April Passenger Car Sales Top 1 Million, NEV Penetration Hits 60%

As of April 26, national passenger vehicle retail sales reached 1.004 million units, with 614,000 units being new energy vehicles (NEVs), accounting for a penetration rate exceeding 60%. Sales momentum slowed during the first week of April due to the Qingming holiday, leading most automakers to adopt a cautious outlook for the month. However, retail foot traffic and orders rebounded somewhat in the third and fourth weeks following the Beijing Auto Show, although delivery fulfillment still requires time to catch up. With the continued impact of the auto show and the gradual commencement of deliveries for newly launched models, total passenger vehicle retail sales for April are expected to reach 1.42 million units.