Retail penetration of NEVs in China was 35.8 percent in February, up 2.9 percentage points from 32.8 percent in January.
Retail sales of new energy vehicles (NEVs) in China hit a one-year low last month, as the New Year holiday brought further disruption.
Retail sales of passenger NEVs in China totaled 388,000 units in February, a new low since February 2023, according to data released today by the China Passenger Car Association (CPCA).
That was 11.6 percent lower than the same month last year and 42.1 percent lower than January.
The figure was lower than the CPCA's preliminary figure of 401,000 units released earlier this month, and higher than the estimate of 380,000 units it released late last month.
In today's report, the CPCA revised January's NEV retail sales figure slightly upward to 671,000 units from the 668,000 units it posted last month.
Battery electric vehicles (BEVs) accounted for 57 percent of all NEV retail sales in February at 221,000 units. That was down 24.97 percent year-on-year and down 41.69 percent from January.
Plug-in hybrid vehicles (PHEVs) accounted for 167,000 units of retail sales in February, contributing 43 percent of all NEV retail sales. That was 15.54 percent higher year-on-year, but 42.81 percent lower than in January.
China's passenger vehicles, including sedans, SUVs and MPVs, saw retail sales of 1,095,000 units in February, down 21.16 percent year-on-year and down 46.18 percent from January.
China's NEV penetration at retail was 35.8 percent in February, up 3.8 percentage points from 32.0 percent a year earlier and up 2.9 percentage points from 32.8 percent in January, the CPCA said.
NEV penetration of local brands at retail in February was 55.3 percent, compared with 24 percent for luxury brands and 4.9 percent for mainstream joint venture brands, according to the CPCA.
China's wholesale sales of passenger NEVs in February were 447,000 units, down 9.7 percent year-on-year and down 35 percent from January, the CPCA said.
NEV penetration at wholesale was 34.5 percent in February, up 3.5 percentage points from 31 percent a year earlier and up 1.6 percentage points from 32.9 percent in January.
Penetration of local brands in February was 45.1 percent, compared to 37.1 percent for luxury brands and 7.1 percent for mainstream joint venture brands.
Passenger NEVs exported from China stood at 79,000 units in February, up 0.1 percent year-on-year but down 20.0 percent from January, contributing 26.4 percent of passenger car exports.
BEVs contributed 81.4 percent of February NEV exports, according to the CPCA.
Tesla sells 30,141 cars in China in Feb, down 24.4% from Jan
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