China Passenger Car Association: In April 2024, the penetration rate of new energy vehicles will reach 44%, a record high, and domestic brands have reached 66.8%

According to recent news, according to data from the China Passenger Car Association, the penetration rate of new energy vehicles in the domestic retail market reached 43.7% in April this year , an increase of 12 percentage points from 32% in the same period last year.

Among various brands, the penetration rate of new energy vehicles varies. The penetration rate of new energy vehicles of domestic brands is the highest, reaching 66.8%; the penetration rate of new energy vehicles of luxury brands is 22.6%; while the penetration rate of new energy vehicles of mainstream joint venture brands is relatively low, at only 7.5%.

In April, the retail volume of traditional cars decreased by 22% year-on-year, while the retail volume of new energy vehicles increased by 28% year-on-year, which is the main factor for the increase in the market penetration of new energy vehicles.

Cui Dongshu, secretary-general of the China Passenger Car Association, pointed out that the country has introduced a number of policy guidelines for the automobile industry with the aim of further stabilizing and expanding the automobile consumer market.

With the introduction and gradual implementation of the trade-in and scrap renewal policies, the Ministry of Commerce organized a nationwide car trade-in promotion campaign, and automobile manufacturing and sales companies also launched corresponding supporting promotion activities.

Many regions support the trade-in of eligible cars through energy-saving and emission-reduction subsidy funds arranged by the central government. These policies, together with corporate promotional activities, have jointly promoted the healthy development of the car market during the May Day holiday.

Zikuai Technology