China's leading new energy vehicle (NEV) manufacturer BYD saw its NEV sales tumble in February, company data showed.
The company sold 2,803 NEVs in February, compared with 14,429 last year, BYD said in a statement.
The firm sold 2,698 gasoline-powered vehicles last month, shrinking from 12,404 in the same period last year. In total, BYD sold 5,501 vehicles, down from 26,833.
Sales of NEVs in China have been trending down amid weak automobile demand, scaled-back subsidies and fiercer competition from gasoline-powered vehicles.
China will roll out more policies to stabilize the consumption of automobiles to mitigate the impact of the epidemic outbreak on the auto market, said an official with the Ministry of Commerce.
All localities are encouraged to beef up efforts to promote the consumption of new energy vehicles, ease vehicle purchase restrictions and carry out automobile replacement, said the ministry.
Editor:Cherie
