CPCA identifies three core drivers of strong June new-energy passenger-vehicle growth. First, sustained high retail fuel prices—tightened by Strait of Hormuz shipping disruption—pushed running costs for internal-combustion cars sharply higher, accelerating consumer switching to NEVs and creating rigid demand support. Second, OEMs accelerated ICE-to-NEV production shifts and released capacity, lifting wholesale volumes MoM by over 10% in June and speeding the supply-side response. Third, elevated

CPCA identifies three core drivers of strong June new-energy passenger-vehicle growth. First, sustained high retail fuel prices—tightened by Strait of Hormuz shipping disruption—pushed running costs for internal-combustion cars sharply higher, accelerating consumer switching to NEVs and creating rigid demand support. Second, OEMs accelerated ICE-to-NEV production shifts and released capacity, lifting wholesale volumes MoM by over 10% in June and speeding the supply-side response. Third, elevated international oil prices triggered a surge in overseas demand for low-energy, high-value NEVs; Chinese domestic brands’ mature electrification and cost advantages are substituting for ICEs abroad, expanding exports and reinforcing domestic production and sales.