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CPCA: Xiaomi Auto & Other Brands Drive New Force Car Makers' Mkt Shr Growth in Feb
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The retail penetration rate of new energy vehicles (NEVs) in China reached 49.5% in February, marking a rise of 15 ppts compared to the same period last year, according to the China Passenger Car Association (CPCA). Among them, the penetration rate of NEVs was 70% in independent brands, 23% in luxury cars, and only 4% in mainstream joint venture brands. Retail market share data also showed that the retail market share of mainstream independent brand NEVs in China came in at 73% in February, up 4.4 ppts YoY, while the market share of joint venture brand NEVs was 2.1%, down 1.9 ppts YoY. The market share of new force car makers touched 19.9% as brands like Xiaomi Auto under XIAOMI-W (01810.HK) led the market shares of these car makers to grow by 2.6 ppts YoY. Meanwhile, Tesla (TSLA.US)'s market share eroded by 4 ppts YoY to 3.9%. In terms of retail sales rankings for passenger cars in China in February, BYD COMPANY (01211.HK)(002594.SZ) ranked first with sales reaching 205,711 vehicles, followed by GEELY AUTO (00175.HK) with sales of 93,309 vehicles. AAStocks Financial News |
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