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China's new energy vehicle sales up 55.9 pct in February 2023/3/17 source: Print

China's sales of new energy vehicles sustained a rapid pace of growth in February, surging 55.9 percent year on year to 525,000 units last month, the data from the China Association of Automobile Manufacturers showed Friday.

According to the data, China's auto sales expanded 13.5 percent year on year to nearly 1.98 million units in February. And the sales of passenger vehicles in the same month went up 10.9 percent to over 1.65 million units.

Many new energy vehicle dealers said their business is getting better.

"Our total sales in February exceeded 193,000 units, up 112.6 percent year on year, showing that the market acceptance of new energy vehicles is getting higher and higher," said Chen Xi, an auto dealer.

Due to the low cost and the extension of tax exemption policy, many customers still take new energy vehicle as their first choice this year.

"On the one hand, new energy vehicle is cheaper in fuel cost. On the other, policies like tax exemption for new energy vehicle purchases can help me save money," said Huang, a customer.

He Xiaoqin, a sales agent of an auto shop in Wuhan City of central China's Hubei Province, said that after the local government launched preferential policies for new energy vehicles, there have been more visits by prospective buyers. "I sold 15 vehicles the day before yesterday and 10 yesterday. I assume that I can also sell 10 today," said He.

And customers said they are attracted by big discounts of new energy vehicles.

"I used to drive my old car and had never considered buying a new one. But there is a big discount for the new vehicles, so I’m here to take a look. It’s a good opportunity to buy one," said Li, a customer.

"As of Today (March 9), our orders went up by about 300 percent both year on year and month on month," said Guo Cong, a manager of an auto shop.

Chen Shihua, deputy secretary general of the China Association of Automobile Manufacturers, said the preferential policies should continue to sustain the steady growth.

"A moderate price cut could stimulate consumer demand. Enterprises should take a long-term perspective and launch products that meet the trend of industrial development for healthy market competition, and make more efforts in technology, product quality, service and brand promotion," said Chen.


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