CAAM Reports 21% Year-on-Year Decrease in Retail Sales of Passenger Vehicles in February

CAAM: Retail sales of passenger vehicles in February totaled 1.092 million, a year-on-year decrease of 21%. According to preliminary statistics from CAAM, from February 1st to 29th, the retail sales of passenger vehicles were 1.092 million, a year-on-year decrease of 21% and a month-on-month decrease of 47%. The cumulative retail sales this year reached 3.126 million, a year-on-year increase of 17% compared to last year. From February 1st to 29th, the national passenger vehicle manufacturers wholesaled 1.256 million vehicles, a year-on-year decrease of 22% and a month-on-month decrease of 40%. The cumulative wholesale this year reached 3.344 million vehicles, a year-on-year increase of 9%.

From February 1st to 29th, the retail sales of new energy vehicles were 401,000, a year-on-year decrease of 9% and a month-on-month decrease of 41%. The cumulative retail sales this year reached 1.069 million, a year-on-year increase of 39%. From February 1st to 29th, the national passenger vehicle manufacturers wholesaled 441,000 new energy vehicles, a year-on-year decrease of 11% and a month-on-month decrease of 37%. The cumulative wholesale this year reached 1.123 million vehicles, a year-on-year increase of 27%.