Gasgoo Munich- Gasgoo has learned that BASF and Transfar Group officially signed a strategic partnership agreement in Shanghai on April 15.

Image Source: BASF

The companies will explore and launch cooperative projects across key sectors, including raw material procurement, R&D, crop protection, and materials. This agreement marks a move by two industry leaders to pool their strengths and drive collaborative innovation and sustainable development in the chemical sector and related applications.

Beyond bolstering supply chain resilience and efficiency, the partnership will focus on co-developing cutting-edge technologies. Priority areas include crop protection solutions, high-performance coatings, and materials for the new energy industry. Looking ahead, BASF and Transfar Group plan to establish a regular high-level communication mechanism and a working exchange platform to ensure efficient implementation of these initiatives.

Gasgoo Munich- Following the Chinese New Year, China's auto industry saw a pickup in production and business activity, with overall market momentum improving in March. While both output and sales rebounded sharply from February, they remained slightly lower than a year earlier, though conditions improved compared with the first two months of the year.

Domestic demand continued to lag, weighed down by policy transitions, earlier consumption pull-forward, and a high comparison base, resulting in double-digit year-on-year declines. In contrast, exports maintained strong growth and resilience despite global uncertainties, highlighting the rising competitiveness of Chinese automakers.

Data from the China Association of Automobile Manufacturers (CAAM) show that both production and sales declined modestly in the first quarter, but the pace of contraction narrowed compared with the January–February period, signaling a gradual recovery. Passenger vehicle declines eased, commercial vehicle sales continued to grow, and demand for new energy vehicles remained robust, while exports expanded rapidly.

Looking ahead to the second quarter, policymakers expect stimulus measures—such as programs promoting equipment upgrades and consumer trade-ins—to continue supporting demand. The upcoming Beijing auto show is also set to trigger a wave of new model launches, which could further boost market sentiment.

However, the industry still faces considerable headwinds. A volatile external environment, rising geopolitical risks, and persistently high raw material and component costs are increasing operational pressures. At the same time, domestic demand remains relatively weak. Authorities and industry stakeholders are expected to focus on managing external risks, stimulating consumption, and curbing excessive price competition to ensure stable market development.

Overall vehicle production and sales

In March, China produced 2.917 million vehicles and sold 2.899 million units, representing month-on-month increases of 74.4% and 60.6%, respectively. On a year-on-year basis, production fell 3% and sales declined 0.6%.

For the first quarter, total vehicle production reached 7.039 million units and sales came in at 7.048 million units, down 6.9% and 5.6% year-on-year, respectively.

Domestic vehicle market performance

Domestic vehicle sales totaled 2.024 million units in March, rising 78.6% from February but falling 16% year-on-year. Within this, traditional internal combustion engine vehicles accounted for 1.142 million units, up 75.8% month-on-month but down 14.1% from a year earlier.

Over the first three months, domestic sales reached 4.823 million units, representing a 20.3% decline year-on-year. Sales of conventional fuel vehicles totaled 2.817 million units, down 17.6%.

Export performance

Vehicle exports reached 875,000 units in March, increasing 30.2% from February and surging 72.7% year-on-year.

In the first quarter, exports totaled 2.226 million units, up 56.7% compared with the same period last year.

Breaking this down, new energy vehicle (NEV) exports hit 371,000 units in March, up 31.6% month-on-month and 1.3 times higher year-on-year. Exports of traditional oil-fueled vehicles reached 505,000 units, rising 29.2% month-on-month and 44.6% year-on-year.

From January to March, NEV exports totaled 954,000 units, up 1.2 times year-on-year, while oil-fueled vehicle exports reached 1.271 million units, up 29.9%.

Passenger vehicle segment

Passenger vehicle production stood at 2.446 million units in March, with sales at 2.412 million units. This represents month-on-month surges of 74.8% and 57.1%, respectively, while declining 5.0% and 2.3% year-on-year.

For the first quarter, production reached 5.909 million units and sales totaled 5.934 million units, down 9.3% and 7.6%, respectively.

Chinese brand performance and market structure

Chinese-brand passenger vehicles continued to dominate the market. In March, sales reached 1.632 million units, up 0.2% year-on-year, accounting for 67.7% of total passenger vehicle sales—an increase of 1.7 percentage points from a year earlier.

In the first quarter, China's self-owned brands sold 4.039 million units, down 7.6% year-on-year, with a market share of 68.1%, unchanged from the same period last year.

Within the traditional oil-fuel passenger vehicle segment, sales across A- to C-class vehicles declined to varying degrees in the first quarter, with demand still concentrated in the A-class segment, which recorded 1.765 million units, down 6% year-on-year.

In the NEV segment, sales of A00- and A-segment models declined, with the entry-level A00 segment most affected by policy changes. Demand shifted toward the B-segment segment, which recorded 849,000 units in cumulative sales, up 8.1% year-on-year.

From a pricing perspective, both conventional and new energy passenger vehicles remained concentrated in the RMB 100,000–150,000 range.

Sales of traditional oil-fueled vehicles in this band reached 1.014 million units in the first quarter, down 6.1% year-on-year.

In contrast, new energy passenger vehicle sales in the same price range totaled 617,000 units, increasing 6.8% from a year earlier, reflecting continued consumer migration toward electrified models in the mass-market segment.

Domestic passenger vehicle sales performance

In March, China's domestic passenger vehicle sales reached 1.663 million units, surging 75.1% from February but falling 19.2% year-on-year.

Sales of conventional oil-fueled passenger vehicles totaled 867,000 units, a decrease of 182,000 units from the same period last year, representing a 17.3% year-on-year decline despite a 71.5% month-on-month rebound.

For the first quarter, domestic passenger vehicle sales stood at 4.013 million units, down 23.4% year-on-year. Within this, traditional oil-fueled vehicle sales fell to 2.192 million units, marking a reduction of 565,000 units, or a 20.5% decline compared with a year earlier.

Passenger vehicle exports

In contrast, passenger vehicle exports continued to accelerate sharply. March exports reached 748,000 units, increasing 27.8% month-on-month and surging 82.4% year-on-year.

Over the January–March period, passenger vehicle exports totaled 1.921 million units, up 63% from the previous year.

Overall commercial vehicle production and sales

The commercial vehicle segment showed relative resilience. In March, production reached 471,000 units and sales totaled 487,000 units, rising 72.5% and 80.7% month-on-month, respectively, while growing 9.1% and 8.9% year-on-year.

Natural gas-powered commercial vehicles stood out, with March sales hitting 35,000 units—up 1.7 times from February and 21.1% higher than a year earlier.

In the first quarter, commercial vehicle production and sales reached 1.13 million and 1.114 million units, representing year-on-year increases of 7.9% and 6.0%, respectively. Natural gas vehicle sales totaled 71,000 units, up 9.2%.

Domestic commercial vehicle sales performance

Domestic demand for commercial vehicles improved modestly. Sales reached 360,000 units in March, nearly doubling from the previous month with a 97.1% increase, and rising 2.7% year-on-year.

For the first quarter, domestic commercial vehicle sales totaled 810,000 units, remaining broadly flat with marginal growth of 0.03%.

Commercial vehicle exports

Commercial vehicle exports also maintained solid growth momentum. March exports reached 127,000 units, up 46% from February and 31.4% year-on-year.

Cumulative exports for the first quarter stood at 305,000 units, marking a 26% increase compared with the same period last year.

New energy vehicle production and sales

China's NEV sector showed mixed performance in March. Production reached 1.231 million units, down 3.6% year-on-year, while sales rose slightly by 1.2% to 1.252 million units. NEVs accounted for 43.2% of total new vehicle sales during the month.

In the first quarter, NEV production and sales totaled 2.965 million and 2.96 million units, down 6.8% and 3.7% year-on-year, respectively. NEVs represented 42% of all new vehicle sales.

Domestic new energy vehicle sales performance

Despite strong monthly recovery, domestic NEV sales remained under pressure on a yearly basis. March domestic NEV sales reached 882,000 units, up 82.4% month-on-month but down 18.3% year-on-year.

Passenger NEVs accounted for 796,000 units, rising 79.1% from February but declining 21.1% annually, while NEV commercial vehicles bucked the trend, increasing 21.7% year-on-year to 85,000 units after a 1.2-fold month-on-month jump.

For the first quarter, domestic NEV sales totaled 2.006 million units, down 23.8%. Passenger NEVs fell 26.7% to 1.822 million units, while NEV commercial vehicles rose 23.6% to 184,000 units.

NEVs accounted for 43.6% of domestic vehicle sales in March. Within this, NEV penetration reached 47.9% in the passenger vehicle segment and 23.6% in commercial vehicles.

For the January–March period, NEVs represented 41.6% of domestic sales overall, with penetration rates of 45.4% in passenger vehicles and 22.7% in commercial vehicles.

New energy vehicle exports

NEV exports continued to post strong growth. In March, NEV exports reached 371,000 units, up 31.6% month-on-month and 1.3 times higher year-on-year.

Passenger NEVs dominated, with 363,000 units exported, rising 1.4 times year-on-year, while NEV commercial vehicle exports stood at 7,000 units, declining 19.6% year-on-year despite a 42.9% month-on-month increase.

In the first quarter, total NEV exports reached 954,000 units, up 1.2 times year-on-year. Passenger NEVs accounted for 935,000 units, while commercial NEV exports fell 16.2% over a year earlier to 19,000 units.

Breaking down NEV exports, battery electric vehicles (BEVs) accounted for 217,000 units in March, up 24.6% month-on-month and 1.1 times year-on-year. Plug-in hybrid electric vehicles (PHEVs) performed even more strongly, with exports of 153,000 units, rising 43.1% month-on-month and 1.8 times from a year earlier.

From January to March, BEV exports reached 594,000 units, up 1.1 times year-on-year, while PHEV exports totaled 360,000 units, increasing 1.4 times from the year-ago period.

Sales performance of key automobile groups

Market concentration among leading automakers remained high. The top 15 automobile groups recorded combined sales of 6.582 million units in the first quarter, down 6% year-on-year and accounting for 93.4% of total vehicle sales, a slight decline of 0.4 percentage points from the previous year.

In the NEV segment, the top 15 groups sold a combined 2.856 million units, down 4.2% year-on-year, representing 96.5% of total NEV sales, 0.5 percentage points lower than a year earlier.

