According to data from the Passenger Car Association, automobile production and sales in February declined year-on-year due to the combined impact of multiple factors, including the Spring Festival holiday, meeting expectations. In terms of retail sales, Geely Auto (00175) captured a market share of 14.1%, selling a total of 145,281 vehicles and ranking first. BYD (002594.SZ) and FAW-Volkswagen followed, securing the second and third positions with market shares of 8.6% and 7.6%, respectively. Statistics from the association show that retail sales of passenger vehicles in the domestic market reached 1.034 million units in February, a decrease of 25.4% compared to the same period last year and a 33.1% drop from the previous month. Cumulative sales from January to February totaled 2.578 million units, down 18.9% year-on-year. Analysis for February indicates that the extended Spring Festival holiday this year affected business operations and overall market activity. The decline in production and sales during the first two months, influenced by multiple overlapping factors, is considered a normal, short-term fluctuation within expectations and does not reflect the long-term market trend. With the full implementation of local subsidy policies after the holiday, the launch of promotions at spring auto shows, and the release of new models by automakers, these factors are expected to stimulate vitality in the auto market and support the industry's healthy and stable operation.
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