China auto giant BYD says it sold 193,655 new-energy vehicles in February – a jump of 119% from a year earlier – amid a broader rebound in the national auto market, according to Yicai Global, which said the Shenzhen-based carmaker achieved the top NEV sales for the 21st month in a row.
Retail sales of passenger vehicles reached 1.35 million units in February, up 7.2% from a year earlier and 4.3% on January, after the lunar new year holiday finished, the China Passenger Car Association said, noting that new local purchase subsidies and NEV price changes were having an impact as it “exempts NEV buyers from paying vehicle purchase tax” and will remain this year, according to China’s deputy minister for finance Xu Hongcai.
Read the full report: Yicai Global.
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