On April 29, Volvo Cars announced that the company's Q1 revenue was 72.62 billion Swedish kronor, above expectations of 72.03 billion Swedish kronor. Operating profit was 1.6 billion kronor ($172 million), below 1.9 billion kronor in the same period last year. The company's CEO stated that as locally developed car models such as the XC70 launch new versions covering larger market segments, performance in the Chinese market is expected to begin improving.

[XPeng Plans to Deliver Flying Cars Next Year, Having Received Over 7,000 Orders] According to Reuters, Chinese EV manufacturer XPeng Motors is expected to begin mass production of flying cars in 2027. The company's president, Gu Hongdi, stated that orders for flying cars have exceeded 7,000, primarily from the Chinese market, and the enterprise is simultaneously applying to China's civil aviation authorities for the necessary operational certifications. Gu Hongdi revealed that large-scale deliveries are expected to officially begin next year, provided that official certification approvals are completed first.

[SMM News Flash] According to reports, Volvo Cars officially launched mass production of the all-electric mid-size SUV EX60 at its Torslanda plant in Sweden. The car model is expected to be delivered to global clients starting in early summer this year. As the first BEV model in Volvo's history to have its design, R&D, and production entirely completed in Sweden, the successful mass production of the EX60 not only enriches the brand's BEV product lineup but also marks a critical phase in Volvo's new energy strategy.

Honda Korea said Thursday it will end its automobile sales business in South Korea after 23 years and shift its focus to motorcycles. The company announced at a press conference that it will stop selling cars by the end of this year as part of efforts to optimize its business structure.

Data released by the CPCA showed that from April 1 to 19, national passenger vehicle retail sales reached 627,000 units, down 26% YoY and down 18% MoM. Cumulative retail sales year-to-date reached 4.848 million units, down 19% YoY. From April 1 to 19, national passenger vehicle producer wholesale volume reached 756,000 units, down 19% YoY and down 16% MoM. Cumulative wholesale volume year-to-date reached 6.622 million units, down 8% YoY.

Battery electric vehicle (BEV) registrations jumped 51% in March across 15 major European markets, as renewed conflict in the Middle East brought renewed attention to oil dependence. According to data from New Automotive and E-Mobility Europe, around 224,000 new electric passenger cars were registered during the month, representing 22% of total sales in the monitored markets.