Chinese EV makers’ February sales hit by holiday, cold snaps

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Sales of major Chinese electric vehicle makers including BYD and Geely fell by nearly half in February from a month prior, hit by the week-long Chinese New Year holiday and a prolonged cold snap, as well as ongoing economic uncertainty. Consolidation within the world’s biggest EV market is expected to accelerate as competition intensifies and growth slows. Details: BYD on March 1 reported its lowest sales since June 2022, with 122,311 vehicles sold last month, a 39.2% fall from January. New energy vehicle (NEV) sales of rival Geely, including battery EVs and plug-in hybrids, dropped 49% month-on-month to 33,508 units. and fell below 7,000 units, while February deliveries of and were down roughly half to 4,545 and 3,182 units respectively.