China Passenger Car Association: It is expected that the wholesale sales of Shanxi Guoxin Energy Corporation's passenger car manufacturers in February will be 450,000 units, a year-on-year decrease of 9%.

On March 4th, according to the China Association of Automobile Manufacturers, there were 18 working days in February this year, which is 2 days less than the 20 working days in February 2023. Due to the impact of factors such as the lighter car consumption before and after the Spring Festival holiday, most car companies will take additional days off for the New Year before and after the Spring Festival. Therefore, the effective production and sales time in February this year is very short, and it is expected that the car market sales in February will be at an absolute low point for the year. The China Association of Automobile Manufacturers estimates that the wholesale sales of passenger cars by all manufacturers in February will be 450,000 units, a decrease of 9% compared to the same period last year, and a decrease of 34% from the previous month. The overall operation of the passenger car market is relatively good. By the end of November 2023, the total inventory of pure new energy car companies was 400,000 units, which decreased to 390,000 units in December and further decreased to 370,000 units in January. The inventory in the new energy distribution channels has significantly decreased, and the industry inventory is generally healthy. The recent impact of rain, snow, and freezing weather in the Yangtze River Basin has temporarily affected consumer confidence in the purchase of electric vehicles due to the shortcomings in energy replenishment and range. Due to significant market price fluctuations, there is a strong wait-and-see attitude among manufacturers and dealers in mid-February, leading to relatively steady but weak sales performance. The market advantage of leading companies in the new energy sector has continued to expand, and market differentiation has intensified. In January 2024, according to the China Association of Automobile Manufacturers, the wholesale sales of manufacturers with monthly new energy sales of over 10,000 units accounted for 90.7% of the total new energy passenger car sales for the month. These companies are estimated to have a total sales of 410,000 units in February, and based on the same proportion, the total sales of the new energy passenger cars by all manufacturers in February is estimated to be 450,000 units.