On May 13, BOCOM International issued a report highlighting the robust performance of the Chinese mainland auto market in April, particularly in the new energy vehicle (NEV) sector, which surpassed the industry's overall growth rate with a 51.5% penetration rate. Despite the modest new vehicle introductions at the Shanghai Auto Show and the high base effect in May, the bank anticipates a relatively stable growth trajectory for the auto market, alongside continued rapid growth in NEV exports. The report underscores the importance of monitoring BYD's advancements in intelligent driving technology and export performance, the delivery of Xpeng Motors' G7 and M03MAX models, and Geely Automobile's resource consolidation post-privatization of Zeekr. Regarding exports, while passenger vehicle exports have decelerated, NEV exports have surpassed expectations. BOCOM International attributes the slower fuel vehicle exports to a decline in sales in the Russian auto market and a reduction in domestic brands' market share therein.