China gas car sales plunge 37% in April
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- ICE vehicle sales in China fell 37% year-over-year in April, with overall auto sales down 21.5% YoY and ICE sales dropping 33% from March to April, according to Chinese Passenger Car Association data cited in the article.
- China's NEV market share reached 61.4% in April, up from 47.3% in March — the first time the share has crossed 60% — while BEV-only sales rose 2.4% YoY and PHEV sales fell 25.2% YoY.
- April's top-10 list was led by the Geely EX2 (34,727 units), Xiaomi SU7 (26,826), Tesla Model Y (22,990), and Li Auto i6 (21,024); only the Geely Coolray was ICE-only, compared to seven ICE vehicles in January's top 10.
- Chinese-brand sales were 80.1% NEVs, while joint-venture (foreign-brand) sales were just 14.1% NEVs, underscoring how decisively the domestic-versus-foreign split aligns with the EV transition.
- The article attributes the timing of the collapse partly to a global oil price spike that has hit Asia harder due to Strait of Hormuz tanker dependence, with China more insulated by renewable energy investment, high EV penetration, and large domestic oil stockpiles.
- Toyota posted a 21.5% decline in Q1 operating income, which the article links partly to underinvestment in BEVs leaving it uncompetitive in China.
- Chinese EV exports rose 111.8% year-over-year, with NEVs now a majority of Chinese auto exports and China having become the world's largest auto exporter.
Why it matters: With Chinese-brand sales at 80.1% NEVs versus just 14.1% for foreign joint ventures, legacy automakers face a market that has decisively shifted away from their ICE products — Toyota's 21.5% Q1 operating income drop shows the cost of delay. Chinese NEV exports up 111.8% YoY mean the same disruption is now heading to the rest of the world.
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