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After the December end-of-incentive sales rush (NEVs are no longer exempt from purchase tax this year), and the following sales slump, high gas prices and a never ending wave of new models has allowed April to reach record EV market share, with plugins surpassing the 60% barrier for the first time!
But while in the past it was achieved thanks to record EV sales, this time, this is thanks to a significant ICE (internal combustion engine) crash. The overall market dropped 22% year over year (YoY), to around 1.4 million sales. ICE-powered models were at the epicenter of this disruption, crashing 37% YoY, but plugin hybrids (PHEVs) were also down 25% in April, and even extended-range electric vehicles (EREVs) dropped, albeit a more moderate 11% YoY.
The only thing that grew in April? Pure electrics. Despite having fewer incentives, BEVs were up 2% YoY, to 579,000 sales. So, this meant that BEVs scored a record 42% BEV share in China!
Adding PHEVs (13% share) and EREVs (6%) to the tally meant that in April a record 61% of all cars sold in China had a plug!
