February Auto Output and Sales Dip; NEV Sales Fall, Exports Surge 52.4%

Affected by the extended Lunar New Year holiday, China's auto production and sales in February reached 1.672 million and 1.805 million units, respectively, marking significant month-on-month and year-on-year declines. For the first two months of the year, cumulative production and sales totaled 4.122 million and 4.152 million units, down 9.5% and 8.8% year-on-year, respectively. Passenger vehicle and new energy vehicle (NEV) sales both declined year-on-year, while commercial vehicles showed resilience and auto exports surged strongly. In February, vehicle exports hit 672,000 units, up 52.4% year-on-year; for January–February combined, exports reached 1.352 million units, a 48.4% year-on-year increase. Domestic sales in February amounted to only 1.133 million units, down 32.9% year-on-year. Chinese-brand passenger vehicles captured a 70.2% market share in February, slightly lower than the same period last year.