According to the China Passenger Car Association (CPCA), retail sales of gasoline-powered vehicles in July 2026 decreased by 41% year-on-year, with pure gasoline vehicles down 44% and conventional hybrid vehicles down 4%. Among gasoline-powered vehicles, domestic brands saw a 46% decrease, mainstream joint ventures a 40% decrease, and luxury brands a 28% decrease, all of which were severely impacted by high oil prices.