[China’s Automobile Production Reached 4.024 Million Units, January-February] On March 16, the National Bureau of Statistics (NBS) released the latest data showing that, by sector, from January to February, the value added of 35 out of 41 major industrial categories increased YoY. Among them, automobile manufacturing was up 3.4% YoY. By product, from January to February, the production of 397 out of 626 products by industrial enterprises above designated size increased YoY. Among them, automobile production was 4.024 million units, down 9.9%, of which NEV production was 1.604 million units, down 13.7%.

According to data released by the CPCA, retail sales in China’s passenger vehicle market totaled 1.034 million units in February, representing a 25.4 YoY decline. Specifically, in the passenger NEV market, retail sales reached 464,000 units, down 32 YoY.

The Chongqing Wencan NEV Parts Smart Manufacturing Project, located in Qingfeng Sci-Tech Innovation City in Shapingba District, was completed and is expected to enter the equipment commissioning stage in April this year. Two sets of the world’s largest 12000T die-casting machines will also be installed subsequently, helping the project achieve breakthroughs in capacity and technological upgrades. The project was invested in and built by Wencan Co., Ltd., with a total investment of about 800 million yuan, covering 128 mu and with a total gross floor area of about 69,000 m². It will create a smart factory integrating die-casting, machining, post-processing, and assembly processes, mainly producing lightweight integrated auto body structural parts and power system parts for NEVs.

According to data released by CAAM, China’s auto market showed the following trends in February: overall auto sales reached 1.805 million units, but fell 15.2% YoY from the same period last year. By segment, NEV sales were 765,000 units, also down 14.2% YoY. However, on the export side, auto exports reached 672,000 units in February, up 52.4% YoY.

CAAM: China’s NEV Sales Fell 14.2% YoY in February.

CAAM: China’s NEV sales fell 6.9% YoY from January to February.

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[SMM Flash] According to CAAM data, auto production and sales in February totaled 1.672 million units and 1.805 million units, down 31.7% and 23.1% MoM, and down 20.5% and 15.2% YoY, respectively. In January-February, auto production and sales totaled 4.122 million units and 4.152 million units, down 9.5% and 8.8% YoY, respectively. In February, NEV production and sales totaled 694,000 units and 765,200 units, down 21.8% and 14.2% YoY, respectively. In January-February, NEV production and sales totaled 1.735 million units and 1.71 million units, down 8.8% and 6.9% YoY, respectively, with NEV sales accounting for 41.2% of total new vehicle sales.

On March 5, Inner Mongolia issued its 15th Five-Year Plan, explicitly promoting autonomous driving in mining and logistics to lead the nation in self-driving heavy truck fleets. It supports Ordos' "Vehicle-Road-Cloud Integration" pilot and accelerates the large-scale application of new energy heavy trucks, unmanned electric mining trucks, and charging infrastructure.

Supported by a relatively large volume of orders taken last week and a full production schedule, the operating rate of the enamelled wire industry increased WoW this week (March 6–March 12).....