Group 1 - In April, the retail sales of new energy passenger vehicles reached 905,000 units, representing a year-on-year growth of 33.9% but a month-on-month decline of 8.7% [1] - Cumulatively, from January to April, retail sales totaled 3.324 million units, marking a growth of 35.7% [1] - The penetration rate of new energy vehicles in the overall domestic passenger car market reached 51.5% in April, an increase of 7 percentage points compared to the same period last year [1] Group 2 - Among domestic retail sales in April, the penetration rate of new energy vehicles for independent brands was 72.8%, while luxury brands had a penetration rate of 23.5%, and mainstream joint venture brands only reached 6.8% [1] - The retail market share of independent brand new energy vehicles was 73% in April, an increase of 0.4 percentage points year-on-year [1] - The market share of mainstream joint venture brand new energy vehicles was 3.4%, a decrease of 1.5 percentage points year-on-year [1] Group 3 - The new forces in the market, including brands like Xpeng Motors, Leap Motor, and Xiaomi Motors, contributed to a year-on-year growth of 3.6 percentage points in their market share, which reached 19.4% [1] - Tesla's market share was 3.2% in April, reflecting a year-on-year decline of 1.5 percentage points [1]

Core Insights - In March, the retail sales of new energy passenger vehicles in China reached 991,000 units, representing a year-on-year growth of 38.0% and a month-on-month increase of 45.0% [1] - Cumulatively, from January to March, the total retail sales amounted to 2.42 million units, showing a year-on-year growth of 36.4% [1] Industry Performance - The new energy passenger vehicle market in China is experiencing significant growth, with March sales marking a notable increase both year-on-year and month-on-month [1] - The cumulative sales for the first quarter indicate a strong upward trend in the adoption of new energy vehicles [1]