electric or hybrid models. The Ministry of Commerce reported that the nationwide retail penetration of NEVs reached this historic high, reflecting strong consumer demand.

A government‑backed trade‑in program for consumer goods, including automobiles, further accelerated the shift. The scheme generated about 1.1 trillion yuan in sales and benefited 1.5 billion consumer trips. Within the automotive sector, 370.7 thousand vehicles were exchanged, with NEVs representing 65.4% of those trade‑ins. The program also boosted sales of digital and smart products, but the main impact was on the rapid electrification of China's car market.