Wk 19 Electronics Supply Chain Digest

Electronics Supply Chain Weekly Digest 5-10-24.

DATAPOINT OF THE WEEK: Passenger car retail sales in China totaled 1.53M in April, down 7% Y/Y and down 9% M/M and below the preliminary estimates of 1.59M units, according to China Passenger Car Association (CPCA).

Aside from Feb when sales declined Y/Y due to CNY, April marks the first Y/Y decline in retail sales since July-23 with total volume being the 2nd lowest for the month over the last 4 years.

NEV retail sales totaled 674K units, below last week’s preliminary estimates of 706k and 720k estimate from two weeks ago. NEV increased 28% Y/Y with BEV up 12% Y/Y and PHEV up 64% Y/Y. NEV penetration increased to 44% in April from 42% in March. Total exports increased 2% M/M while NEV exports dropped 4% M/M to 115k units.

Since the beginning of the year, China’s auto market has seen a wave of price cuts on new products and a strong wait-and-see sentiment among consumers. Market sluggishness was worse than expected, while some automakers still strived to keep producing, resulting in rising inventories at dealerships, the CPCA said.






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