Performance of key exporters

Among leading exporters, Chery continued to dominate outbound shipments. In March, the company exported 148,000 vehicles, up 71.3% year-on-year and accounting for 16.9% of total exports. Tesla recorded the fastest growth rate among the top exporters, with shipments reaching 30,000 units, surging 5.3 times from a year earlier.

For the first quarter, Chery exported 391,000 vehicles, an increase of 54.4%, representing 17.6% of total exports. Tesla again posted the strongest growth, with exports totaling 101,000 units, up 1.6 times year-on-year.

Gasgoo Munich- According to Gasgoo Global Automotive Industry Big Data, Sichuan’s auto industry cluster is defined by a "polarized core with multi-point support" structure. Anchored by Chengdu, the network radiates to neighboring cities like Mianyang and Deyang, forming a cohesive ecosystem spanning vehicle manufacturing, components, and technical services. As the division of labor sharpens across the supply chain—driven by both OEM production and specialized niches—the region is building strong collaborative synergy.

As the provincial hub, Chengdu (home to over 2,000 suppliers) holds a dominant lead in both supplier volume and industrial density, boasting a complete ecosystem that covers vehicle production, intelligent connectivity, and automotive electronics. On the OEM front, FAW-Volkswagen, Geely, Dongfeng Peugeot-Citroën, and FAW Toyota have established a solid production base. Meanwhile, the supply chain has attracted a host of electronics, e-drive, and intelligent-tech firms, including Black Sesame and Desay SV. Overall, Chengdu is evolving from a pure "manufacturing center" into a "dual-core" hub for technology and production, making it the most competitive growth engine in Sichuan.

Leveraging its foundation in electronic information, Mianyang (201–500 suppliers) has carved out a niche in automotive intelligence and electronics. Its supplier base ranks near the top in the province and is dominated by technology firms, creating a distinct "software-hardware integration" profile. Key players include Huaxiang Electronics, Fuling Precision, and BOE. Furthermore, Mianyang is steadily building capabilities in sensors and communications, providing the underlying support needed for autonomous driving and internet-of-vehicles development.

Known for its strength in traditional equipment manufacturing, Deyang (131–200 suppliers) serves as a key support hub for components and upstream production. Its supplier scale is in the mid-to-upper tier, with an industrial structure weighted toward manufacturing and processing. Representative firms like Yingjie Electric and Sunwoda hold sway in power systems and battery-related sectors, laying the groundwork for new-energy vehicles. Additionally, Deyang’s deep expertise in machining and materials enhances the stability and resilience of the regional supply chain.

In terms of production capacity, public data indicates Sichuan’s planned vehicle output for 2026 will exceed 1.66 million units. FAW-Volkswagen leads the pack with roughly 600,000 units, establishing the region’s production baseline. Geely and Dongfeng Peugeot-Citroën form a second tier with approximately 420,000 and 240,000 units, respectively. Meanwhile, Geely Volvo, Kaiyi, and FAW Toyota have planned capacities clustered between 100,000 and 150,000 units, primarily serving to supplement the structure and cover niche markets.

Overall, Sichuan’s auto sector has shifted from a single-point driver to a multi-pole collaborative landscape. It has developed a system with clear division of labor and complementary advantages in key areas like vehicle manufacturing, high-end technology, intelligent applications, and new energy. This collaborative model has significantly boosted the region’s comprehensive competitiveness and resilience within the national automotive map. However, further improvements are needed in resource allocation efficiency and deep supply chain integration. Promoting the efficient flow of resources and collaborative innovation will be essential to sustain risk resistance and elevate global competitiveness.

Gasgoo Munich- Gasgoo has learned that the draft for approval of a mandatory national standard governing combined driving assistance systems in intelligent connected vehicles has been finalized. Proposed and managed by the Ministry of Industry and Information Technology (MIIT), the document—titled "Safety Requirements for Combined Driving Assistance Systems of Intelligent Connected Vehicles"—was completed on April 15. It applies to M and N category vehicles equipped with these systems, establishing a unified framework for safety design, testing, and type approval.

Image Source: Ministry of Industry and Information Technology of the People's Republic of China

The standard categorizes combined driving assistance systems into three tiers—basic single-lane, basic multi-lane, and pilot—each with distinct safety mandates. On the functional side, it defines technical specifications for capabilities like lane cruising, lane changing, cross-lane obstacle avoidance, and navigating intersections and roundabouts. It also mandates protocols for risk mitigation interventions and the selection of target stopping zones.

Driver state monitoring stands at the core of this regulation. The rule requires continuous detection of hands-off and eyes-off status once the system is active, establishing graded warning logic and time thresholds for alerts—ranging from prompts to grip the wheel or return gaze to immediate takeover warnings. Furthermore, it standardizes response protocols for scenarios where the vehicle exceeds its operational design domain or suffers a system failure.

For verification, the standard adopts a hybrid approach combining proving ground, real-road, and simulation testing, while setting specific criteria for assessing the credibility of simulation results. An appendix also outlines specifications for the data recording system, detailing data types, elements, storage mechanisms, and retrieval methods.

The rollout will be phased in. Models applying for new type approval must meet all requirements 13 months after the standard takes effect, while models already approved have 25 months to fully comply.

Gasgoo Munich- From technical teasers to final delivery, a new car today often navigates five, six, or even more launch events.

The trend hasn't slowed in 2026; it has accelerated. Incomplete statistics show that March 2026 alone saw over 80 domestic events tied to new vehicles, unveiling roughly 60 models—a pace approaching daily updates.

Amid this relentless launch cadence, the number of events per model is swelling. Technical breakdowns, pre-sale teasers, official launches, delivery ceremonies, and livestreamed teardowns are piling up. Hosting five or six events for a single car has become industry standard.

These figures raise a critical question: Does a new car really need so many launches? Is this merely marketing bloat, or the inevitable outcome of a shifting competitive landscape?

From "One-and-Done" to "Serialized Events"

Veteran industry observers note that in the internal combustion engine era, the path from reveal to market was relatively simple and short. A typical run involved a debut at an auto show or brand night to announce specs, a launch event to reveal pricing, and a media test drive. Total events per model usually maxed out at two or three.

That model has been rewritten.

As noted, March saw over 80 events—averaging nearly three per day, weekends included. April is barely half over, yet heavy hitters like the NIO ES9, IM LS8, XPENG MONA M03, Dongfeng Nissan NX8, and ZEEKR 8X have already hit the market. The Beijing Auto Show later this month will only intensify this product battle.

Industry estimates project more than 100 new models for the Chinese market in 2026, with some figures reaching as high as 150 to 170. That averages out to a new model roughly every two and a half days.

Image Source: SAIC Volkswagen

As launches proliferate, the warm-up cycle is lengthening. The path for mainstream new-energy vehicles has grown increasingly complex. It now typically features: a technology brand day breaking down batteries, autonomous driving, and chassis; a product debut revealing interior and exterior design; a pre-order event to test pricing waters; an official launch announcing final figures; and finally, delivery ceremonies, teardowns, or long-term test livestreams.

Automakers need to generate a new talking point almost every month. While some brands compress the pre-sale-to-delivery window to a month, others start teasing a full year in advance. The pacing is becoming increasingly polarized.

Image Source: Shanghai Release

Data from the Shanghai Auto Show in recent years confirms this shift. Official figures show that during the two media days in 2025, automakers and exhibitors held 193 press conferences—a record high. By comparison, the 2021 Shanghai show saw 138, 2023 topped 150, and the 2024 Beijing show reached 163. While the sheer volume of new models drives the total, the increase in events per single model is a significant contributor—a point acknowledged by multiple industry journalists.

Veteran media figures note the frequency has hit "several times a week." No sooner does one event end than invitations for the next arrive. Reporting resources are diluted, leaving little room for in-depth coverage. Some insiders even call this a "bizarre form of excessive rivalry" among automakers.

The Deep Industry Drivers Behind Launch Inflation

Blaming this surge solely on "internal competition" within marketing departments is too simplistic. At a deeper level, the phenomenon is rooted in shifting dynamics within the new-energy sector: the market has moved from growth to a zero-sum game. Product iteration speeds, technology refresh rates, and model launch density have all hit unprecedented levels.

Data from the China Passenger Car Association (CPCA) shows retail sales of new-energy passenger vehicles reached 1.844 million in the first quarter of 2026. March alone accounted for 784,000 units, with a penetration rate of 47.3%. While this dipped from the historic high of 51.2% in the fourth quarter of 2025, it remains elevated. In the first week of April, the retail penetration rate climbed to 57.7%, marking a new high for the year.

As penetration rates rise, the tax-exempt catalog for new-energy vehicles listed 19,977 models from January to March 2026. March alone added 391 new models, an increase over previous years, spanning everything from micro city cars to luxury flagships. The supply side is clearly accelerating. Amid such density, a model must make noise constantly to stay relevant.

Furthermore, product replacement cycles are accelerating. The internal combustion engine era's rhythm of a facelift every three years and a generational update every five has been shattered. Today, a facelift every six months and a new generation annually is becoming the norm. Multiple sources indicate development cycles for new models have dropped to 12 to 15 months, with some brands even launching facelifts almost immediately after a debut.

In this environment, automakers must continuously generate buzz for both new and existing models. Multiple launch events have become a strategy to maintain visibility.

Parallel to product updates is the accelerating pace of technological iteration, particularly in intelligent features. Technologies like City NOA, end-to-end large models, 800V high-voltage platforms, and semi-solid batteries see refreshes every few months.

Today, 800V architectures are standard for mainstream models, and BYD has already iterated from 800V to 1,000V platforms. In this context, a technology launch is more than a demo; it is a market statement intended to prove to users and investors that the company has not fallen behind in the tech race.

The acceleration of new launches and tech updates underpins the surge in events: when market supply explodes, product cycles shorten, and technology refreshes frequently, automakers must adopt a denser communication rhythm to capture the user's limited attention.

Image Source: BYD Auto

From a competitive standpoint, the battle in new-energy vehicles has escalated from "product competition" to "competition for definition." Regarding technological definition, the first to announce a feature—be it "900V," "5C supercharging," or "flash charging"—can temporarily seize the "leader" label in the consumer's mind. Consequently, some automakers are decoupling tech events from the launch cycle to stake their claim early.

Regarding pricing definition, pre-order events serve as market reaction tests. Amid frequent price wars, keeping a window for price adjustment is a rational choice.

Regarding trust definition, new brands lacking historical reputation—such as cross-border entrant Xiaomi—rely on transparency through teardowns, livestreams, and extreme testing to build user trust.

