11:49 Apr 10 2026

China’s retail sales of new energy passenger vehicles plunged 21% to 1.9 million units in the first quarter of the year from a year earlier, as they dropped 14% to 848,000 units year-on-year in March, data from the CPCA showed yesterday. China reduced the purchase tax break for NEVs to 5 percent from 10 percent from Jan. 1.

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