On March 11th, the China Association of Automobile Manufacturers released the latest production and sales data. Data shows that in February 2026, China's auto production and sales reached 1.672 million and 1.805 million units respectively. Compared with the previous month, they decreased by 31.7% and 23.1% respectively, and compared with the same period last year, they decreased by 20.5% and 15.2% respectively. In January and February, the production and sales of automobiles reached 4.122 million and 4.152 million units respectively, down 9.5% and 8.8% year-on-year.

From the industry operation situation in January-February, the production and sales of automobiles were affected by multiple factors such as policy switching and adjustment, the early release of demand, the misalignment of the Spring Festival holiday, insufficient consumer willingness, and the high base of the same period, showing a year-on-year decline. By category, the production and sales of passenger vehicles in February were 1.4 million and 1.536 million units respectively. Compared with the previous month, they decreased by 32.1% and 22.7% respectively, and compared with the same period last year, they decreased by 21.6% and 15.4% respectively. In January and February, the cumulative production and sales reached 3.462 million and 3.524 million units respectively, down 12% and 10.7% year-on-year. It should be noted that among traditional fuel passenger vehicles, the A-class models, which have the most concentrated sales, achieved A cumulative sales volume of 1.079 million units in January-February, a year-on-year decrease of 8.4%. In contrast, the sales of new energy passenger vehicles from A00 to A classes have all declined to varying degrees. Currently, the sales are mainly concentrated in B classes, with a cumulative sales volume of 506,000 units, representing a year-on-year growth of 9.4%. This indicates that consumers in the new energy sector are more inclined towards mid-to-high-end, long-range and intelligent products, and the market structure is upgrading from "policy-driven" to "product power-driven".

In February, the production and sales of commercial vehicles reached 273,000 and 269,000 units respectively. Compared with the previous month, they decreased by 29.7% and 24.9% respectively, and compared with the same period last year, they decreased by 14.1% and 14% respectively. Among them, the sales volume of natural gas commercial vehicles was 13,000 units, a month-on-month decrease of 42.6% and a year-on-year decrease of 41.1%. In January and February, the production and sales of commercial vehicles reached 660,000 and 627,000 units respectively, increasing by 7% and 3.9% year-on-year. Among them, the sales of natural gas commercial vehicles were 36,000 units, a year-on-year decrease of 0.3%. Focusing on the new energy vehicle market, in February, the production and sales of this market reached 694,000 and 765,000 units respectively, down 21.8% and 14.2% year-on-year. The sales of new energy vehicles accounted for 42.4% of the total sales of new vehicles. In January and February, the production and sales of new energy vehicles reached 1.735 million and 1.71 million units respectively, down 8.8% and 6.9% year-on-year. The sales of new energy vehicles accounted for 41.2% of the total sales of new vehicles.