Chery Automobile Chairman Yin Tongyue once lamented being "held hostage by the industry," noting that a "man in his 60s was forced to become a pitchman." Great Wall Motor Chairman Wei Jianjun also expressed his frustration, directly criticizing the long-standing contradiction in China's auto industry between being a "tech mute" and engaging in "hyperbolic marketing."

It is clear that in this new marketing era, traditional automakers face widespread anxiety: they are not weak players, yet feel compelled to awkwardly mimic traffic-chasing tactics; they hold decades of technical accumulation, yet openly admit to being "hostage" to online traffic.

Two Sides of the Coin: Merits and Failings Amid the Noise

The proliferation of launch events, while controversial, is not without value. Objectively, this model has had some positive effects on users, the industry, and the content ecosystem.

For users, tech launches and teardown livestreams reduce information asymmetry.

Image Source: Xiaomi EV

In 2026, Xiaomi hosted two high-profile teardown livestreams. On January 3, Lei Jun disassembled the Xiaomi YU7 in a four-hour stream that generated over 300 million discussions, visually showcasing materials and technical details. On April 2, Lei Jun returned for a five-hour session to fully break down the new SU7, revealing locked orders had already exceeded 40,000 units. Such transparency objectively pressures automakers to improve quality control while allowing consumers to understand the underlying technology.

For the industry, frequent tech events force automakers to accelerate R&D. Iteration is now faster than in the internal combustion era. The 800V high-voltage platform, for instance, went from an ultra-luxury exclusive to a mainstream standard in just a few years—a testament to competitive pressure.

But the other side of the coin cannot be ignored.

For users, information overload leads to "launch fatigue." Some owners find the tactic of splitting a car's reveal into tech, pre-sale, and launch events exhausting, feeling strung along. Furthermore, high-frequency iterations often disadvantage existing owners.

For media, the flood of invitations dilutes manpower and material resources, squeezing the space for in-depth content.

For the industry, marketing costs are soaring. Industry data shows a standard new car launch budget runs between 2 million and 10 million yuan. From 2023 to 2025, average marketing expenses for automakers rose 18% annually, yet lead conversion rates fell from 8.2% to 4.7%, driving the cost per lead up from 200 yuan to 580 yuan.

The soaring marketing expenses of automakers confirm this trend. From 2020 to the third quarter of 2025, Seres accumulated 47.468 billion yuan in selling expenses. In the first half of 2025 alone, selling expenses reached 8.9 billion yuan, with "advertising, flagship store construction, and service fees" accounting for 8.4 billion yuan—or 94% of the total.

Great Wall Motor's 2025 financial report shows annual selling expenses reached 11.273 billion yuan, a year-on-year surge of 43.93%. The report explicitly states these funds were primarily used to "accelerate the construction of new direct-to-user channels" and "intensify the launch promotion of new models and technologies."

Similarly, Xiaomi EV's sales and promotion expenses jumped to 33.2 billion yuan in 2025 from 25.4 billion yuan in 2024, with management expecting further increases. As a new entrant, the intensity of its marketing spend during the brand-building phase is understandable.

Amid white-hot competition and a barrage of new product launches, automakers are forced to double down on marketing. The rising frequency of launch events is a direct reflection of this inflation in marketing spend.

A veteran industry media figure offered a deeper analysis of the phenomenon in an interview. He recalled, "There used to be no teardowns. Brands relied on consumer trust; they didn't need to show you the insides." In his view, the underlying logic for this trend boils down to one concept: "excessive rivalry"—and much of it is meaningless.

He noted that international brands used to have their own culture and approach, handling launches and test drives on their own terms. Now, they try every trick in the book. He quipped, "It feels like if you don't do it, the boss gets fired tomorrow." He also believes international brands remain relatively restrained in their launch rhythm compared to domestic firms, citing Tesla specifically: "Tesla launches new cars without holding events. That's Musk's style—minimalist, utilitarian."

Against the backdrop of proliferating events, some divergent approaches are worth noting.

Image Source: Tesla

Tesla is a prime example. While most automakers packed offline venues, the Tesla Model Y L in China was updated with new specs and pricing directly on the official website. No traditional offline or online event was held. This "surprise drop" approach sparked widespread discussion at the time, catching even some sales staff off guard.

Prior to the update, Tesla had only released a few short teaser videos on social media before going live with the product.

Tesla Vice President of External Affairs Tao Lin once stated, "Tesla has no PR." This minimalist model is built on strong brand equity. For most new brands still establishing awareness, it is difficult to replicate in the short term.

For most mainstream automakers, especially "new force" EV makers, finding a balance between efficiency and visibility is a pressing reality.

More than one media practitioner has suggested automakers consolidate events, recommending, for instance, "combining tech deep-dives with pre-orders, or merging static and dynamic showcases."

Conclusion

The multiplication of launch events for a single model is not an active choice by marketing departments, but a byproduct of the new-energy sector's entry into high-intensity competition. It is both a survival strategy and a "prisoner's dilemma."

As launches become routine, their scarcity and sense of occasion are fading. Users are developing a "launch noise filter," actively tuning out excess information to focus only on final prices and real experiences. This trend may force automakers to return to efficiency.

Wei Jianjun has argued that the auto industry should not fall into meaningless excessive rivalry, particularly the hyperbole in marketing, which misleads consumers and damages brand credibility. His point underscores a basic truth: marketing cannot replace the product itself.

After the extreme competition over launch quantity and density, the deciding factor in the next phase may not be who can tell the longer story, but who can build trust and visibility more efficiently.

For the first quarter, the country's cumulative PV retail sales totaled 4.226 million units, representing a 17.4% decline compared with the same period last year.

For clarity, the PVs mentioned here are all locally produced on the Chinese Mainland.

The CPCA noted that overall market performance in the first quarter slightly exceeded expectations, despite the year-on-year decline. Seasonal and policy-related factors continue to distort demand patterns, with sales in recent years typically skewed toward the second half. In 2026, the late timing of the Chinese New Year, combined with ongoing adjustments to fiscal and tax policies, contributed to weaker retail activity early in the year, followed by a gradual recovery.

China's self-owned brands recorded retail sales of 1.02 million units in March, down 16% year-on-year but up 61% month-on-month, capturing a 61.8% market share—0.8 percentage points lower than a year earlier. While performance in the new energy vehicle and export segments remained relatively stable, leading legacy automakers undergoing transformation, such as Geely and Changan, continued to expand their market presence.

Mainstream joint-venture brands posted retail sales of 410,000 units in March, marking a 13% year-on-year decline and a 54% increase from the previous month. German brands accounted for 16% of the market, down 0.7 percentage points year-on-year, while Japanese brands improved their share to 13.3%, up 1 percentage point. U.S. brands held a 6.9% share, edging up 0.1 percentage points over a year earlier, while South Korean brands remained broadly stable.

Luxury vehicle retail sales reached 210,000 units in March, down 15% year-on-year but rising 62% from February. As pricing strategies normalized, the segment's retail share edged up to 12.9%, suggesting early signs of stabilization in the Luxury market.

PV wholesale volumes reached 2.378 million units in March, down 1.6% year-on-year but up 56.6% month-on-month. Driven by a sharp surge in exports, wholesale growth outpaced retail by 13.4 percentage points.

Chinese automakers sold 1.611 million units by wholesale, up 2% year-on-year and 50% from February. Joint-venture brands recorded 490,000 units, down 10% year-on-year but surging 75% month-on-month, while Luxury vehicle brands record a wholesale volume of 270,000 units, down 3% year-on-year and up 69% month-on-month.

The competitive landscape among major automakers continued to evolve, with companies including Geely, Chery, Changan, SAIC MOTOR Passenger Vehicle, Tesla, FAW Toyota, GAC Toyota, Dongfeng Nissan, Dongfeng Motor, Leapmotor, and SAIC-GM all reporting year-on-year wholesale growth.

Five automakers recorded monthly wholesale volumes exceeding 100,000 units, up from three in February and in line with the same period last year, accounting for 44% of total market share. Manufacturers with monthly volumes between 50,000 and 100,000 units held a 31% share, while those in the 10,000–50,000 range accounted for 21%.

A total of 19 PV models recorded wholesale volumes exceeding 20,000 units in March, up sharply from eight models in February. Leading the list were BYD Song with 66,989 units and Tesla Model Y with 55,856 units, followed by Geely Xingyuan at 40,613 units and Chery Tansuo 06 at 36,583 units. Other high-volume models included BYD Seagull (30,636 units), Tesla Model 3 (29,814 units), Nissan Sylphy (27,514 units), Chery Tiggo 7 (26,895 units), and BYD Dolphin (25,770 units), alongside several popular SUVs and sedans such as Geely Boyue, Li i6, Changan EADO, Changan CS75, Yuan UP, Toyota RAV4, etc.

New energy vehicles accounted for the majority of these top-selling models, highlighting their dominant position in the market.

PV exports, including fully built units and CKD kits, surged to 695,000 units in March, up 74.3% year-on-year and 25.2% from February. New energy vehicles accounted for 50.2% of total exports, an increase of 14 percentage points compared with a year earlier.

Chinese brands dominated overseas shipments with 606,000 units, up 76% year-on-year, while joint-venture and Luxury brands exported 88,000 units, rising 65% from a year earlier.

PV production reached 2.364 million units in March, down 4.9% year-on-year but jumping 72.2% month-on-month.

Luxury vehicle output increased 1% year-on-year and 73% month-on-month, while joint-venture production declined 8% year-on-year but surged 91% from February. Chinese brands saw output fall 5% year-on-year, though production rose 67% compared with the previous month.

China's new energy passenger vehicle (NEPV) production reached 1.123 million units in March, slipping 3.8% year-on-year but jumping 74.3% from February.

Over the first quarter, total NEPV output stood at 2.708 million units, down 7.6% compared with the same period last year, reflecting a slower start to the year despite the sharp monthly rebound.

Retail sales of NEPVs totaled 848,000 units in March, down 14.4% year-on-year but surging 82.6% month-on-month.

For the January–March period, cumulative NEPV retail volume reached 1.908 million units, marking a 21.1% decline from a year earlier, underscoring the continued pressure on consumer demand in early 2026.

Despite softer sales, electrification continued to deepen. NEVs accounted for 51.5% of total PV retail sales in March, up 0.3 percentage points year-on-year and 7 percentage points higher than in February.

