In February, China's automobile production and sales increased steadily year-on-year Production and sales of new energy vehicles maintained rapid growth

A few days ago, the Ministry of Industry and Information Technology released the economic operation of
the automobile industry in February 2022.
In February 2022, China's automobile production and sales maintained a stable year-on-year growth; The production and sales of new energy vehicles continued to maintain rapid growth, with a market penetration rate of 17.
9%
from January to February.

1.
February vehicle sales up 18.
7% y/y

In February, vehicle production totaled 1.
813 million units, down 25.
2% m/m, and sales totaled 1.
737 million units, down 31.
4% m/m, and up 20.
6% y/y, up 18.
7%
y/y.

From January to February, vehicle production totaled 4.
235 million units, up 8.
8% y/y, and sales totaled 4.
268 million units, up 7.
4 percentage points y/y, up 6.
6 percentage points
from January.

(1) February passenger car sales up 27.
8% y/y

In February, passenger car production totaled 1.
534 million units, up 32.
0% y/y, and sales totaled 1.
487 million units, up 27.
8%
y/y.
By vehicle type, sedan production and sales totaled 704,000 units and 687,000 units, up 29.
6% y/y and 28.
4% y/y, respectively.
SUV production totaled 756,000 units, up 36.
6% y/y, and sales totaled 734,000 units, up 29.
6% y/y.
MPV production totaled 49,000 units, down 1.
0% y/y, and sales totaled 52,000 units, up 12.
9% y/y.
Production of crossover passenger cars totaled 26,000 units, up 54.
6% y/y, and sales totaled 15,000 units, down 9.
5%
y/y.

From January to February, passenger car production totaled 3.
612 million units, up 17.
6% y/y, and sales totaled 3.
674 million units, up 14.
4%
y/y.
By vehicle type, sedan production totaled 1.
666 million units, up 15.
8% y/y, and sales totaled 1.
705 million units, up 12.
8% y/y.
SUV production totaled 1.
762 million units, up 20.
7% y/y, and sales totaled 1.
790 million units, up 16.
4% y/y.
MPV production totaled 126,000 units, down 4.
9% y/y, and sales totaled 133,000 units, up 3.
8% y/y.
Production and sales of crossover passenger cars totaled 57,000 units, up 39.
5% y/y, and sales totaled 45,000 units, up 35.
2%
y/y.

In February, Chinese brand passenger cars sold a total of 634,000 units, up 27.
9% y/y, accounting for 42.
6% of total passenger car sales, and its market share was basically the same
as the same period last year.

From January to February, the cumulative sales of Chinese brand passenger cars reached 1.
637 million units, a year-on-year increase of 20.
3%, accounting for 44.
6% of the total passenger car sales, and its market share increased by 2.
2 percentage points
year-on-year.
Among them, car sales were 583,000 units, a year-on-year increase of 45.
2%, with a market share of 34.
2%; SUV sales were 942,000 units, up 11.
7% y/y, with a market share of 52.
6%.
MPV sales were 67,000 units, down 18.
5% y/y, with a market share of 50.
3%.

2.
February commercial vehicle sales down 16.
6% y/y

In February, commercial vehicle production totaled 279,000 units, down 18.
3% y/y, and sales totaled 250,000 units, down 16.
6%
y/y.
In terms of vehicle type, truck production totaled 254,000 units, down 19.
4% y/y, and sales totaled 227,000 units, down 17.
8% y/y.
Bus production totaled 25,000 units, down 5.
3% y/y, and sales totaled 23,000 units, down 3.
6%
y/y.

From January to February, commercial vehicle production totaled 624,000 units, down 24.
0% y/y, and sales totaled 594,000 units, down 21.
7%
y/y.
In terms of vehicle type, truck production totaled 570,000 units, down 25.
0% y/y, and sales totaled 540,000 units, down 22.
7% y/y.
Bus production totaled 54,000 units, down 10.
8% y/y, and sales totaled 10.
9%
y/y.

2.
New energy vehicle sales in February increased by 1.
8 times year-on-year

In February, NEV production totaled 368,000 units, up 2.
0 times y/y, and sales totaled 334,000 units, up 1.
8 times y/y, with a market penetration rate of 19.
2%.

By vehicle type, the production and sales of pure electric vehicles reached 285,000 units and 258,000 units, up 1.
7 times and 1.
6 times y/y, respectively; the production and sales of plug-in hybrid vehicles reached 83,000 units and 75,000 units, up 4.
1 times and 3.
4 times y/y, respectively; and the production and sales of fuel cell vehicles reached 213 units and 178 units, respectively, up 7.
5 times and 5.
4 times
y/y.

From January to February, NEV production and sales totaled 820,000 units, up 1.
6 times y/y, and sales totaled 765,000 units, respectively, with a market penetration rate of 17.
9%.

By model, the production and sales of pure electric vehicles reached 652,000 units and 604,000 units, respectively, an increase of 1.
4 times y/y; the production and sales of plug-in hybrid vehicles reached 168,000 units and 160,000 units, respectively, an increase of 2.
8 times and 2.
5 times y/y; and the production and sales of fuel cell vehicles reached 356 units and 371 units, respectively, an increase of 5.
0 times and 3.
1 times
y/y.

3.
Vehicle exports in February up 60.
8% y/y

Vehicle exports in February reached 180,000 units, up 60.
8%
y/y.
By vehicle type, passenger car exports reached 146,000 units, up 72.
3% y/y.
Commercial vehicle exports were 34,000 units, up 25.
4%
y/y.
Exports of new energy vehicles reached 48,000 units, a year-on-year increase of 2.
7 times
.

From January to February, vehicle exports were 412,000 units, up 75.
0%
y/y.
By vehicle type, passenger car exports totaled 331,000 units, up 84.
0% y/y.
Commercial vehicle exports were 81,000 units, up 45.
7%
y/y.
Exports of new energy vehicles reached 104,000 units, a y/y increase of 3.
8 times
.