May. 11 at 9:05 PM
China's April NEV wholesale sales rose +9.7% year-on-year to 1.34M units as exports surge +110% to a record high
April BEV wholesale sales stood at 905,000 units, up +10.2% y/y
However, sluggish consumer demand in China remains a major headwind for automakers. Domestic NEV sales in April stood at just 914,000 units, dropping -10.8% y/y, despite a +3.7% m/m increase
In contrast, expansion in overseas markets maintained a rapid pace - NEV exports hit a record 430,000 units in April, surging +110% y/y & +16% m/m
$TSLA retail sales in China stood at 25,956 vehicles in April, down -9.66% y/y & down -53.74% m/m. YTD down -15.05%. Tesla accted for 3.06% of China's overall NEV retail sales of 849,000 units in April, marking its lowest market share since Nov 2025.
In contrast to the sluggish domestic retail performance, Tesla's exports were strong in April - Tesla exported 53,522 vehicles from China in April, the 2nd-highest export figure on record & up +80.04% y/y & up +81.045 m/m. YTD exports up +127.07%
$NIO delivered 29,356 vehicles in April, achieving a +22.83% y/y growth, but down -17.27% from March
$XPEV delivered a total of 31,011 vehicles in April, up slightly by +0.43% y/y but down -16.97% from March
$LI delivered 34,085 vehicles in April, up +0.43% y/y but down -16.97% from March
BYD recorded a wholesale volume of 321,123 NEVs in April, up +6.96% from March. However, this marked the company's 8th consecutive month of y/y sales decline, w/ a drop of -15.51%. April overseas shipments exceeding 134,000 units — up +70.9% & a new record high.
Geely Auto reached a sales volume of 235,164 vehicles in April, up slightly by +0.45% y/ & up +0.92% from March. Record overseas exports of 83,186 units, up +244.70% y/y
