China’s wholesale sales of passenger NEVs in April reached an estimated 1.14 million units, marking a 42 percent year-on-year increase and a 1 percent growth from the previous month. Major carmakers contributed significantly to this growth, with BYD leading the pack at 372,615 units, followed by Geely at 125,563 and SAIC-GM-Wuling at 77,878.
The overall new energy vehicle (NEV) market in China saw continued growth in April, signaling the end of the slow season at the beginning of the year. The China Passenger Car Association (CPCA) reported that wholesale sales of passenger NEVs in the country totaled 1.14 million units, reflecting a 42 percent year-on-year increase.
In March, manufacturers with wholesale sales exceeding 10,000 units of passenger NEVs accounted for 92.5 percent of all NEV sales for the month. These carmakers are estimated to have sold 1.05 million units in April, leading to the total wholesale sales figure of 1.14 million units for passenger NEVs in China.
The January-April period saw a total of 4 million NEVs sold in China, representing a 42 percent year-on-year increase. NEVs in China encompass battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles, with specific sales numbers expected to be released later this month.
The implementation of the trade-in policy has driven the success of new NEV models, resulting in record sales for several major carmakers. Leapmotor, Xpeng, Xiaomi, and Nio all experienced near-record-high performances, while second-tier manufacturers also contributed to the overall growth of NEV sales in the country.
In addition to the leading carmakers mentioned earlier, Tesla and Changan Automobile also made significant contributions to China’s wholesale NEV sales. BYD reported selling 380,089 NEVs in April, including 372,615 passenger NEVs and 7,474 commercial NEVs.
Overall, the NEV market in China is experiencing robust growth, fueled by a combination of government policies, consumer demand for environmentally-friendly vehicles, and the introduction of innovative new models by manufacturers. The industry is poised for further expansion as more automakers enter the market and technological advancements continue to drive progress in the sector.
