Global EditionASIA 中文双语Français
Home / Business / Motoring

China's NEV sales surge in February

Xinhua | Updated: 2023-03-13 10:11
Share - WeChat
The bZ3 electric sedan is displayed at FAW Toyota's NEV plant. [Photo provided to]

BEIJING - Sales of new energy vehicles (NEVs) in China surged in February this year amid the country's efforts to promote automobile consumption, data from an industry association showed.

Last month, the retail sales of China's new energy passenger cars expanded 61 percent year-on-year to 439,000 units, according to the China Passenger Car Association.

Data from the association also showed the retail sales of passenger cars in China rose 10.4 percent year-on-year to reach 1.39 million units in February.

The boom in China's NEV sector came as the world's second-largest economy rolled out a raft of policy incentives to spur the development of NEVs.

China has been implementing the purchase tax exemption policy since 2014 to shore up the development of the NEV sector. In September 2022, it extended the preferential tax policy to the end of 2023.

According to the China Association of Automobile Manufacturers, China's auto sales expanded 13.5 percent year-on-year to nearly 1.98 million units in February.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349