According to the Passenger Transport Association, the weakening of the car market in July 2026 was caused by multiple factors such as a rebound in oil prices, weakening macroeconomic conditions, seasonal off-season, early demand overdrafts, and policy changes. The geographical conflict caused disturbances in navigation in the Strait of Hormuz, driving international oil prices to fluctuate upward. Domestic gasoline prices rose by a total of 1,575 yuan/ton in 2026, drastically increasing vehicle costs. Consumer demand for fuel passenger vehicles has shrunk sharply, but the impact on commercial vehicles is minimal. Meanwhile, in July, CPI and PPI declined month-on-month, and the PMI boom declined. Residents' income and consumption expectations were cautious, their willingness to spend large amounts of durable goods was sluggish, and travel consumption continued to weaken, dragging down demand for terminals in the car market. Combined with the low heat season in July, which suppressed offline customer traffic and the June half-year impulse overdrafted market demand ahead of schedule, terminal orders and passenger traffic declined simultaneously. Furthermore, the new national standard for new energy safety was officially implemented, the technical threshold for the industry was raised, and the short-term clearance of low-end models disrupted the market. However, the July Politburo meeting clarified policies to strengthen fiscal policy and increase domestic demand to promote consumption, providing bottom support for the car market. This round of market decline is a phased structural fluctuation, not a trend deterioration in the industry.

According to the Passenger Transport Association, the weakening of the car market in July 2026 was caused by multiple factors such as a rebound in oil prices, weakening macroeconomic conditions, seasonal off-season, early demand overdrafts, and policy changes. The geographical conflict caused disturbances in navigation in the Strait of Hormuz, driving international oil prices to fluctuate upward. Domestic gasoline prices rose by a total of 1,575 yuan/ton in 2026, drastically increasing vehicle costs. Consumer demand for fuel passenger vehicles has shrunk sharply, but the impact on commercial vehicles is minimal. Meanwhile, in July, CPI and PPI declined month-on-month, and the PMI boom declined. Residents' income and consumption expectations were cautious, their willingness to spend large amounts of durable goods was sluggish, and travel consumption continued to weaken, dragging down demand for terminals in the car market. Combined with the low heat season in July, which suppressed offline customer traffic and the June half-year impulse overdrafted market demand ahead of schedule, terminal orders and passenger traffic declined simultaneously. Furthermore, the new national standard for new energy safety was officially implemented, the technical threshold for the industry was raised, and the short-term clearance of low-end models disrupted the market. However, the July Politburo meeting clarified policies to strengthen fiscal policy and increase domestic demand to promote consumption, providing bottom support for the car market. This round of market decline is a phased structural fluctuation, not a trend deterioration in the industry.