Excluding exports, domestic NEV sales in February totaled 395,000 units, down 9.8 percent year-on-year and down 37.2 percent from January.
China's February new energy vehicle (NEV) sales fell further from January due to the Lunar New Year holiday, according to data released today by the China Association of Automobile Manufacturers (CAAM).
China's February NEV sales were 477,000 units, down 9.2 percent year-on-year and down 34.6 percent from January, data released today by CAAM showed.
The CAAM's announcement of NEV sales is a car company's wholesale sales, which includes sales in China as well as those exported to overseas markets. NEVs include BEVs, PHEVs, and fuel-cell vehicles.
The end of the year is usually a high point for vehicle sales in China, while January and February are usually low points, especially the month of the Chinese New Year. February 10-17 was the 2024 Chinese New Year holiday, while last year the holiday was January 21-27, 2023.
BEV sales in February were 294,000 units, down 21.8 percent year-on-year and down 33.93 percent from January.
PHEV sales in February were 183,000 units, up 22.4 percent year-on-year but 35.56 percent lower than January.
Fuel cell vehicle sales in February were 200 units, up 370 percent from a year earlier.
China's all vehicle sales in February were 1,584,000 units, down 19.9 percent year-on-year and 35.1 percent lower than in January.
This means that NEV penetration was 30.1 percent in February, up from 29.9 percent in January and back above 30 percent.
Excluding exports, domestic NEV sales in February were 395,000 units, 9.8 percent lower year-on-year and 37.2 percent lower than in January.
In February, vehicle exports from China were 377,000 units, up 14.7 percent year-on-year but 14.9 percent lower than in January.
Of these, NEV exports were 82,000 units, down 5.9 percent year-on-year and down 18.5 percent from January.
China exported 66,000 units of BEVs in February, down 19.4 percent year-on-year and down 19.1 percent from January.
PHEV exports totaled 16,000 units in February, up 230 percent year-on-year but down 15.5 percent from January.
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