China Association of Automobile Manufacturers: The domestic sales of new energy vehicles in January and February were 1.025 million vehicles, a year-on-year increase of 34.3%.

According to data released by the China Association of Automobile Manufacturers, in February, the domestic sales of new energy vehicles totaled 395,000 units, a decrease of 37.2% compared to the previous month and a 9.8% decrease year-on-year; while the export of new energy vehicles reached 82,000 units, a decrease of 18.5% compared to the previous month and a 5.9% decrease year-on-year. From January to February, the domestic sales of new energy vehicles totaled 1.025 million units, an increase of 34.3% year-on-year; and the export of new energy vehicles reached 182,000 units, an increase of 7.5% year-on-year. The data also shows that from January to February, the production and sales of automobiles reached 3.919 million units and 4.026 million units respectively, with year-on-year increases of 8.1% and 11.1%. In February, the production and sales of automobiles were 1.506 million units and 1.584 million units respectively, with month-on-month decreases of 37.5% and 35.1% and year-on-year decreases of 25.9% and 19.9%. According to the analysis by the China Association of Automobile Manufacturers, February experienced the complete Chinese New Year holiday, with a reduction in effective working days and the manufacturing industry being in a traditional slow season, leading to certain impacts on the production and operation of enterprises, and a general decrease in market activity. Looking at the trend, the overall expansion trend of the Chinese economy continues, with relatively stable expectations for enterprises. In terms of automobile production and sales, some pent-up demand for car purchases was released before the Chinese New Year, leading to a slight decrease in overall automobile production and sales compared to January. In terms of operation from January to February, passenger cars and commercial vehicles continued to operate steadily, with new energy vehicles and automobile exports maintaining good performance.