Penetration rates varied significantly by segment. Chinese brands saw NEVs make up 73.5% of their retail sales, while the figure stood at 33.9% for luxury brands and just 6.2% for mainstream joint-venture automakers.

By brand grouping, Chinese players captured 66.6% of NEPV retail sales, down 5 percentage points from a year earlier. Mainstream joint-venture brands held a modest 3.4% share, up 0.8 percentage points. Chinese NEV startups accounted for 21.5%, gaining 4.4 percentage points year-on-year, driven by companies such as Leapmotor, Li Auto, and NIO. Tesla's share came in at 6.6%, down 0.9 percentage points.

Wholesale volume of NEPVs reached 1.144 million units in March, rising 1.1% year-on-year and 58.3% from the previous month.

In the first quarter, NEPV wholesale volumes totaled 2.733 million units, down 4.3% year-on-year, again highlighting the uneven demand recovery.

At the wholesale level, NEVs accounted for 48.1% of total PV wholesales in March, an increase of 1.3 percentage points from a year earlier.

Among manufacturers, NEV penetration reached 61.7% for Chinese brands, 43.3% for luxury brands, and only 6.4% for joint-venture automakers, reflecting a widening electrification gap across the market.

NEPV exports continued to surge, reaching 349,000 units in March—up 139.9% year-on-year and 29.6% from February.

For the first quarter, NEPV exports totaled 908,000 units, representing a 123.7% increase compared with the same period last year, reinforcing the growing role of overseas markets in sustaining China's NEV growth momentum.

Gasgoo Munich- Great Wall Motor has officially named its new Haval flagship SUV the GWM H10, according to an announcement obtained by Gasgoo.

Image Credit: Great Wall Motor

Zhang Fuzhi, deputy general manager of Haval marketing, revealed the flagship’s side profile on April 6 via official channels. The design adopts a rugged, boxy off-road aesthetic with sharp lines and commanding road presence. Distinctive rectangular headlights anchor the front, while the roof is expected to host a LiDAR sensor to support advanced driver-assistance systems. A near-vertical rear window and an externally mounted full-size spare tire reinforce its hard-edged character. Notably, the vehicle will also feature the signature "small blue light," a detail that has sparked public interest and signals its special status.

Built on GWM’s high-end "Guiyuan Platform," the vehicle is positioned as the Haval brand’s flagship SUV. Pricing is expected to hover around the 300,000 yuan mark.

In a notable move, GWM Chair Wei Jianjun previously released a video inviting the public to name the vehicle. He revealed a sharp internal divide over the decision: one faction pushed to continue the classic Haval H-series lineage with "H10," while the other argued for "HX" — using "X" to symbolize infinite possibilities.

The company ultimately launched a global naming campaign. After shortlisting top nominations on April 10 and opening the final vote, "GWM H10" emerged victorious following a tight race, securing the spot as the model's official name.

OEM Trend

• IT Home: On April 15, following a brief period of quiet, Huawei Select Product Director for the Stelato series, Peng Lei, announced on Weibo that the Stelato brand has secured the sales crown for new-energy sedans priced above 300,000 yuan for six consecutive months. When a netizen commented that Stelato has no new models in the first half and won't appear at the Beijing Auto Show, fading into silence, Peng Lei responded directly: It will be at the Beijing Auto Show. The remark suggests that Stelato will reveal more details about its new models during the event.

• Jiemian News: Tesla CEO Elon Musk announced on April 15 that Tesla's AI chip design team has successfully completed the tape-out of the AI5 chip. He also revealed that more powerful variants, including the AI6 and Dojo 3, are currently in development. Musk expressed gratitude to partners TSMC and Samsung for their support during the mass production process, adding that the AI5 chip is poised to become one of the highest-volume AI chips globally.

• CLS News: On April 15, China's Vice Minister of Commerce and International Trade Representative met with Doug Field, Ford Motor's Executive Vice President and Chief Government Affairs Officer, in Beijing. The two sides discussed China-U.S. economic and trade relations, as well as Ford's development in China. The Vice Minister noted that the automotive industries in both countries are complementary with broad room for cooperation, expressing hope that Ford will continue to deepen its presence in the Chinese market and strengthen collaboration with local enterprises to deliver more competitive products. Field stated that Ford has operated in China for many years and places high importance on the market and its supply chain. He expressed a willingness to explore new opportunities with partners and hopes for stable development in China-U.S. trade relations.

• CLS News: Intellectual property data from Tianyancha on April 15 shows that Xiaomi EV Technology Co., Ltd. has been granted a patent for a "noise reduction processing method, device, vehicle, and storage medium." The abstract indicates that the technology identifies noise scenarios based on the vehicle's error signals and accelerometer data. It decomposes the accelerometer signals into multiple non-overlapping sub-band signals and applies adaptive filtering using corresponding parameters to generate full-band noise reduction signals. This solution allows for efficient handling of complex, multi-spectral noise, improving noise reduction performance and enhancing the overall user experience.

Supply Chain News

• CLS News: Lonxi Technology stated during an earnings briefing on April 15 that leveraging its ecosystem partnership with NVIDIA, the market recognition for its connectivity and smart video chips has further improved. The company maintains deep reference design cooperation with NVIDIA in smart cockpits, ADAS, in-vehicle displays, and high-end displays, with some products already in mass production. As Lonxi continues to unlock synergies, it sees significant potential for business expansion as demand grows for automotive and high-end display applications.

• Gasgoo: Bosch's smart cockpit solution, built on the Qualcomm Snapdragon platform, has officially topped 10 million cumulative global deliveries. The solution hit the 1-million mark in 2023, meaning it has achieved a tenfold surge in volume in just three short years.

• Gasgoo: Chongqing Tailan New Energy Co., Ltd. has unveiled the "Safe+" solid-state battery solution designed for embodied intelligence products and has partnered with leading domestic robotics companies. The first batch of battery packs has been delivered to partners for multi-scenario testing. This marks the formal entry of solid-state battery technology into the field of embodied intelligent robotics, taking a substantial step toward realizing a "super solid-state heart" for robots.

• IT Home: Reports indicate that Uber is significantly doubling down on autonomous driving, planning to invest over $10 billion to purchase self-driving vehicles and invest in related companies. The move marks a shift away from its previous asset-light "gig economy" model as it braces for the impact of robotaxis.

Industrial Economy

• Jiemian News: Data from the China Passenger Car Association (CPCA) shows that from April 1 to 12, nationwide passenger car retail sales reached 377,000 units—a 20% drop year-on-year and a 12% decline from the previous month. Year-to-date retail sales totaled 4.598 million units, down 18%. In the same period, retail sales of new-energy vehicles stood at 224,000 units, falling 11% from last year but rising 7% from March. Cumulative NEV retail sales for the year reached 2.132 million units, a 20% annual decrease. The retail penetration rate for NEVs during the April 1-12 period was 59.5%, while the wholesale penetration rate stood at 53.2%.

• CLS News: On April 15, data from South Korea's Ministry of Trade, Industry and Energy showed that South Korea's automotive exports reached $6.37 billion in March 2026, up 2.2% year-on-year. New-energy vehicles were a key driver of this growth. Hybrid exports jumped 79% in March, while electric vehicles rose 32%, pushing overall NEV exports up by 42.6%. On the production front, production reached 387,000 units in March, a 4.5% annual increase. Cumulative production for the first quarter totaled 1.026 million units, up 1.3% year-on-year, marking the fourth consecutive year above the 1 million unit threshold.

• Keji: News on April 15 indicates that a new round of price adjustments will kick off at 24:00 on April 21, with domestic gasoline and diesel prices expected to drop significantly. The potential decline is driven primarily by a recent sharp pullback in international oil prices.

• Gasgoo: On April 15, Yuansheng Intelligence, a high-performance dexterous robotics hand company, announced the completion of a Pre-A financing round exceeding 100 million yuan. The round was co-led by Fortune Capital and existing shareholder Primavera Capital, with participation from Ince Capital and Nanshan Strategic Emerging Industry Investment. Existing shareholder Hony Capital also oversubscribed. The capital will be used to expand capacity and enable mass delivery of the Apex Hand, build the dexterous manipulation platform ecosystem, and drive global market expansion to consolidate the company's technological edge.

• IT Home: Data from Benchmark Mineral Intelligence reveals that rising gasoline prices in Europe are driving consumers toward battery-electric and plug-in hybrid vehicles, leading global EV sales to register their first year-on-year growth of the year in March. Figures show global registrations for BEVs and PHEVs climbed 3% annually to exceed 1.7 million units. Europe performed particularly well, with sales surging 37% to approximately 540,000 units—a new record high.

• Gasgoo: Beijing Deta Yuanchuang Intelligent Technology Co., Ltd. recently announced the completion of three financing rounds totaling over 100 million yuan, with additional investment from Hillhouse Venture and strategic entry from leading players such as Leju, Zhiyuan, and Xinghaitu. Deta Intelligence is a next-generation embodied intelligence company incubated by the Beijing Institute of General Artificial Intelligence (BIGAI). It is dedicated to developing native foundation models for humanoid robots, combining them with a proprietary native 3D world engine to achieve universal whole-body coordination.

Policy Situation

• CLS News: Recently, the Ministry of Industry and Information Technology's Equipment Industry Department, the Traffic Management Bureau of the Ministry of Public Security, and the Transport Service Department of the Ministry of Transport jointly held a meeting on road testing and demonstration applications for intelligent connected vehicles. The session focused on deploying self-inspections and rectification efforts to strengthen safety supervision. The meeting emphasized balancing development with security and conducting road testing and demonstrations in a steady and orderly manner. Local authorities were urged to conduct comprehensive self-assessments in light of recent safety incidents, identify key issues, and carry out rectifications diligently. Authorities are expected to establish robust working mechanisms, refine management policies, and strengthen full-process safety oversight to ensure activities proceed safely. Relevant departments will continue to improve regulations for autonomous driving, establishing a three-tier evaluation mechanism for technical maturity and safety at the national, local, and enterprise levels. The goal is to bolster emergency response capabilities and promote the high-quality development of the intelligent connected vehicle industry through enhanced safety standards.

According to data compiled by the Gasgoo Automotive Research Institute, the regional distribution of China's independent automakers' passenger vehicle exports for the Jan.–Feb. period 2026 shows that BYD, Geely, and Chery continued to pursue differentiated global expansion paths, further highlighting the resilience and diversity of China's automotive globalization.

