“The whole industry is cratering”
LOL yeah sure!
Milestone penetration rate records being hit:
A quick market analysis between April 1 and 14 shows that EV sales account for more than 50% of all car sales in China. This is a huge milestone that was not coming before 2028, at least according to some analysts.
https://m.arenaev.com/chinese_ev_car_sales_surpass_50_for_the_first_time_ever-amp-3445.php
Summary for April 2024:
Plugin vehicles are all the rage in the Chinese auto market, with plugins scoring 703,000 sales (in a 1.6-million-unit overall market). That’s up 27% year over year (YoY).
—
NEV sales in China within the context of total car sales.
Note:
1/ the recurring annual volume patterns
2/ the increasing penetration of NEVs
Puts some perspective around the “EV sales are down” narrative:
…feel free to post global data.
good luck
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