<div id="readability-page-1">Surging oil prices are prompting Chinese buyers to shift to battery electric vehicles (BEVs), which dominated April sales rankings by taking nine out of the top 10 spots – a new high in China’s electrification drive. Only one petrol car model was among the bestsellers across all power trains, with Geely’s Binyue in eighth place on sales of 14,923 units, according to data from automotive platform Dongchedi. The rest were BEVs, which produce zero tailpipe emissions. It marked a sharp retreat in demand for petrol vehicles, which still held five of the top 10 places in March, according to Dongchedi. Geely’s Xingyuan – a battery electric subcompact hatchback priced as low as 57,800 yuan (US$8,520) – regained the crown in April with 34,727 vehicles sold, up 12 per cent from a month earlier. Xiaomi’s new SU7, priced between nearly 220,000 yuan and 303,900 yuan, vaulted 61 places to second with 26,826 units sold, after deliveries began in late March.  The rise of Geely and Xiaomi pushed Tesla’s Model Y – priced from 263,500 yuan – from first in March to third last month, with sales plunging 42 per cent month on month to 22,990 units. The march of BEVs, especially Chinese brands, was fuelled by surging oil prices, which may cost every petrol car owner at least 200 yuan more per month, said Yale Zhang, managing director at consultancy Automotive Foresight in Shanghai. “The additional fuel costs resulted in a psychological shock,” Zhang said. That gave BEVs headroom, with some all-electric models priced between 70,000 yuan and 100,000 yuan offering strong value amid fierce competition in China, Zhang added. Zhang expected BEVs to gain further traction if oil prices remained high, as owners could avoid worries about energy price volatility. Electric cars – including BEVs, hybrid electric vehicles (EVs) and plug-in hybrid EVs – accounted for 61.4 per cent of new car sales in April, an all-time high in the world’s largest car and EV market, according to the China Passenger Car Association (CPCA). “The pace of electrification is exceeding expectations,” the industry body said in a report on Monday. With international carmakers lagging, the CPCA said the “domestic-brand-dominated” landscape is becoming entrenched, with the market share climbing to 80 per cent in April from 73.5 per cent in March. Despite domestic controls, China’s petrol prices jumped 19.3 per cent in April, as conflicts in the Middle East persisted. Brent crude oil – a key global benchmark – is projected to average US$95 per barrel this year, 35.7 per cent above pre-conflict levels, the US Energy Information Administration estimated in March. Despite weaker domestic demand after subsidy cuts, China’s car market had been reshaped by high oil prices and was expected to see electrification accelerate in May, the CPCA said.</div>

吉利汽车

GELYY

GELHY

00175

515030

516380

07766

CARZ

<p>Surging oil prices are driving Chinese consumers towards battery electric vehicles (BEVs), which claimed nine of the top ten sales spots in April. Geely's Xingyuan led with 34,727 units sold, while Tesla's Model Y dropped to third place with a 42% sales decline. The shift reflects a significant decrease in petrol vehicle demand, with BEVs now accounting for 61.4% of new car sales. The China Passenger Car Association noted a rise in domestic brands' market share to 80%, as high oil prices continue to reshape the automotive landscape in China.</p>

- Surging oil prices are driving Chinese consumers toward battery electric vehicles (BEVs), which dominated April sales, securing nine out of the top 10 sales spots.  
- Geely’s Xingyuan led with 34,727 units sold, and overall, electric vehicles represented 61.4% of new car sales, highlighting a significant shift in market dynamics.  
- The rise of domestic brands amid high fuel costs is reshaping China's auto landscape, with expectations for further electrification growth if oil prices remain elevated.

SCMP

Geely Auto

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

GEELY AUTO

Hua Xia CSI New Energy Vehicles ETF

Hwabao WP CSI Intelligent Electric Vehicle ETF

XL2CSOPTSLA

First Trust S-Network Future Vehicles & Tech ETF

XIAOMI-W

Tesla

GEELY AUTO-R

Xiaomi Corporation

XIAOMI-WR

Xiaomi HK SDR 2to1

Oil shock fuels BEVs to 9 of top 10 in sales, with China brands overtaking Tesla