China's April passenger NEV wholesale seen rising 7% to 1.22 million units

• Spurred by high oil prices and enthusiasm from the Beijing Auto Show, multiple major automakers posted stellar April sales.
• BYD maintained its lead among all manufacturers in the NEV wholesale rankings of major automakers with 314,100 units.

China's wholesale sales of new energy vehicles (NEVs) last month extended the month-on-month rebound seen in March, as the industry gradually emerges from its traditional slow season at the start of the year.

Wholesale sales of passenger NEVs are estimated at 1.22 million units for April, up 7% both year-on-year and month-on-month, according to data released Thursday by the China Passenger Car Association (CPCA).

With recent electrification breakthroughs by major automakers and the launch of several blockbuster new models, multiple manufacturers experienced their highest-ever April sales, the CPCA noted.

Persistently high international crude oil prices are spurring consumers to accelerate their shift from traditional internal combustion engine vehicles to NEVs, while the Beijing Auto Show held in April stimulated market sentiment, the CPCA report said.

In March, manufacturers with wholesale sales exceeding 10,000 passenger NEVs accounted for 92% of all NEV wholesale volumes for the month.

These automakers have an estimated sales volume of 1.13 million units for April. Based on last month's structure, China's passenger NEV wholesale sales for April will be around 1.22 million units, the CPCA said.

In China, NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles. Specific figures for these categories are expected to be released later this month.

In the wholesale rankings of major automakers, BYD (HKG: 1211) continued to maintain its leading position among all manufacturers with 314,100 units.

Geely Auto (HKG: 0175) ranked second with 135,591 NEVs sold wholesale, closely followed by Chery (HKG: 9973) with 93,058 NEV sales.

Tesla China's wholesale volume in April came in at 79,478 units, ranking fourth. Leapmotor (HKG: 9863) came in fifth with 71,387 units.