April 1–19: China Passenger Vehicle Retail Sales Hit 627,000 Units, Down 26% YoY; NEV Penetration Reaches 61.7%

From April 1 to 19, retail sales of passenger vehicles nationwide totaled 627,000 units, down 26% year-over-year and down 18% compared to the same period in March. Cumulative retail sales for the first four months of this year reached 4,848,000 units, a 19% decline year-over-year. During the same period (April 1–19), retail sales of new energy passenger vehicles (NEVs) nationwide amounted to 387,000 units, down 14% year-over-year and down 5% compared to the same period in March. Cumulative NEV retail sales for the first four months of the year totaled 2,295,000 units, down 20% year-over-year. From April 1 to 19, the retail penetration rate of new energy vehicles in the national passenger vehicle market stood at 61.7%, while the wholesale penetration rate of NEVs among automakers was 54.7%.