The advent of vehicle-to-everything (V2X) communication technology, as well as driving automation that is happening at a rapid pace, enables the potential for transforming the transportation system. The near future will, therefore, bring the coexistence of human-driven vehicles (HVs), connected vehicles (CVs), and connected and automated vehicles (CAVs). Correspondingly, platoon management based on V2X communication is expected to improve traffic capacity and fuel efficiency. However, there is a lack of analysis of the impact of platoon management on heterogeneous traffic combined with CVs. Moreover, V2X communication limitation is usually dismissed in existing studies. To address these limitations, this paper explores the impact of platoon management on the capacity of heterogeneous-traffic environments under different CV and CAV market penetration rates (MPRs) with the fundamental diagram considering V2X communication limitations, and further studies the changes in capacity and fuel efficiency of traffic combined with different platoon sizes. Firstly, in light of platoon management, we propose the heterogeneous traffic configurations through distribution characteristics of nine types with simulated models. Secondly, the fundamental diagram considering platoon management with V2X communication limitation is proposed under different CV and CAV MPRs. Thirdly, numerical simulations are conducted to demonstrate the impact of platoon size on the changes in capacity and fuel efficiency of traffic. Conclusions are drawn from the results of the simulations: with the cooperation of CVs and CAVs, the traffic capacity and the fuel efficiency will be promoted, particularly under high CV MPR or high CAV MPR environments.