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China's February auto sales slide due to holidays; Iran war casts pall over exports
- On March 11, CAAM data showed China’s overall passenger car sales including exports fell 15.4% year-on-year, while exports surged 58% to help offset domestic weakness.
- Fewer business days in February for Lunar New Year combined with the end of an EV tax break and lower trade-in subsidies, impacting sales.
- Inventory data shows unsold cars of 1.4 million at the end of January, while domestic passenger car sales plunged about 34% to 950,000 units in February.
- To offset weak domestic sales, carmakers are expanding shipments overseas amid elevated inventories and a prolonged price war.
- Over January and February combined, data show that the Middle East accounted for around a fifth of China's vehicle exports as exports climbed 54%.
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Ottumwa CourierReposted by 
Rocky Mountain Outlook
Rocky Mountain OutlookChina's auto sales sink in February as phase out of subsidies for trade-ins hits demand
China has reported that passenger car sales plunged 34% in February from a year earlier. The China Association of Automobile Manufacturers said 950,000 cars were sold, down from nearly 1.4 million vehicles sold in January. Overall passenger car sales including…
Coverage Details
Total News Sources19
Leaning Left7Leaning Right1Center4Last UpdatedBias Distribution59% Left
Bias Distribution
- 59% of the sources lean Left
59% Left
L 59%
C 33%
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