China Auto Sales Dip in February, But BYD’s Export Boom Stands Out

Manufacturers across China reported generally lower vehicle sales in February, largely influenced by the prolonged Spring Festival holiday and the renewed implementation of purchase taxes on new energy vehicles at the beginning of the year. Interestingly, one company’s overseas shipments surpassed its domestic sales for the first time.

One major automaker sold around 190,000 vehicles in February, reflecting a drop of over 40 percent compared to the previous year, according to the company based in Shenzhen. International sales exceeded 100,000 units, increasing by 41 percent from the same period last year, marking a significant milestone as those overseas deliveries overtook domestic sales for the first time.

Another manufacturer reported a total of 269,500 units sold in February, marking a 9 percent decrease from the previous year. Sales of new energy vehicles were 71,300, down 17 percent. Chery’s sales approached 160,770 units, representing an 11 percent decline year-over-year and a 20 percent drop compared to January. Exports hit nearly 124,930 units, growing 42 percent compared to last year, with a consistent trend of monthly exports exceeding 100,000 units for ten consecutive months.

Among emerging EV brands, Leapmotor delivered close to 28,070 vehicles in February, showing an 11 percent year-on-year increase but a 12 percent decline from January. Li Auto shipped over 26,420 vehicles, with less than 1 percent growth compared to last year and nearly a 5 percent decrease from January. Zeekr’s deliveries hit about 23,870 units, soaring 70 percent year-over-year, making it one of the few brands to see growth both annually and monthly.

Nio’s February shipments totaled roughly 20,800 vehicles, representing a 58 percent increase from last year but a 24 percent decrease from January. Xiaomi Auto delivered more than 20,000 units, plunging nearly 49 percent from the previous month. The company’s CEO mentioned that the decline was primarily due to a transition period for new products, with the upcoming next-generation SU7 model in development, and current deliveries focused on the YU7.

A high-end brand jointly launched by Huawei Technologies and Seres Group, reported combined sales of 58,000 units over January and February. January sales were about 40,000 units, while February deliveries fell below 20,000. Xpeng delivered nearly 15,260 vehicles, a 50 percent decrease compared to last year, placing it at the bottom among the main EV startups.

Looking ahead, more than five provinces, including Hunan, Qinghai, Henan, Fujian, and Jiangxi, have introduced detailed policies for vehicle trade-in subsidy schemes since February 10. New models such as the Leapmotor A10 and the upcoming 2026 Xpeng X9 electric version are expected to launch soon. Meanwhile, automakers are ramping up efforts with low-interest financing options and bundled purchase incentives, aiming to stimulate consumer demand.