Smart and Sustainable Electric Mobility
In February, China's retail sales of all passenger vehicles totaled 1.092 million units, down 21 percent year-on-year and down 47 percent from January.
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February sales in China's auto market are expected to be the lowest of the year, the CPCA said.
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Retail sales of all passenger vehicles in China for the period February 1-25 were 861,000 units, down 25 percent year-on-year and down 43 percent from the same period last month.
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China's auto market saw seasonal weakness in February as the 2024 Lunar New Year holiday fell in mid-February, the CPCA noted.
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China's NEV sales declined significantly in the first three weeks of February, mainly due to the Chinese New Year holiday.
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The process of new manufacturers replacing old ones in the process of establishing a new market order will likely continue for several years until a new landscape is formed, said Cui Dongshu of the CPCA.
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Among the top 5, Tesla only produces BEVs, while the other automakers produce both BEVs and PHEVs.
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China's NEV penetration at retail was 32.8 percent in January, down 7.5 percentage points from 40.3 percent in December.
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This means that the penetration of passenger NEVs at retail was 32.8 percent in January, down from 40.2 percent in December.
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China's January wholesale sales of passenger NEVs are expected to be 700,000 units, up 80 percent year-on-year, but down 37 percent from December, the CPCA said.
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