BYD focused on Central and South America and Europe, consolidating its scale advantage in NEV exports. Chery led strongly in Europe while also achieving growth in the Middle East, advancing a dual-track strategy across both mature and emerging markets. Geely continued to deepen its presence in the CIS and European markets, building a more balanced export structure. Together, the three automakers illustrate distinct globalization strategies and jointly outline a new phase of China's automotive global expansion.

The regional export destination ranking of BYD passenger vehicles (Jan. - Feb. 2026) is as follows:

Central & South America: From January to February 2026, BYD exported 60,082 units to the region

EU+UK+EFTA: From January to February 2026, BYD exported 40,919 units to the region

Middle East: From January to February 2026, BYD exported 26,593 units to the region

Southeast Asia: From January to February 2026, BYD exported 13,271 units to the region

Oceania: From January to February 2026, BYD exported 9,677 units to the region

CIS Countries: From January to February 2026, BYD exported 8,010 units to the region

Rest of Asia: From January to February 2026, BYD exported 7,465 units to the region

Africa: From January to February 2026, BYD exported 6,329 units to the region

Rest of Europe: From January to February 2026, BYD exported 679 units to the region

North America: From January to February 2026, BYD exported 4 units to the region

BYD's global passenger vehicle export footprint shows a pattern of shifting core markets and multi-point breakthroughs in emerging regions, indicating its globalization strategy is entering a new phase of refinement and deepening. Central and South America led the pack with 60,082 units, becoming BYD's largest export region. This growth was mainly driven by continued localization efforts in markets such as Brazil, along with expanding channel networks, product adaptation, and supportive local NEV policies, which together helped build strong economies of scale.

The EU, the UK, and EFTA region followed with 40,919 units, maintaining solid performance in major European markets and reflecting growing acceptance of NEVs in mature overseas markets. Notably, Southeast Asia—previously a key export stronghold for BYD—dropped to fourth place in Jan–Feb 2026. This shift was largely influenced by intensified competition, policy adjustments in certain markets, and phased capacity allocation, also suggesting that BYD's competitive advantage in the region is facing new challenges.

The regional export destination ranking of Geely Holding passenger vehicles (Jan. - Feb. 2026) is as follows:

CIS Countries: From January to February 2026, Geely Holding Group exported 26,947 units to the region

EU+UK+EFTA: From January to February 2026, Geely Holding Group exported 24,678 units to the region

Southeast Asia: From January to February 2026, Geely Holding Group exported 24,351 units to the region

Central & South America: From January to February 2026, Geely Holding Group exported 22,587 units to the region

Africa: From January to February 2026, Geely Holding Group exported 20,274 units to the region

Middle East: From January to February 2026, Geely Holding Group exported 13,277 units to the region

Oceania: From January to February 2026, Geely Holding Group exported 3,470 units to the region

Rest of Asia: From January to February 2026, Geely Holding Group exported 2,764 units to the region

North America: From January to February 2026, Geely Holding Group exported 2,638 units to the region

Rest of Europe: From January to February 2026, Geely Holding Group exported 632 units to the region

From the export data for the Jan. – Feb. period 2026, Geely Holding's global footprint shows a balanced strategy, with emerging markets as its foundation and accelerating breakthroughs in mature markets. The CIS region ranked first with 26,947 units, remaining Geely's core export market, reflecting the strong barriers it has built through long-term product localization, channel development, and localized operations.

Notably, Geely achieved significant progress in the EU, the UK, and EFTA region, with exports reaching 24,678 units to rank second. This was driven by the accelerated rollout of its NEV products in Europe, along with synergies from brands such as Volvo and Lynk & Co, marking a new phase of gains in high-end and mature markets.

Meanwhile, Southeast Asia ranked third with 24,351 units, while exports to Central and South America also exceeded 20,000 units. This indicates Geely is gaining momentum in these high-potential markets and gradually building a multi-regional growth structure.

The regional export destination ranking of Chery Holding passenger vehicles (Jan. - Feb. 2026) is as follows:

EU+UK+EFTA: From January to February 2026, Chery Holding Group exported 71,600 units to the region

Middle East: From January to February 2026, Chery Holding Group exported 57,175 units to the region

CIS Countries: From January to February 2026, Chery Holding Group exported 52,996 units to the region

Central & South America: From January to February 2026, Chery Holding Group exported 28,929 units to the region

Africa: From January to February 2026, Chery Holding Group exported 24,048 units to the region

Southeast Asia: From January to February 2026, Chery Holding Group exported 15,199 units to the region

Oceania: From January to February 2026, Chery Holding Group exported 4,705 units to the region

Rest of Asia: From January to February 2026, Chery Holding Group exported 3,254 units to the region

North America: From January to February 2026, Chery Holding Group exported 1,453 units to the region

Rest of Europe: From January to February 2026, Chery Holding Group exported 436 units to the region

Chery Holding's global footprint is characterized by strong leadership in mature markets and broad-based expansion across emerging regions, with robust overall growth momentum. The EU, the UK, and EFTA region ranked first with 71,600 units, becoming Chery's largest export market and signaling that its product strength and brand recognition in Europe have entered the top tier. Europe is increasingly serving as the core engine of its export growth.

Meanwhile, exports to the Middle East and the CIS both exceeded 50,000 units, while Central and South America as well as Africa each surpassed 20,000 units. These four emerging regions together form Chery's second growth curve, creating a "core + multi-polar" structure alongside Europe. Such a diversified and multi-market export portfolio not only provides stable volume support but also helps mitigate risks from policy changes and currency fluctuations in any single market, highlighting the resilience of its global strategy.

Gasgoo Munich-On April 14, Chongqing TaiLan New Energy Co., Ltd. unveiled its "Safe+" solid-state battery solution tailored for embodied AI applications. The company has partnered with leading domestic robotics firms, delivering the first batch of battery packs for multi-scenario testing.

This marks the official entry of solid-state battery technology into the realm of embodied AI robotics—a substantial step toward equipping robots with a "super solid-state heart."

As the global wave of intelligent manufacturing accelerates, industrial and service robots are becoming critical infrastructure for smart retail, unmanned factories, and flexible production lines.

However, traditional liquid lithium batteries struggle to meet the demands of high-load, high-dynamic, and long-duration robotic operations. Issues like safety risks and low power efficiency are severely limiting robots' continuous operation capabilities and deployment flexibility.

Solid-state batteries, with their intrinsic safety and high energy density, are widely regarded as the ideal solution to these power challenges.

Image source: TaiLan New Energy

Tailored for high-power charging and discharging, frequent start-stop cycles, and complex operating environments, TaiLan's "Safe+" solution breaks from the traditional "cell-first, system-later" development model. By factoring in mechanical, electrical, and thermal performance during the initial design phase, the approach ensures compliance with the highest safety standards required for dynamic robotic applications.

In terms of key performance metrics, TaiLan's semi-solid batteries—hybrid solid-liquid cells—are delivering standout results.

For instance, the batteries operate across a wide temperature range from -40°C to 80°C, maintaining 1C continuous discharge even at -40°C. This capability ensures robots can perform outdoor tasks reliably during harsh northern winters or in Nordic climates. On the safety front, TaiLan employs a collaborative design spanning the cell, integration, and drive systems to maximize safety characteristics. The mass-produced units delivered to partners have already passed rigorous tests, including full-mapping short circuits and overcharging, guaranteeing reliability even under extreme abuse conditions.

At an industry level, TaiLan New Energy is building an open ecosystem integrating solid-state batteries with embodied AI. Leveraging a deep understanding of customer products and power requirements, the company offers customized services ranging from the cell to the system level. Its offerings cover various forms, including fixed-base robotic arms for industrial lines, wheeled mobile robots, quadruped robot dogs, and general-purpose humanoid service robots.

Industry forecasts predict the global robotics market will exceed $400 billion by 2029, driving explosive growth in annual demand for high-performance solid-state batteries. The launch of TaiLan's "Safe+" solution is poised to become a crucial pillar in building the core competitiveness of domestic high-end robots.

Gasgoo Munich-The "Innovation Gathering Momentum, Technology Leading — FAW-Volkswagen First Technology Innovation Forum," co-hosted by Gasgoo and FAW-Volkswagen, wrapped up on April 11.

Blending technology exhibitions, closed-door seminars, and keynote forums, the event highlighted forward-looking industry trends, core technological achievements, and innovative application cases. Crucially, it built a bridge between top-tier suppliers and OEMs, offering a practical platform to deepen exchanges and pinpoint collaboration opportunities.

Technology Innovation Keynote Forum

The keynote forum served as a deep-dive platform for knowledge sharing, where speakers from diverse business backgrounds exchanged views on key trends in intelligent technology and product innovation.

Gasgoo CEO Zhou Xiaoying opened the session with an outlook on technological innovation in China's smart EV sector. Qiu Chao, vice president of Huawei's Qiankun Intelligent Driving Solution, dissected the roadmap from driver assistance to full autonomy. Meanwhile, Roland Berger Global Partner Xu Huxiong offered an interpretation of forward-looking trends in smart electrification.

Wang Shiyu, general manager of Altech's Styling Research Institute, discussed automotive design trends and AI empowerment in a competitive landscape. Liu Xiaodong from Volcano Engine's Doubao Cockpit Large Model Solution focused on "From Linguistic Intelligence to Physical Intelligence — Large Model Trends and Cockpit Deployment."

Closed-Door Seminar

Executives from RoboSense, AX AI, Zhiyun Technology, Sisuo Technology, and Yangjie Automotive Electronics were invited to the closed-door seminar. Discussions centered on intelligent driving, lightweighting, new materials, and smart cockpits. By tackling implementation pain points and application scenarios, R&D teams and suppliers aligned their needs, laying a solid foundation for future cooperation.

Advanced Technology Exhibition

Running for two days, the exhibition featured over 50 premium suppliers displaying their latest advancements across smart cockpits, intelligent driving, lightweighting, new materials, efficiency improvements, and thermal management. These companies engaged directly with FAW-Volkswagen's R&D team.

In the smart cockpit sector, innovations included contactless and contact sensors, along with seat controller solutions for massage and slide rails. Intelligent driving exhibits featured low-voltage connectors for ADAS and overseas IoT platforms. Meanwhile, the lightweighting and new materials segment showcased cutting-edge tech like integrated die-casting solutions and ultrasonic pre-embedded plastic nuts (zEPP).

