Guotai Haitong: Passenger car sales rebound in March compared to February, optimistic about April sales performance.

Guotai Haitong released a research report stating that in terms of overall volume, the car market in March saw a month-on-month recovery, mainly due to the post-Chinese New Year warming period and the successive release of trade-in policies in various regions. In terms of structure, the March sales of BYD Company Limited, Geely, Lixiang, and Xiaopeng saw a significant year-on-year increase, benefiting from their strong new car cycle. In March, Lixiang B10, WENJIE M8, and the second-generation HAVAL XIAOLONG MAX were released, and their performance looked good based on the orders disclosed by the car companies themselves. With the approach of the Shanghai Auto Show in April and the successive release of new car models by car companies in March and April, the industry is optimistic about the performance of passenger car sales in April. Main points from Guotai Haitong: March passenger car sales reached 2.41 million units, up 37% month-on-month. According to data from the China Passenger Car Association, the wholesale sales of passenger cars in China reached 2.41 million units in March, up 10% year-on-year and 37% month-on-month. The wholesale sales of passenger cars in March reached 1.13 million units in Shanxi Guoxin Energy Corporation, up 40% year-on-year and 36% month-on-month. By brand: BYD Company Limited: March sales increased year-on-year, with impressive export performance. BYD Company Limited delivered 371,000 passenger cars in March, up 23% year-on-year and 17% month-on-month. Overseas sales reached 73,000 units in March, up 89% year-on-year and 9% month-on-month, setting a new historical high for monthly exports. Geely Auto: Significant results in the transformation to new energy vehicles. Geely Auto delivered 232,000 new cars in March, up 54% year-on-year and 13% month-on-month. Exported 37,000 new cars in March, up 1% year-on-year and 49% month-on-month. Great Wall Motor: March sales rebounded month-on-month, and the promotion of new energy vehicles steadily progressed. Great Wall Motor delivered a total of 98,000 new cars in March, down 2% year-on-year and up 26% month-on-month. Guangzhou Automobile Group: Sales increased month-on-month, with impressive performance of the Guangzhou Toyota Borui 3X orders. Guangzhou Automobile Group delivered 174,000 new cars in March, down 3% year-on-year and up 76% month-on-month. New forces: Li Xiang Automobile: March deliveries showed an increase year-on-year, with breakthroughs in the field of intelligence. Li Xiang Automobile delivered 37,000 new cars in March, up 27% year-on-year and 40% month-on-month. LEAPMOTOR: March deliveries increased by 154% year-on-year, ranking first among new forces. LEAPMOTOR delivered 37,000 new cars in March, up 154% year-on-year and 47% month-on-month. Xiaopeng Motors: Deliveries exceeded 30,000 for five consecutive months, with a strong new car cycle. Xiaopeng Motors delivered 33,000 new cars in March, up 268% year-on-year and 9% month-on-month, surpassing 30,000 units in deliveries for five consecutive months. Chongqing Sokon Industry Group Stock: Chongqing Sokon Industry Group Stock delivered a total of 24,000 new cars in March, down 34% year-on-year and up 15% month-on-month. Risk warning: New energy vehicle sales fall below expectations, and raw material prices rise sharply.