CPCA data: April passenger car sales 1.368 million, down 19.4% YoY and down 7.0%
MoM. NEV sales about 817,000 in April, down 6.2% YoY but up 2.4% MoM; NEVs
accounted for 59.7% of passenger car sales, up 8.4ppt YoY. Battery-electric
(BEV) sales ~571,000, up 3.9% YoY and up 2.4% MoM; plug-in hybrid (PHEV) sales
~246,000, down 23.5% YoY and up 2.4% MoM. 2026 cumulative NEV sales 2.61
million, down 18.4% YoY.