The electrification and thermal management sector highlighted high-efficiency thermal systems, low-loss technologies, and high-current fast-charging applications. The new technology zone pushed boundaries further, displaying forward-looking innovations such as communication SDKs and SLAM mapping simulation platforms for humanoid robots, alongside low-altitude economy flight platforms.

Exhibitors are listed below. For more details, visit the Gasgoo Global Automotive Industry Big Data Platform (autodata.gasgoo.com).

The event established efficient communication channels between FAW-Volkswagen and numerous premium suppliers, broadening the scope for technology selection and optimizing supply chain resilience. It also provided a professional stage for small and medium-sized tech enterprises with core innovations to demonstrate their capabilities and integrate into the mainstream automotive supply chain.

With that, the "Innovation Gathering Momentum, Technology Leading" FAW-Volkswagen First Technology Innovation Forum has drawn to a close. On April 16, Gasgoo will host "Inside JAC," inviting companies across the supply chain to participate.

Click the text below to review past content:

Inside FAW-Volkswagen | Innovation Gathering Momentum, Exploring New Paths for Tech Development

Inside JAC | Using Tech Exchange as a Bridge to Explore New Paths for Low-Power Electrification

Inside Dongfeng | Same Source Shared Chain Innovation Tech Exhibition and Intelligentization Forum Concludes

Inside Dongfeng | Same Source Shared Chain, Opening a New Journey of Intelligent Transformation

Inside BAIC | Building a Diverse Industrial Ecosystem, Exploring New Paths for Intelligent Transformation

Inside BAIC | "AI · Leading the Future" Innovation Tech Forum and Forward-Looking Tech Exhibition Concludes

Inside Hongqi | Tech Deepening Builds Market Confidence, Exploring "New Mobile Realm"

Inside Hongqi | Exploring "New Mobile Realm" Forward-Looking Tech Exhibition Concludes

Gasgoo Munich-Bosch has officially surpassed 10 million cumulative global deliveries of its smart cockpit solution built on the Qualcomm Snapdragon platform, Gasgoo reports.

The solution hit the 1 million mark in 2023. That means deliveries have jumped tenfold in just three years.

Bosch has been mapping out multiple product generations since 2021, when it became the first in the industry to launch a smart cockpit domain controller based on the Qualcomm SA8155P. Its second-generation domain fusion solution, released in 2024, supports a new form factor that fuses cabin and driving functions. By integrating cost-effective components like converged gateways and TBOX units, it enables cross-domain collaboration.

Data from Bosch Smart Driving Control shows that as of October 2025, the company had secured over 100 mass-production and development projects for its smart cockpit solution. It has also helped more than 20 models from five top domestic brands enter overseas markets.

Image Credit: Bosch Smart Driving Control

Behind this success is a complete toolchain and solution suite spanning chip adaptation, system optimization, and application development. Bosch has also combined global delivery capabilities with local market insights.

Leveraging experience from millions of units produced, Bosch is now pushing the rapid evolution toward AI-enabled cockpits. The company plans to launch its third-generation AI smart cockpit platform this year. Built around high-computing AI chips, the platform will power intelligent scenarios and offer a flexible AI Box solution to meet diverse customer needs.

Specifically, Bosch's AI cockpit uses an efficient "edge-cloud collaboration" architecture to achieve millisecond-level responses and accurately interpret user intent. By integrating AI.OS, the OMNI model, and context memory management, the system shifts from simply responding to actively predicting needs. High-performance computing, combined with Bosch's full-stack integration capabilities, breaks down barriers between the cockpit and the external world, creating an immersive, full-scenario mobility ecosystem.

Next year, Bosch plans to introduce a full-scenario, AI-driven central vehicle brain. Through comprehensive AI integration, it aims to deliver a truly disruptive mobility experience.

Gasgoo Munich-Gasgoo reported on April 15 that data released by the Japan Automobile Importers Association (JAIA) shows sales of imported cars in Japan (excluding domestic manufacturers) rose 3% year-on-year to 238,081 units in 2025, marking the first increase in seven years.

Amid modest overall growth, a structural shift driven by electrification is underway. Mercedes-Benz and BMW reported sales declines, while BYD doubled its sales year-over-year, gaining visibility among Japanese consumers.

EVs Drive Market Rebound; Import Electrification Rate Reaches 14%

Battery electric vehicles (EVs) were the primary driver of growth in Japan's imported car market in 2025.

Imported EV sales rose 34% to 33,299 units, marking the seventh consecutive year of growth. These models accounted for 14% of total imported car sales, up 3 percentage points from the previous year.

This increase stems from specific factors.

The JAIA chairman stated at a press conference in July 2025 that the number of imported EV models expanded from 20 models across 10 brands in 2020 to 173 models across 22 brands by the end of June 2025. This represents a roughly ninefold increase in four years.

Increased government subsidies for EVs have supported consumption. Starting January 1, 2026, the maximum EV subsidy will increase from 900,000 yen to 1.3 million yen.

Supportive policies and a wider range of models have driven the expansion of the imported EV market.

The strong performance of imported EVs contrasts with Japan's low overall EV penetration rate.

As of September 2025, Japan's new energy vehicle penetration rate stood at 2.8%, with pure electric models accounting for only 1.7%.

Imported EVs hold a significant share of Japan's EV market. They are meeting electrification demand and playing a key role in Japan's transition to electric power.

BYD Doubles Sales; Localization Strategy Penetrates "Closed Market"

BYD's performance stood out among brand results.

BYD's sales in Japan doubled to 4,536 units in 2025.

Image Source: BYD

Compared to the 3,870 units (up 62%) previously reported by Nikkei Chinese for 2025, BYD's momentum accelerated in the fourth quarter. The "Sealion 7" SUV, launched in April, continued to sell well. BYD plans to launch the light EV "Racco" in Japan in summer 2026 to expand market share.

Given the high brand loyalty and the 90% market share held by domestic automakers, how did BYD achieve a rapid breakthrough?

The answer lies in a deep localization strategy.

BYD's approach involves understanding the Japanese market from the ground up.

In October 2025, BYD attended the 2025 Japan Mobility Show (Tokyo Motor Show), unveiling the K-EV BYD RACCO tailored for the Japanese market. It also launched a "pure EV + hybrid" strategy, introducing its first plug-in hybrid model in Japan, the Sealion 06 DM-i.

BYD has entered the Kei car segment, which accounts for about 40% of the Japanese auto market, competing directly with local giants like Toyota and Suzuki.

BYD's growth is not an isolated case.

Tesla has not released official sales figures for Japan; however, sales in the "Other" category, which Tesla dominates, totaled 13,717 units.

The landscape of Japan's imported car market is changing due to electrification.

Traditional giants, however, are facing challenges.

Mercedes-Benz sales in Japan fell 6% to 49,654 units in 2025, retaining the top spot, while BMW sales dropped 7% to 34,044 units.

German brands face pressure from a slow transition to electrification, lengthy product cycles, and Japanese consumers increasingly adopting electric vehicles.

Electric vehicle manufacturers from China and the U.S. are emerging as significant challengers to German brands, which have long dominated Japan's imported car market.

Gasgoo Munich-AVATR Technology and Huawei Smartcom have inked a strategic partnership in Shenzhen, according to a report by Gasgoo on April 14, 2026. The collaboration will span four key pillars: joint service ecosystem creation, elevating the service experience, sharpening frontline staff capabilities, and exploring digital services.

Image Credit: AVATR

As a wholly-owned Huawei subsidiary, Huawei Smartcom brings 22 years of operational experience in the high-end service sector, spanning store standardization, service system architecture, and user experience refinement. Under the agreement, Huawei Smartcom will transfer its mature operational capabilities to AVATR. By leveraging AVATR's brand resources, the pair aim to build standardized processes, cultivate top-tier service teams, and establish benchmark stores. The goal is a unified service framework covering the entire vehicle lifecycle—from selection and viewing to purchase and ownership.

At the signing ceremony, AVATR Chairman Wang Hui noted that while joint technical innovation with Huawei has already fortified the company's product moat, this new partnership with Huawei Smartcom will bolster its service soft power for end users. Chi Linchun, vice president of Huawei's Intelligent Automotive Solutions BU, added that the companies will build a luxury service system with consistent standards across critical touchpoints—including in-store consultations, test drives, vehicle delivery, and after-sales support.

Moving forward, the partners will remain user-centric, driving the continuous iteration of high-end service standards and strengthening independent service capabilities.

Gasgoo Munich-Gasgoo has learned that the China Automobile Dealers Association (CADA) recently released its inventory survey results for March 2026. The comprehensive inventory coefficient for auto dealers stood at 1.76, down 9.7% month-on-month but up 12.8% year-on-year. It remains above the warning line, indicating persistent pressure on industry inventories.

Image Source: China Automobile Dealers Association

The CADA noted that the auto market in March followed a "low start, high finish" trajectory, with a steady recovery. The first half of the month marked a post-Spring Festival repair phase, seeing slow demand recovery. In the second half, over 20 provinces and cities launched spring auto consumption campaigns. Trade-in subsidies took effect, dealers ramped up discounts and financial incentives, and end-market demand gradually improved, causing inventory depth to retreat month-on-month. More than 60 new models launched that month, lifting market attention, but with most deliveries concentrated after April, the buzz didn't fully translate into March sales.

According to the CADA's Passenger Car Committee, passenger vehicle retail sales reached 1.648 million units in March. Based on this, the total inventory held by auto dealers at the end of March was estimated at roughly 2.9 million units.

Inventory performance showed a clear split among brands in March. The inventory coefficient for high-end luxury and imported brands hit 1.91, up 11.0% from the previous month. Joint venture brands saw a sharper rise to 2.21, climbing 28.5%. Domestic brands, meanwhile, bucked the trend with a coefficient of 1.51, down 28.4%. Among mainstream brands, 16 carried inventory depths exceeding two months, with Dongfeng Nissan, Dongfeng Honda, and FAW Hongqi facing the greatest pressure.

International standards consider an inventory coefficient of 0.8–1.2 reasonable, while anything above 1.5 enters warning territory. Although the current coefficient of 1.76 shows month-on-month improvement, it remains above the warning line, meaning the industry still faces notable inventory pressure.

The auto market is projected to maintain a mild recovery in April. New product launches at the Beijing Auto Show, potential early release of demand ahead of the Labor Day holiday, and sustained policy support should drive month-on-month sales growth. However, seasonal factors—such as the busy farming season in the north and Qingming Festival traditions in the south—could trigger short-term pullbacks in some regional markets.

