The industry remains cautiously optimistic. Post-election stability and continuity in the government are expected to boost infrastructure projects and economic activities.

Younger adults under 45 are more open to considering an EV purchase than those over 45.

This surge comes after a decline in March, highlighting a volatile yet optimistic trend in the automotive market.

Toyota’s sales in China tumbled 36% in February as the week-long Lunar New Year holiday took place during the month.

Analysts expect healthy sales momentum to continue given there are no new price hikes for at least three months.