China EV and Plug-In Exports Top Gasoline and Diesel Cars as Demand Weakens
China's auto market remained weak in April as domestic demand stayed soft. Car sales fell 21.5% from a year earlier, while a separate vehicle-sales gauge showed a 2.5% contraction; sales in the first four months were down 4.8%, compared with a 10.8% rise a year earlier. Deliveries of gasoline vehicles plunged after the Iran oil shock, and electric-car demand was not strong enough to offset the slump.
Exports strengthened as automakers expanded overseas to counter subdued demand at home. China exported more electric vehicles and plug-ins than gasoline or diesel cars for the first time in April, with higher fuel costs reinforcing the shift toward new-energy vehicles.
From the sources (7 posts)
@zerohedge*CHINA APRIL NEV SALES FALL 6.8% Y/Y: PCA
@businessChina’s car sales fell 21.5% in April after deliveries of gasoline vehicles plunged due to the Iran oil shock, and electric car demand wasn’t strong enough to counter the slump
@reutersChina's domestic car demand stays weak but exports strengthen
@firstsquawkChina April Vehicle Sales Contract 2.5% Year-on-Year, Deeper Than Prior Month
@firstsquawkChina Vehicle Sales Contract 4.8% in First Four Months vs 10.8% Rise Last Year
@wsjChina exported more electric vehicles and plug-ins than gasoline or diesel cars for the first time in April, as automakers expanded overseas to offset subdued domestic demand and shifts toward new-energy cars to as fuel costs rise. https:/
@firstsquawkCHINA'S DOMESTIC CAR DEMAND STAYS WEAK BUT EXPORTS STRENGTHEN