CPCA

China's NEV retail penetration rate reached 59.5% between April 1 and April 12.

BYD captured a 22.8% share of China's NEV retail market in March, expanding its lead over Geely.

China's retail sales of passenger NEVs in March reached 848,000 units, surging 82.6% from February, but falling 14.4% year-on-year.

The broader passenger vehicle market also faced downward pressure in early April, with first-week retail sales sliding 29% year-on-year.

China passenger NEV retail sales stood at 784,000 units in March, down 21% year-on-year but up 69% from February.

CPCA estimated China's passenger NEV wholesale sales reached 1.12 million units in March, with BYD topping all automakers and Tesla ranking third.

China's NEV retail sales came in at 495,000 units from March 1 to 22, contributing 53.9% of total passenger car sales.

China's NEV retail sales in March are expected to nearly double from February's trough, with the penetration rate returning above 50%.

In the overall passenger car retail market, Geely ranked first with a 14.1% share, while BYD ranked second with an 8.6% share.

Exports of passenger NEVs from China surged 124.7% to 269,000 units, providing a strong bright spot for Chinese automakers.