Hu Xiu·2025-05-20 10:21Core Insights - The overall performance of the domestic passenger car market in April showed a total sales volume of 1.69 million units, representing a year-on-year growth of 8.7% [3][7] - The penetration rate of new energy vehicles (NEVs) reached 51.57% in April, slightly up from 51.50% in March, indicating a stable but not significantly advancing market for NEVs [4][5] Sales Performance - In April, the sales of fuel vehicles dropped by 6.5% year-on-year, while pure electric vehicles saw a growth of 32.72% and plug-in hybrids increased by 15.41% [7][8] - Cumulatively from January to April, the penetration rate of NEVs was 47.6%, still below that of fuel vehicles [6] Competitive Landscape - BYD's sales in April totaled 261,000 units, a year-on-year increase of only 4.92%, which is below the market average growth [10] - Geely's sales reached 162,000 units in April, marking a significant year-on-year growth of 46.6%, narrowing the gap with BYD [10][11] - Changan's overall sales in April were 94,000 units, with a year-on-year increase of 6.29%, but cumulative sales from January to April declined by 7.7% [11] Joint Venture Brands - Volkswagen's total sales in April were 141,000 units, a year-on-year increase of 4.51%, but still losing market share [12] - Toyota's sales exceeded 120,000 units in April, with a year-on-year growth of 16%, making it one of the few joint venture brands performing well [14] Luxury Brands - Lexus and Land Rover experienced sales declines exceeding 40% in April, while other luxury brands like Mercedes, BMW, and Audi saw declines around 20% [17] - The overall scale of traditional luxury brands is rapidly shrinking, with domestic new energy brands beginning to catch up [17] New Forces - Tesla's sales fell below 30,000 units in April, a year-on-year decline of 10.4%, resulting in a drop from the top three in the new energy vehicle segment [19][20] - Xiaomi's SU7 model achieved sales of 28,500 units in April, closely competing with Tesla's Model 3 and Model Y [21] - NIO's total sales reached 24,900 units in April, a year-on-year increase of 78%, indicating a significant recovery [25]