In January to February 2024, global car sales reached 12.65 million units, with new energy vehicles accounting for 1.9 million units. Pure electric cars accounted for 9.8%, plug-in hybrids accounted for 5.2%, and hybrid vehicles accounted for 6.4%. Due to high base numbers and subsidy policy exits, the new energy passenger car market in Europe and the United States started weaker in 2024, gradually recovering in Europe and the United States. In China, new energy vehicle sales growth slowed down in February due to the Chinese New Year. However, Chinese new energy passenger cars still accounted for 62% of the global market and performed well. Chinese new energy vehicle exports are strong, particularly in Southeast Asian markets, demonstrating the strong industrial chain strength of China and driving growth in both domestic and international markets.
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