In April 2022 , the impact of the epidemic on China's automobile industry was simultaneously evident on the supply side and the market side, and the expectation in the previous report that the new energy vehicle market was facing pressure was confirmed. In general, compared with the year-on-year decrease of 46.1% and 47.6% in overall automobile production and sales respectively, it is not easy for new energy vehicles to achieve a year-on-year growth of more than 40% in both production and sales. The market penetration rate reached 25.3% that month, and its contribution to the growth of the automobile industry continued to increase. In mid-to-late April , Tesla, SAIC and other vehicle companies and related supporting supply companies that had stopped production due to the epidemic resumed work and production one after another. With the gradual unblocking of logistics and supply chains, the production and sales of new energy vehicles are expected to achieve a steady recovery. Figure 1 Monthly production and sales of new energy vehicles In April , the growth rate of production and sales showed a significant decline. In April , China's production and sales of new energy vehicles reached 312,000 and 299,000 respectively, up 43.9% and 44.6% year-on-year, respectively, and the growth rate showed a significant decline compared with the previous month. Compared with the overall production and sales of the automobile industry, which fell by 46.1% and 47.6% year-on-year respectively, it is rare for the production and sales of new energy vehicles to achieve a year-on-year growth of more than 40% . Figure 2 Monthly production and sales of pure electric vehicles In April , the production and sales of pure electric vehicles fell by nearly 40 % month-on-month. In April , the production and sales of pure electric vehicles reached 242,000 and 231,000 respectively, up 33% and 34.6% year-on-year, and down 36% and 42% month-on-month, respectively, which was particularly affected by the epidemic. Figure 3 Monthly production and sales of plug-in hybrid vehicles Plug-in hybrid vehicles maintained rapid growth. In April , the production and sales of plug-in hybrid vehicles reached 69,000 and 68,000 respectively, up 1.04 times and 94% year-on-year respectively. Although the growth rate of production and sales slowed down, it still maintained a high level of nearly 100% . Figure 4 New Energy Vehicle Market Penetration Trend Market penetration continues to increase, and industry contribution continues to increase. In April , China's new energy vehicle sales exceeded a quarter of total vehicle sales, with a market penetration rate of 25.3% that month and a cumulative market penetration rate of 16.7% in the past year. New energy vehicles continue to contribute more to the overall automotive industry. Figure 5 Monthly export of new energy vehicles Exports showed negative growth for the first time in April . In April , China exported 11,000 new energy vehicles, a decline for three consecutive months, and a year-on-year drop of 54% . This was the first monthly negative growth since statistics were collected in January 2021 . It is worth noting that in mid-to-late April , vehicle manufacturers such as Tesla and SAIC and related supporting supply companies that had suspended production due to the epidemic resumed work and production one after another. As logistics and supply chains gradually become unblocked, the production and sales of new energy vehicles are expected to steadily recover. |
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