China exported more electric vehicles and plug-in vehicles than gasoline or diesel cars for the first time in April, as automakers expanded aggressively overseas to offset subdued demand in the domestic market.
China exported 769,000 automobiles in April, with new-energy vehicles, a term that includes EVs and plug-in hybrids, accounting for 52.7% of total exports, the China Passenger Car Association said Monday.
Exports of new-energy vehicles more-than doubled to 406,000 units in April, the data showed.
The surging exports came as the domestic market continued to face pressure from weak consumption sentiment. Retail sales of passenger cars in April fell 21.5% from a year earlier to 1.38 million units, the CPCA said. Sales declined 16% compared with March.
Rising oil prices also weighed on demand for traditional gasoline-powered vehicles, the agency added, as consumers increasingly shifted toward new-energy cars to avoid higher fuel costs.
Full story China Exports More EVs Than Traditional Cars for First Time in April | Morningstar
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