China's passenger car sales decline 17.4% YoY in Feb

SHANGHAI, Mar 11 (SMM) – Sales of passenger cars in China declined 17.4% year on year in February, to stand at 1.22 million units, the China Association of Automobile Manufacturers (CAAM) said on Monday March 11.

This followed after a year-on-year drop of 17.71% in passenger vehicle sales in January. 

In February, 1.48 million automobiles were sold across the nation, down 14.9% year on year. This compared with January’s decline of 15.8% on a yearly basis. 

New-energy vehicles (NEVs) continued its strong performance last month. CAAM data showed that China's sales of NEVs in February increased 53.6% from a year earlier, and this pulled up the sales in January-February by 98.9% from the same period in 2018.