February NEV Production and Sales Dip YoY, Exports Surge

According to data from the China Association of Automobile Manufacturers, in February, production and sales of new energy vehicles (NEVs) reached 694,000 and 765,000 units respectively, down 21.8% and 14.2% year-on-year. Domestic sales totaled 483,000 units, while exports amounted to 282,000 units—down slightly by 6.6% month-on-month but surging 110% year-on-year. In the first two months of this year, cumulative NEV exports reached 583,000 units, also marking a 110% year-on-year increase. Overall, despite weak domestic market performance in February, NEV exports continued their robust growth, emerging as a key highlight for the industry.