Domestic auto sales collapse in August, NEV penetration hits new high

Domestic auto retail sales fell 23.6% y/y in August, the ninth consecutive month of double-digit declines (CPCA). Internal combustion engine (ICE) vehicle sales fell to 540,000 units, down ~40% y/y. NEV sales fell 9.5% y/y to 1,005,000 units. Despite the decline, this was the second-best monthly sa...

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