China Car Sales Plummet 21.5%, EV Share Surges

Car sales in China plummeted in April, with gasoline-powered vehicles taking the biggest hit due to soaring fuel costs. Despite a record share of electric and hybrid sales, the overall market slumped by 21.5%. Government subsidy cuts and taxes on new energy vehicles, along with economic uncertainty, contributed to the decline. Chinas oil reserves offer some buffer, but the sales chill is expected to persist. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/beef96111053bf19