In February, domestic vehicle sales fell 10% year-on-year.

Affected by the Chinese New Year holiday, the domestic automobile production and sales in February all showed a year-on-year decline. China Automotive Industry Association (hereinafter referred to as "China Automobile Association") recently released the latest statistics show that in February, domestic auto production and sales were completed 1.706 million and 1.718 million, respectively, the chain fell 36.6% and 38.9%, respectively, down 20.8% year-on-year And 11.1%. From January to February, automobile production and sales completed 4.394 million vehicles and 4.527 million vehicles, respectively. The output decreased 2.8% year-on-year, and sales volume increased 1.7% year-on-year. It was lower than the 13.9 and 7.1 percentage points respectively in the same period of last year.

Assistant Secretary-General Chen Shihua of the China Automobile Association stated that in February, the automobile industry showed the following characteristics: the production and sales of automobiles were lower than the same period of last year, passenger car production and sales were lower than the same period, commercial vehicle sales volume showed a declining trend year-on-year, and new energy vehicles grew rapidly year-on-year. The market share of China's branded passenger vehicles has declined. The growth rate of the top ten companies is slightly higher than that of the industry, and the export of automobiles has grown at a relatively rapid rate.

According to statistics, in February, the production and sales of passenger cars in China completed 1.439 million vehicles and 1.476 million vehicles, respectively, a decrease of 38.2% and 39.9% from the previous quarter and a decrease of 22.1% and 9.6% year-on-year respectively. From January to February, the production and sales of passenger cars completed 3.77 million vehicles and 3.932 million vehicles, respectively, and their output decreased by 3.8% year-on-year, with sales volume up by 2.1% year-on-year.

It is worth mentioning that new energy vehicles continue to maintain rapid growth. In February, the production and sales of new energy vehicles were 39,230 and 34,420, respectively, an increase of 119.1% and 95.2% respectively. From January to February, new energy vehicles produced 81,855 vehicles and sold 74,667 vehicles, an increase of 225.5% and 200% year-on-year respectively. Among which, the production and sales of pure electric vehicles completed 56,706 vehicles and 50,253 vehicles, respectively, an increase of 168.4% and 164.3% respectively.

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