The CADA suggests dealers should rationally estimate market demand and carefully manage inventory pace. It recommends promoting trade-in policies, boosting consumer confidence through service, and adhering to cost reduction and efficiency improvements to mitigate operational risks and ensure the smooth functioning of distribution channels.

Gasgoo Munich-PATEO Connect Technology (Shanghai) Corporation announced on April 14 that it has received a "Strategic M&A Support Letter of Intent" from Ping An Capital Co., Ltd. The firm plans to provide $1 billion in funding over the next five years to support PATEO's strategic M&A layout, offering assistance ranging from acquisition capital and joint buyouts to project consulting. This marks a new phase in their partnership, extending beyond equity investment and business synergy into industrial consolidation.

Image source: PATEO

Under the plan, Ping An Capital will join forces with industry players or other private equity funds over the next five years to pursue joint acquisitions with PATEO. The goal is to accelerate the company's industrial footprint and build a smart automotive ecosystem centered on AI technology, integrating software, hardware, chips, and the cloud.

Beyond acquisitions, the two parties will explore synergies in building the smart vehicle ecosystem. By pooling their resources and strengths, they aim to forge a deeper, long-term strategic partnership that drives mutual growth and shared value.

Since its Hong Kong listing in September 2025, PATEO has consistently delivered on market expectations. According to a report by CMB International, the company has secured nearly 15 billion yuan in new lifecycle orders since the fourth quarter of 2025. Its client roster now includes Korean automakers, Porsche, and leading Chinese new energy vehicle manufacturers.

In 2025, PATEO generated 3.51 billion yuan in revenue — a 37.26% jump from the previous year. Smart cockpit domain controller deliveries topped 1.3 million units, climbing more than 40%, while AI-related revenue approached 100 million yuan, surging nearly 210%.

OEM Dynamics | OEM Trend

• On April 14, Spanish Prime Minister Sánchez made a special visit to Xiaomi's Beijing tech park during his trip to China, with Xiaomi founder Lei Jun guiding the tour and detailing the automaker's lineup. Lei revealed that Sánchez paid particular attention to the range of pure electric vehicles, asking about the SU7, Ultra, and YU7 individually. According to reports, Sánchez test-rode both the SU7 and YU7, repeatedly praising their performance as "very good."

• Volkswagen Group released first-quarter delivery data for 2026 on April 14. Global deliveries reached 2.05 million units in the first quarter, down from 2.13 million in the same period of 2025 — a 4% year-on-year decline. Volkswagen emphasized that its global market share remained stable despite an overall downturn in the global auto market. In China, although deliveries slipped 14.8%, the group's overall market share edged up to 12.7% from 12.3%, marking a modest gain.

• Geely Holding Group reported first-quarter sales figures for 2026 on April 14. Total sales across all brands reached 937,900 units, a record high for the period. New-energy vehicle sales climbed 5.8% to 491,000 units, pushing the penetration rate to 52.4% — meaning one out of every two vehicles sold was a new-energy model.

• Nissan unveiled a transformation strategy on April 14, planning to slash its global model lineup from 56 to 38 — a roughly 20% reduction — and concentrate 80% of its sales volume on three core model families. Nissan aims to sell more than 1 million vehicles annually in both the U.S. and China markets by fiscal 2030. To achieve this, the company plans to launch more competitive new products.

• hery's Fengyun T9L, a mid-size plug-in hybrid SUV, officially launched on April 13 with five trim levels. The price range is 129,900–186,900 yuan, or 125,900–182,900 yuan after trade-in subsidies. Chery officials stated that the T9L secured over 15,658 orders within just three hours of going on sale, quickly emerging as a strong contender in the domestic mid-size PHEV SUV segment.

• According to the China National Intellectual Property Administration, Seres Automobile Co., Ltd. has been granted a utility model patent for a "Vehicle Toilet and Vehicle" (No. CN224104011U). Filed on April 22, 2025, and approved on April 10, 2026, the design addresses passenger needs during "long-distance travel or roadside emergencies." The mechanism consists of a toilet unit mounted on a rail system connected to the seat; it retracts beneath the seat when not in use, remaining invisible and space-efficient. It can be pulled out for emergencies and slid back afterward — a feature that could prove useful during highway traffic jams or long road trips.

• Ford CEO Jim Farley issued a warning about Chinese automakers entering the U.S. market. In an interview on "Fox & Friends" aired Monday local time, Farley stated that China's auto industry is formidable, adding that "China's capacity is sufficient to meet all of America's auto manufacturing needs and total vehicle sales." He added: "Given the economic implications, we should not allow them into our country. Manufacturing is the core and soul of America, and if we lose manufacturing to these imports, it will be devastating for the United States."

Supply Chain News

• GigaDevice recently partnered with Geely Auto to establish a joint innovation laboratory. The two companies aim to build a long-term strategic partnership focused on high-performance MCU applications, injecting new momentum into the intelligent development of China's auto industry. The lab will integrate resources from both firms to drive collaborative innovation across key areas, including body control, smart cockpits, autonomous driving, powertrains, and chassis systems.

• CATL recently announced a strategic partnership with SAIC-GM-Wuling (SGMW). The two sides will deepen cooperation around four key areas: industrial scaling, passenger-commercial compatible battery swapping, joint overseas expansion, and ecosystem collaboration. On the supply side, SGMW will select CATL as the core power battery supplier for its entire portfolio of more than 15 new-energy models. Additionally, the partners plan to jointly develop fast-charging technology capable of charging a battery from 10% to 80% in under 10 minutes.

Industrial Economy

• Hong Kong's Hang Seng Index rose 0.82% on April 14, while the Hang Seng Tech Index gained 0.62%. Semiconductor stocks rallied, with Axera jumping over 11% and GigaDevice climbing more than 9%. Shanghai Fudan rose nearly 5%. The non-ferrous metals sector also strengthened, with Tianqi Lithium up over 5%, Ganfeng Lithium gaining more than 3%, and CMOC and Aluminum Corp of China both up over 3%.

• The China Automobile Dealers Association released its March 2026 dealer inventory survey on April 14: The comprehensive inventory coefficient for March stood at 1.76, down 9.7% from the previous month but up 12.8% year-on-year.

• Data from Shanghai Customs shows that 386,000 vehicles were exported via Shanghai Waigaoqiao Port in the first quarter, up 15.9% from a year earlier, with new-energy vehicles accounting for 68.5% of the total. Meanwhile, the emerging Nan'gang Port handled 207,000 export vehicles in the same period — a 111% surge — including 138,000 new-energy vehicles, which soared 176%.

Executive Moves

• Marelli announced several executive appointments on April 14. Frederick “Fritz” Henderson has been appointed interim CEO, effective immediately. Henderson succeeds David Slump, who will remain a board member to ensure continuity during the company's Chapter 11 restructuring process. Separately, a steering committee of Marelli's lenders announced plans to name Laurent Favre as the next CEO following Henderson's interim tenure. Additionally, Marelli named Roberto Fioroni as CFO and Helen Redfern as Chief Human Resources Officer (CHRO), with both roles effective May 1, 2026.

• Zotye Auto announced on April 14 that its board has approved the appointment of Li Yan as vice president. The appointment is effective immediately and will run until the current board's term expires.

Gasgoo Munich-Geely Holding Group released first-quarter sales figures on April 14, 2026, with total group sales reaching 937,900 units—a record high for the period. New-energy vehicle sales climbed to 491,000, up 5.8% year-on-year, lifting the penetration rate to 52.4%. Against a backdrop where overall industry production and sales fell 6.9% and 5.6% respectively, Geely managed to defy the trend and expand its market share.

Yet the headline figures tell only part of the story. In 2026, as market structures shift and policy landscapes change, Geely’s choice of technology roadmap and its overseas strategy will be the key factors determining whether it can sustain this momentum.

Structural Growth Amid a NEV "Cold Snap"

Image Source: Geely Holding Group

Of Geely’s total of 937,900 units, the composition matters more than the aggregate. The domestic NEV market faced a distinct "cold snap" in the first quarter: sales of new-energy passenger vehicles dropped 26.7% to 1.822 million, with the penetration rate slipping from over 50% in Q4 2025 to 42%. Policy rollbacks—specifically the shift from a full exemption to a half exemption on purchase taxes and adjustments to trade-in subsidies—shifted much of the demand forward into late 2025. Geely, however, saw its NEV penetration climb to 52.4%, defying the trend and outperforming the broader market by more than 10 percentage points.

The battle for market share among top automakers is far from over. Geely Auto narrowly beat BYD in the first quarter, posting sales of 709,400 units against BYD’s 700,500. Chery Group sold 602,000 vehicles, with exports surging 53.9% to nearly 400,000 units. Changan Automobile, meanwhile, sold 557,200 units—a 20.94% year-on-year decline that highlights the pressure it faces in transitioning its power sources.

Image Source: Geely Holding Group

Breaking down Geely’s NEV sector, the Galaxy series sold 238,800 units, hitting the 2 million cumulative sales milestone in just 37 months. ZEEKR delivered 77,000 vehicles, an 86% jump from last year, strengthening its position in the premium NEV segment.

Notably, the domestic market experienced a sharp structural divergence: sales of A00-class mini EVs plummeted 68.5%, while B-segment and larger models grew 8.1%. With Galaxy and ZEEKR positioned in the mid-to-high-end market, Geely is well positioned to capture this structural tailwind.

Meanwhile, the domestic traditional fuel vehicle market continues to contract. Sales of internal combustion passenger cars fell by 565,000 units—a 20.5% drop. In this environment, Geely’s China Star series sold 311,800 units, effectively stabilizing the company’s fuel vehicle base and providing a buffer as it transitions to new energy.

Dual Variables: Tech Route Calibration and Overseas Markets

If first-quarter sales demonstrated Geely’s resilience amid industry turbulence, recent developments point to longer-term challenges: the active recalibration of its technology roadmap and the uncertainties surrounding global expansion.

Image Source: Geely Auto

On the technology front, Geely unveiled its "i-HEV Smart Engine Hybrid" system on April 13, claiming a thermal efficiency of 48.41% for its mass-produced engine and fuel consumption as low as 2.22 liters per 100 kilometers. This move comes against a shifting policy backdrop: starting in 2026, purchase tax exemptions were halved, and the pure-electric range threshold for PHEV incentives was raised to over 100 kilometers. These changes have significantly eroded the policy advantages for short-range plug-in hybrids.

