AGP Executive Report
Last update: 10 minutes agoChina EV market economics: A new look at China’s new-energy boom shows NEV penetration hitting 61.4% while auto profit margins slide to just 2.9% in early 2026, raising concerns that scale is outpacing profitability. China sales momentum: BYD reported May sales of 383,453 vehicles, with overseas passenger and pickup sales up 80.7% year-on-year, while Geely posted May growth with NEVs at 56% of its mix. Battery swapping push: CATL’s EVOGO says it has 1,650 swap stations across 127 cities, aiming for 3,000+ by end-2026. Europe expansion: Spain’s Galicia will host SAIC’s first EV factory in Europe, a €200M project targeting 120,000 vehicles annually. US recall: Toyota is recalling 81,893 vehicles over instrument panel display failures, with software updates planned. Dealer/aftermarket growth: Express Oil Change & Tire Engineers opened new stores in Jacksonville and Havelock, North Carolina, with grand-opening promos. Market watch: Force Motors shares fell after May sales dropped 15.35% year-on-year.
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