Preliminary data from the China Passenger Car Association (CPCA) shows that in April 2026, wholesale sales of new energy passenger vehicles by manufacturers nationwide reached 1.22 million units, representing a 7% increase compared to the same period last year and a 7% rise from the previous month, indicating a dual growth trend and initial signs of industry recovery. The simultaneous year-on-year and month-on-month growth in April's NEV sales can be attributed to several factors: first, high fuel prices have encouraged a shift from traditional fuel vehicles to new energy vehicles both domestically and internationally, while optimized production supply chains contributed to a 7% month-on-month sales increase, setting a new record. Second, the popularity of the Beijing Auto Show and the introduction of new and upgraded models have effectively met market demand, stimulating growth. Particularly ahead of the May Day holiday, electric vehicle travel became a new trend, leading to strong sales towards the end of April. Third, robust overseas NEV sales amid high oil prices, coupled with the leading product generations and significant cost-performance advantages of domestic brands, have driven sustained export growth. Recent breakthroughs in electrification by major automakers and the launch of several popular new models have led many leading manufacturers to achieve record-high sales in April. Notable performers include Geely Auto, Chery Auto, Tesla China, Leapmotor, Chongqing Changan Automobile Company Limited, SAIC Motor Passenger Vehicle, Dongfeng Motor, Li Auto, Seres, Xiaomi Auto, NIO, Arcfox, GAC Toyota, SAIC-GM, IM Motors, Dongfeng Nissan, and GAC Trumpchi, all of which saw their NEV wholesale sales hit historic highs for April. In March 2026, manufacturers with NEV wholesale sales exceeding 10,000 units accounted for 92% of the total NEV passenger vehicle sales that month. Based on preliminary April data, these manufacturers sold 1.13 million units in April. As most manufacturers have largely locked in their sales figures, and some that pushed for quarterly targets at the end of March performed well in April, the estimated national NEV wholesale sales for April stand at 1.22 million units, calculated using the previous month's structural share combined with current data. In summary, according to preliminary monthly CPCA data: national NEV wholesale sales by passenger vehicle manufacturers are estimated at 1.22 million units in April 2026, up 7% year-on-year and 7% month-on-month.