At the same time, domestic fuel prices have kept climbing. April marked the sixth price hike of the year, pushing cumulative increases for gasoline and diesel past 2,460 yuan per ton. The combination of policy rollbacks and rising fuel costs has highlighted the economic appeal of HEVs—which use 30–40% less fuel than traditional cars without needing to be plugged in.

Image Source: Changan Automobile

Geely is not acting alone. Changan released its "Blue Whale" hybrid, Great Wall launched its "Super Smart Hybrid HEV" based on the Guiyuan platform, and GAC unveiled its "Xingyuan" dual-engine tech on April 12. Analysts suggest that domestic brands’ move toward HEVs is driven by both market demand and profitability: HEVs require only small batteries, costing far less than plug-in or pure electric models. With battery raw material prices remaining elevated, this preserves healthier profit margins.

In an interview following the launch, Geely Auto Group Vice President Li Chuanhai acknowledged that of the 96.47 million vehicles sold globally last year, internal combustion models still accounted for 76.5%. "There is still significant market space for fuel vehicles," he said.

On the international front, rapid export growth coexists with trade risks. Geely Auto exported 203,000 vehicles in the first quarter, up 126%, with NEVs accounting for 64% of the total. Across the industry, NEV exports jumped 1.2-fold to 954,000 units, with March alone setting a new record of 371,000 shipments.

Yet behind the export surge, the external trade environment is growing increasingly complex. The EU’s Carbon Border Adjustment Mechanism (CBAM) and trade barriers in parts of Southeast Asia pose potential threats to Chinese auto exports. However, after multiple rounds of talks, China and the EU agreed to a "price undertaking" mechanism as an alternative to anti-subsidy duties on pure electric vehicles. This means eligible Chinese automakers can avoid tariffs as high as 35.3% by submitting price undertaking applications.

Furthermore, the export model is shifting from simply shipping vehicles abroad to "deep localization." ZEEKR has entered over 50 countries and regions with more than 640 global stores, while Geely is pushing for localized production of the Xingyuan model in Southeast Asia. However, the global HEV market remains dominated by Japanese brands like Toyota and Honda, with Chinese automakers holding only about 17% market share. In this context, further expanding global reach through product and brand strength remains a long-term challenge for Geely.

Conclusion:

The first-quarter data shows Geely maintaining its growth momentum despite industry headwinds, supported by multi-brand synergy and rising NEV penetration. However, as policies retreat, oil prices stay high, and technology routes are recalibrated, two questions loom: Can the i-HEV system effectively capture the upgrade demand from the traditional fuel vehicle base? And can overseas expansion continue its rapid advance despite trade frictions? These will be the core variables determining whether this top automaker can maintain its lead.

Gasgoo Munich-China's used car market posted a clear rebound in March 2026. With the Lunar New Year holiday in the rearview mirror and dealers fully back at work, pent-up demand was unleashed, setting the market on a steady recovery path. Data from the China Automobile Dealers Association shows March transactions hit 1.79 million units — a 37.73% monthly jump and a 2.11% annual rise. Transaction value reached 117.87 billion yuan.

Image Source: China Automobile Dealers Association (same below)

Cumulative data for the first quarter tells a similar story. From January to March, used car transactions totaled 4.822 million units, up 4.66% year-on-year, adding 214,600 units compared to last year. Total transaction value came to 312.88 billion yuan. Overall, the market showed mild growth in Q1, with March's strong turnaround providing the momentum needed to offset the holiday slump. Compared to February, March offered a full slate of working days, faster inventory turnover, and a clear rebound in consumer willingness to buy and sell — driving a substantial lift in market activity.

Segment Divergence: MPVs and Commercial Vehicles Take the Lead

Performance varied significantly by segment in March. Sedans, the traditional mainstay, saw 968,400 units traded — up 38% month-over-month but down 3.45% annually. SUV volume reached 236,300, climbing 35.43% from February and 1.36% from last year. MPVs were the standout, with 127,300 units sold, a 38.49% monthly surge and a 12.06% annual gain. Cross-type passenger cars reached 43,600 units, up 37.52% month-over-month but slipping 3.22% year-on-year.

Commercial vehicles also posted notable gains. Bus transactions hit 107,200 units, up 36% month-over-month and 8.76% year-on-year. Truck volume reached 153,500, climbing 38.1% monthly and 6.64% annually. The year-on-year growth in commercial vehicles extends the positive momentum seen since the start of the year. This is directly linked to the normalization of logistics and transport operations post-holiday, as individual operators update their production tools.

Looking at Q1 cumulative data, passenger car transactions totaled 3.7125 million, up 0.88%. Within that, sedans reached 2.6159 million, down 1.17%, while SUVs climbed to 641,300, a 4.05% increase. MPVs surged to 339,000 units, up 12.8%, and cross-type passenger cars edged down to 116,300, a 0.14% decline. Commercial vehicles hit 700,300 units, a 12.21% jump, with trucks up 13.12% to 413,000 units and buses up 10.93% to 287,300 units.

MPVs and commercial vehicles were the primary drivers of growth in the first quarter. The rapid rise in MPVs reflects release replacement demand for both family and business use. As two- and three-child families grow, along with weekend travel needs, the practicality of MPVs is winning over more consumers — a shift reflected directly in used car figures. Commercial vehicle growth significantly outpaced passenger cars, indicating a stronger recovery in demand tied to production and operations. Small businesses and self-employed individuals are showing a renewed willingness to invest in tools of the trade. Meanwhile, the slight dip in sedan transactions suggests a structural adjustment: buyers are increasingly favoring functionality and space over traditional sedans.

In terms of vehicle age, models aged 3 to 6 years dominated the market in March, accounting for 43.13% of transactions. Nearly-new cars under three years old made up 29.88%, up 2.29 percentage points year-on-year. Vehicles aged 7 to 10 years comprised 16.28%, while those over 10 years accounted for 10.72%. The rise in nearly-new vehicles is directly linked to trade-in policy incentives, bringing higher-quality inventory into the market and lifting overall circulation standards. Still, the 3-to-6-year bracket commands nearly half the market, suggesting these vehicles offer the best balance between value and reliability — remaining the core trading range for now.

Nationwide Rebound: All Six Regions Rally, Cross-Border Trade Accelerates

Transaction volumes surged across all six major regions in March, signaling a broad-based recovery. Data from the China Automobile Dealers Association shows the Central-South region led the nation with 502,300 units, up 33.32%. The East followed with 499,200 units, posting the fastest growth at 43.76%. Shanghai saw its volume double, while Jiangsu and Fujian surged 52.3% and 42.4%, respectively. As the nation's economic engine, the East's volume and growth rate serve as a bellwether — and March's performance only solidified its leading position.

The North region posted the fastest growth among the six, with 276,900 units traded — a 46.73% monthly jump. Beijing also saw its volume double, completely reversing February's slump. Gains in Tianjin, Inner Mongolia, Shanxi, and Hebei ranged between 31% and 43%, highlighting a coordinated recovery in the Beijing-Tianjin-Hebei area. After February's seasonal lull, the northern market saw a strong release of demand, driven by both seasonal factors and aggressive post-holiday marketing and inventory acquisition by dealers.

The Southwest region recorded 246,300 units, up 27.90%, with Sichuan and Tibet posting impressive gains of 35.2% and 38.6%, respectively. The Northeast followed with 163,700 units, a 41.06% increase led by Heilongjiang's 45.4% surge. The Northwest reached 103,400 units, up 29.84%, with Qinghai jumping 42.4% and Gansu and Ningxia rising around 32%. All six regions posted positive growth, with most exceeding 25% — a rare feat in monthly data over the past two years, suggesting March's recovery has a solid foundation.

Cross-regional trade also picked up speed. The used car transfer rate climbed to 32.08% in March, up 1.41 percentage points month-over-month and 2.57% year-on-year. Total transferred volume reached 574,900 units, surging 44.04% monthly and 10.99% annually. The rising transfer rate indicates smoother cross-regional circulation and improving resource allocation efficiency in a unified national market. This helps balance supply and demand across regions, particularly as nearly-new vehicles flow from Tier 1 and Tier 2 cities to meet consumer needs in Tier 3, Tier 4, and rural markets.

Overall, March marked a broad-based recovery for China's used car market. Transaction volumes rebounded sharply month-over-month, with MPVs and commercial vehicles providing structural highlights. Regional markets rallied in sync, and cross-regional circulation accelerated. The March figures set a positive tone for the second quarter. As local consumption policies take effect and consumer acceptance of used cars continues to rise, the market is poised to maintain its steady momentum.

Gasgoo Munich-Geely Holding Group released its first-quarter sales figures for 2026 on April 14. Total group sales across all brands hit 937,900 units — the best performance on record for the period. New energy vehicle sales climbed to 491,000 units, a 5.8% year-on-year increase, pushing the penetration rate to 52.4%. In other words, one in every two cars sold is now a new energy model.

Image Source: Geely Holding Group

Operating 12 core brands — including Geely, Volvo, Lotus, and Proton — Geely Holding also made significant strides overseas. Exports jumped 126% year-on-year to 203,000 units in the first quarter, setting a new record, with new energy models making up 64% of the total.

Zooming in on specific brands, Geely Auto moved 709,400 units in the first quarter — another record high. Its new energy sales rose 9% to 369,100 units, achieving a 52% penetration rate. The China Star series contributed 311,800 units, shoring up the internal combustion engine base, while the Galaxy series moved 238,800 units, reaching a cumulative milestone of 2 million units in just 37 months. Premium brand Zeekr delivered 77,000 vehicles, an 86% surge, with its 9X model maintaining a lead in the 500,000-yuan premium MPV segment. Lynk & Co sales climbed 12% to 81,600 units. Meanwhile, Volvo Cars reported 153,000 first-quarter sales with a 47.3% new energy penetration rate, and Proton notched 49,000 units — its best first-quarter showing since 2004.

Separately, Geely Auto Group unveiled its next-generation AI hybrid technology — i-HEV — on April 13. Powered by Domain-wide AI 2.0, the system achieves a tested combined fuel consumption of 2.22 liters per 100 kilometers and a thermal efficiency of 48.41%, the highest among mass-produced engines globally. It also secured the industry's first Level 1 energy efficiency certification for a hybrid model. The technology enters production immediately and will debut this year in core models including the Xingrui, Xingyue L, the fourth-generation Boyue L, and the fifth-generation Emgrand. Pre-sales for the i-HEV versions of the Xingyue L and Xingrui open on April 19.