China’s new energy vehicles sales surge in February

This photo taken on Feb 24, 2023 shows a new energy supercar at GAC Aion, an NEV subsidiary of Guangzhou Automobile Group Co Ltd (GAC Group), in Guangzhou, south China's Guangdong province. (PHOTO / XINHUA)

BEIJING – Sales of new energy vehicles (NEVs) in China surged in February this year amid the country's efforts to promote automobile consumption, data from an industry association showed.

Last month, the retail sales of NEVs in China expanded 61 percent year-on-year to 439,000 units, according to the China Passenger Car Association.

China's NEV sales came in at about 6.89 million units in 2022, skyrocketing 93.4 percent year-on-year, according to the China Association of Automobile Manufacturers

Data from the association also showed the retail sales of passenger cars in China rose 10.4 percent year-on-year to reach 1.39 million units in February.

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China has been implementing the purchase tax exemption policy since 2014 to shore up the development of the NEV sector. In September 2022, it extended the preferential tax policy to the end of 2023.

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China's NEV sales came in at about 6.89 million units in 2022, skyrocketing 93.4 percent year-on-year, according to the China Association of Automobile Manufacturers.