The passenger vehicle segment: New energy passenger vehicle market sold 905,000 units in April, an increase of 33.9% year-on-year.

The data from the China Passenger Car Association shows that in April, the retail sales of new energy passenger vehicles reached 905,000 units, an increase of 33.9% compared to the same period last year, but a decrease of 8.7% from the previous month. From January to April, the cumulative retail sales reached 3.324 million units, a growth of 35.7%. In April, the retail penetration rate of new energy vehicles in the overall passenger car market in China was 51.5%, an increase of 7 percentage points from the same period last year. In April, the penetration rate of new energy vehicles in domestic retail sales was 72.8% for domestic brands, 23.5% for luxury brands, and only 6.8% for mainstream joint venture brands. Looking at the monthly market share of new energy vehicles in China, in April, domestic brands had a market share of 73%, an increase of 0.4 percentage points compared to the previous year; mainstream joint venture brands had a market share of 3.4%, a decrease of 1.5 percentage points; new forces had a market share of 19.4%, with brands like Xiaopeng, Leap Motor, and Xiaomi driving a 3.6 percentage point increase in market share; Tesla had a market share of 3.2%, a decrease of 1.5 percentage points compared to the previous year.