By Li Panpan

(JW Insights) May 12 -- China’s production and sales of new energy vehicles (NEVs) hit 640,000 and 636,000 units in April, both increasing 110% year-on-year, with a market share of 29.5%, according to data released by the China Association of Automobile Manufacturers (CAAM) on May 11.

China’s total automobile production and sales in April reached 2.133 million and 2.159 million units, showing a decrease of 17.5% and 11.9% month-on-month. But they indicate an increase of 76.8% and 82.7% year-on-year, said CAAM.

In the first four months of 2023, the production and sales of NEVs in China were 2.291 million and 2.222 million, both up 42.8% year-on-year, with a market share of 27%; the figures for passenger cars were 7.052 million and 6.949 million, respectively, up 8.6% and 6.8% year-on-year.

There were still potential buyers in April who took a wait-and-see attitude as automakers and dealers slashed prices, said CAAM in the report.