Weaker China EV sales growth weighs on the whole
Global EV sales were up 19% y/y in April and are up 26% for the YTD. While this remains a robust rate of growth, the growth rate has been declining since it peaked in February. Most of that is due to a slowdown in Chinese EV sales, which were down 6% m/m in April at 905k units. This slowdown in April sales could be the reason why BYD kicked off what looks like the latest round of its China price war in late-May. Its plan to discount EVs for the next three months could be a desperate effort to get...
Topics
BYD
China
Europe
EV sales
Global
ROW
Tesla
US
