NEV market share rebounds to above 50% of domestic auto sales
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Domestic new energy vehicle (NEV) sales have made an unexpected comeback. ICYDK: Since the beginning of 2026, policymakers have reduced trade-in subsidies and increased the NEV purchase tax.
In response, January NEV sales fell 55% m/m, and 19% y/y – representing just 39% of auto sales, down from a ...