China’s automobile production and sales declined in February

China’s automobile production and sales dropped in February amid the Lunar New Year holiday season, data released by China’s Association of Automobile Manufacturers shows. In February, automobile production reached 1.5mn units, while automobile sales stood at 1.45mn units, slightly lower than the production volume.

China’s automobile industry is one of the few industries that experienced rapid recovery after the economic shock due to the COVID-19 pandemic. Automobile production in February 2021 was higher than the same time month in 2019.

Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q1 2021 report.