China Produced 2.03 Million Units of Automobiles in Feb

SHANGHAI, Mar 21 (SMM) - China produced 2.03 million units of automobiles in February, down 27.5% on the month but up 11.9% on the year. 1.98 million units of automobiles were sold in February, down 19.8% month on month but up 13.5% year on year. In January-February, automobile production and sales stood at 3.626 million units and 3.625 million units respectively, down 14.5% and 15.2% year-on-year. China produced 552,000 units of new energy vehicles in January, up 30% on the month and 48.8% on the year. 525,000 units of automobiles were sold in the same month, up 28.7% MoM and 55.9% YoY, with a market penetration rate of 26.6%.  The output and sales of NEVs in January- February stood at 977,000 units and 933,000 units respectively, an increase of 18.1% and 20.8% year-on-year respectively, with a market penetration rate of 25.7%.