China's new energy passenger vehicle (NEV-PV) market retailed 905,000 vehicles in April, up 33.9% YoY but down 8.7% MoM, according to data released by the China Passenger Car Association (CPCA).

The domestic retail penetration rate for new energy vehicles (NEV) in April reached 51.5%, marking an increase of 7 ppts compared to the same period last year. In 1-4M25, the NEV market retailed 3.324 million vehicles, up 35.7%.

Looking ahead to May, the CPCA noted that the base figure for this May will be relatively high with the launch of the 2024 scrappage and renewal policy and the gradual recovery of last May's market. Accordingly, car market growth in May is expected to remain relatively stable.
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AAStocks Financial News
Web Site: www.aastocks.com

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