In March, production and sales of new energy vehicles (NEVs) in China reached 1.231 million units and 1.252 million units, respectively, as revealed by data from the China Association of Automobile Manufacturers (CAAM).

Production slid 3.6% YoY, while sales hiked 1.2% YoY. NEV sales accounted for 43.2% of total new vehicle sales.
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In March 2026, automobile production and sales in China numbered 2.917 million units and 2.899 million units, representing MoM increases of 74.4% and 60.6%, respectively, highlighting a notable rebound in market activity, data released by the China Association of Automobile Manufacturers (CAAM) showed.

Automobile production and sales posted a sharp MoM recovery. Experts noted that the rapid MoM growth in March was in line with historical seasonal patterns and was directly underpinned by the full implementation of local subsidy policies, the launch of spring auto show promotions, and the rollout of new vehicle models by automakers.

Data also showed that exports presented better-than-expected growth in March 2026. Automobile exports reached 875,000 units, up 30.2% MoM and 72.7% YoY. Among them, new energy vehicle (NEV) exports amounted to 371,000 units, surging 130% YoY. In 1Q26, exports sustained strong growth. Total automobile exports reached 2.226 million units, up 56.7% YoY, of which NEV exports totaled 954,000 units, representing a 120% YoY leap.
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Israel agreed to hold direct talks with Lebanon, signaling de-fusing tensions in the Middle East. Upswing in oil prices slowed, and US bourse started lower but trended higher on Thursday.

The DJIA finished up 275 points, or 0.6%, at 48,185. The Nasdaq closed up 187 points, or 0.8%, at 22,822. The S&P 500 ended up 41 points, or 0.6%, at 6,824.

Major techs were well-shaped. Amazon (AMZN.US) surged 5.6% after the company weighed selling its home-grown chips. Meta (META.US) leaped 2.6% as the company ramped up its investment in CoreWeave (CRWV.US) by USD21 billion. Apple (AAPL.US), Tesla (TSLA.US), and Alphabet (GOOG.US) gained less than 1%.

Chip stocks advanced. Intel (INTC.US) shot up 4.7%. Micron (MU.US) rallied 3.6%. NVIDIA (NVDA.US) and Broadcom (AVGO.US) added about 1%.
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Tesla (TSLA.US) planned to develop a smaller and cheaper electric SUV, Reuters quoted sources as saying.

Tesla has contacted suppliers in recent weeks to discuss detailed plans for the new SUV, covering manufacturing processes and specifications for various components, according to insiders.

The sources added the model will be produced in China, with plans to expand production to the US and Europe.
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New energy passenger vehicle (NEV-PV) exports numbered 349,000 units in March, up 139.9% YoY and 29.6% MoM, data released by the China Passenger Car Association (CPCA) showed. NEV-PVs accounted for 50.2% of total PV exports, representing an increase of 13.7 ppts compared with the same period last year.

In terms of NEV exports by manufacturer in March, leading companies included BYD COMPANY (01211.HK), GEELY AUTO (00175.HK) and CHERY AUTO (09973.HK), with export volumes of 116,882 units, 52,186 units and 40,837 units, respectively, ranking as the top three exporters. Tesla China ranked fourth with only 29,563 units.
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China's passenger vehicle (PV) market reported retail sales of 1.648 million units in March, down 15.0% YoY but up 59.4% MoM, according to data released by the China Passenger Car Association (CPCA).

Among them, a total of 848,000 new energy vehicles (NEVs) were retailed that month, down 14.4% YoY but up 82.6% MoM. In 1Q26, retail sales of NEVs dropped by 21.1% YoY to 1.908 million units.

Looking ahead to China's PV market in April, as NEVs continue to record high growth, competition in the mid-to-high-end segment is intensifying, while the economy electric vehicle segment is shrinking sharply. The CPCA warned that structural growth in the auto market may struggle to offset overall volume growth pressure.
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In the first six days of April, China's passenger vehicle market retailed a total of 86,000 new energy vehicles (NEVs), down 24% YoY but up 3% MoM, according to data released by the China Passenger Car Association (CPCA).

Meanwhile, the NEV wholesale volume from manufacturers amounted to 73,000 units, down 39% YoY or 14% MoM.
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The five-week US-Iran conflict has briefly de-fused after US President Donald Trump announced a two-week pause on attacks against Iran. Oil prices plunged 16%, sparking a sharp uptick in US bourse Wednesday.

The DJIA mushroomed 1,325 points, or 2.9%, to close at 47,909, marking its best single-day performance since April 2025. The S&P 500 climbed 165 points, or 2.5%, to 6,782. The Nasdaq rallied 617 points, or 2.8%, to 22,634.

Semiconductor manufacturing stocks advanced, with the VanEck Semiconductor ETF (SMH.US) jumping up more than 5%. Intel (INTC.US) soared 11%, making it the best-performing Nasdaq 100 constituent of the day. Broadcom (AVGO.US) shot up 5%, whereas Micron (MU.US) spiked 7.7%.

Airlines skyrocketed on the back of ebbing oil prices and the pause in hostilities. Delta Air Lines (DAL.US) delivered 1Q earnings beat, though its full-day gain narrowed to 4%. American Airlines (AAL.US) also pared back earlier gains but still ascended 5%. United Airlines (UAL.US) advanced 8%.

Meta (META.US) launched its first AI model, Muse Spark, with plans to introduce a subscription model in the future. Its shares swelled nearly 7%, rendering it the strongest performer among the "Magnificent Seven". Alphabet (GOOG.US) and Amazon (AMZN.US) each mounted 4%. Nvidia (NVDA.US) rose more than 2%. Tesla (TSLA.US) bucked the market uptrend, down 1%.

Both New York oil futures and Brent oil futures busted below USD100, dragging energy stocks lower. Exxon Mobil (XOM.US) declined 5%, and Chevron (CVX.US) sagged more than 4%.
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Meta (META.US), the parent company of Facebook, launched a new AI model, Muse Spark, on Wednesday, with an aim to break through a market dominated by OpenAI, Anthropic and Google. Following the news, Meta's ADS escalated by more than 7%.

Muse Spark was developed by Meta Superintelligence Labs and is the first model in the Muse series. It focuses on high efficiency and multimodal capabilities, enabling it to handle complex issues such as science, mathematics and healthcare.

Muse Spark will support the Meta AI chatbot app and website, and will be gradually integrated into Facebook, Instagram, WhatsApp, Messenger and Ray-Ban smart glasses. It will also be used for the Vibes AI video feature. The new system includes a shopping mode to assist users in purchasing clothes and decorate rooms.

Muse Spark will adopt a proprietary model, but future versions may consider open-sourcing, Meta said. The Company is also testing new revenue models and is considering implementing a subscription charging system in the future. At the current stage, the model is available only to certain partners for trial use.
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Dieter Lorenz, former Senior Manager of Delivery Operations for Central Europe at Tesla, said in a social media statement that he took up the role of Head of Europe Delivery and Logistics at Xiaomi Auto earlier this month, after six years with Tesla, embracing new challenges and opportunities.
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