China's passenger vehicle sales fell 20% in the first two months of this year, industry data showed on Wednesday, underscoring weak demand in the world's biggest auto market even as some car manufacturers offer reduced prices to revive demand.
Sales in February, 1.42 million units, were 10.4% higher than a year earlier, a low base period when a week-long Lunar New Year holiday reduced business activity, the China Passenger Car Association said.
Sales of new energy vehicles , which include pure battery electric cars and plug-in hybrids, grew faster than the overall market, up 61% in February on a year earlier. Last year the central government extended a tax exemption on such products, while local authorities rolled out incentives to encourage purchases.
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