Deals drop 19.5% from the year before to 1.4 million vehicles, the biggest decline since February 2024 Read more at The Business Times.

cross-posted from: https://lemmy.sdf.org/post/50733072

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China’s car sales in January fell at the fastest pace in nearly two years. This comes as the competition steepens in the cut-throat market, where automakers are grappling with fading government subsidies, softening demand and tighter regulations.

The sales at home dropped 19.5 per cent from the year before to 1.4 million vehicles, the biggest fall since February 2024, data from the China Association of Automobile Manufacturers showed on Wednesday (Feb 11).

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The retail sales of electric cars and plug-in hybrids, a sector known as new energy vehicles (NEV), fell 22.9 per cent in January. It had previously been outpacing the overall market.

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Subsidised auto trade-ins exceeded 11.5 million vehicles in 2025, accounting for nearly half the total vehicle sales, official data showed.

Chinese electric vehicle (EV) champion BYD’s sales were hit particularly hard in January, falling 30 per cent, which is higher than the industry average.

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