CPCA

Overall passenger car retail sales in April are estimated to be around 1.75 million units, up 14.4 percent year-on-year but down 9.8 percent from the previous month.

Dramatic changes in the external environment, especially additional tariffs that exceeded expectations, have taken a toll on consumer sentiment, the CPCA said.

China NEV retail sales were lower at the beginning of the month compared to the same period last month, partly due to a public holiday.

Tesla moved up to No. 3 in China's NEV market in March, up from No. 7 in February, as its local deliveries improved.

China's passenger NEV retail sales rose 45.0 percent in March from February, ending two consecutive months of sequential declines.

China's NEV retail penetration was 52.3 percent in March and 47.67 percent year-to-date.

China's wholesale sales of passenger NEVs were estimated at 1.14 million units in February, up 37 percent year-on-year and up 37 percent from February.

China's NEV retail penetration rate was 53.90 percent in March 1-23, and 47.30 percent year to date.

CPCA expects China's March NEV retail sales to rebound to 1 million units, with penetration rising to 54.1 percent.

Cumulative retail sales of passenger NEVs in China so far this year totaled 1.853 million units, up 36 percent year-on-year.