February sales of pure electric passenger cars were 246,000 units, up 154.5 percent year-on-year, while sales of plug-in hybrids were 75,000 units, up 338.6 percent year-on-year.
China’s new energy vehicle (NEV) sales in February were 334,000 units, up 184.3 percent year-on-year, but down 22.6 percent from January, according to data released today by the China Association of Automobile Makers (CAAM).
February sales of new energy passenger vehicles were 321,000, up 182.2 percent year-on-year. Among them, pure electric vehicle sales were 246,000 units, up 154.5 percent year-on-year, and plug-in hybrid sales were 75,000 units, up 338.6 percent year-on-year.
It’s worth noting that the CAAM doesn’t specify, but as long as the cars produced by the car companies are sold to dealers, they can be counted as sales, so the figure is wholesale volume.
China’s NEV production in February was 368,000 units, up 197.5 percent year-on-year.
Exports of NEVs were 48,000 units in February, up 273.7 year-on-year and down 13.1 percent from January.
China’s sales of all vehicles in February were 1.737 million units, up 18.7 percent year-on-year and down 31.4 percent from January, the data showed.
Among them, passenger car sales were 1.487 million units, up 27.8 percent year-on-year and 32 percent less than in January.
Automakers are accelerating the pace of new product launches, and the Chinese auto market is expected to show steady growth in the first quarter, the CAAM said.
However, the industry is facing a more complex external environment due to the impact of the Russia-Ukraine conflict, while chip shortages and rising raw material costs are impacting production and operations, the CAAM noted.
“We remain cautiously optimistic about the future development of the industry, while advising companies to pay timely attention to changes in the internal and external situation,” the CAAM said.
China accounts for 53% of global passenger NEV sales in 2021, CPCA data show
