Fidelity Wise Origin Bitcoin Fund amends trust agreement to allow in-kind share transactions
Investing.com -- China’s electric vehicle (EV) market experienced growth in April 2025, with 980,000 plug-in EVs sold, marking a 22% increase year-over-year (YoY). This growth outpaced the overall auto market, which saw an 8% YoY increase. Consequently, EV market penetration rose slightly to 53%.
In contrast, BYD (SZ:002594), a major player in the Chinese EV market, saw a 4% month-on-month (MoM) decline in domestic sales volume. This drop lagged behind the 8% MoM growth of the overall EV market, leading BYD to initiate a discount campaign. Despite the domestic sales drop, BYD’s exports remained robust, hitting a record high of 89,000 units, which helped sustain the company’s overall volume growth.
In terms of trends, June 2025 could witness a slight MoM increase in volume, as dealers rush to meet half-year sales targets.
Turning to other EV manufacturers, Geely continued to expand its market share, thanks to the popularity of its Galaxy brand and new models like the Starshine 8 and Zeekr 007GT. However, Geely’s overseas volumes declined 19% YoY due to ongoing weakness in Russian auto sales.
XPeng (NYSE:XPEV)’s volumes fell by 4% in May, potentially due to decreased demand for the refreshed G6/G9 models. However, the launch of the M03 Max in June could stimulate a rebound in XPeng’s volumes.
Li Auto (NASDAQ:LI) saw its volumes bounce back to the 40,000 level, aided by recent model refreshes featuring LiDAR technology across all price ranges. The company aims to reach monthly sales of 50,000 units with these refreshes.
NIO, on the other hand, experienced a 32% MoM drop in NIO brand volumes to 13,000 units, making it one of the worst-performing brands. However, its ONVO brand saw a 43% MoM increase to 6,300 units, and Firefly sold 3,700 units in its first month, surpassing the forecasted 5,000 units for May and June combined.
Furthermore, the combined volume of Zeekr and Lynk & Co rose by 13% MoM, driven by the successful launch of the Zeekr 007GT, which sold 10,000 units in one month.
Lastly, Xiaomi (OTC:XIACF)’s SU7 model continues to see high demand, with wait times exceeding 40 weeks. As the company produces at maximum capacity, volumes surpassed 28,000 units.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.