The China Passenger Car Association (CPCA) predicts that China’s retail sales of passenger cars in narrow sense will be 1.57 million units in April, down 1.3% month-on-month, but up 49.8% year-on-year. However, the YoY growth is mainly driven by lower base in the same period last year.
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The CPCA also projects that the retail sales of new energy vehicles will account for 500,000 units, down 8.4% month-on-month. Thus, the penetration rate of NEVs will be 31.8%.
