China Auto

China's February passenger NEV production was 426,000 units, a decrease of 17.76 percent year-on-year and down 42.28 percent from January.

BEVs sold 221,000 units at retail in February, accounting for 57 percent of all NEV retail sales.

That was up 6 percentage points year-on-year and up 4.2 percentage points from January, implying that the automotive industry's inventory situation deteriorated from January.

China's January passenger NEV production was 734,000 units, up 83.50 percent year-on-year but down 33.33 percent from December.

BEVs accounted for 56.3 percent of all NEV retail sales in January with 376,000 units sold.

China's Vehicle Inventory Alert (VIA) Index stood at 59.9 percent in January, implying that auto sales are in contractionary territory and performing worse than in December.

The CPCA expects the inventory level to support retail sales for the next 67 days, up from 63 days at the end of November.

Local brands' share in December was lower than the 55.29 percent recorded in November and higher than the 48.79 percent recorded in the same month last year.

Retail sales in December were 1,101,944 units for sedans, 1,162,284 units for SUVs and 99,973 units for MPVs.

That's up from 12.86 percent in November and 12.06 percent a year earlier.