China Auto Sales Drop 15% as Subsidy End Deepens Holiday Slump

China’s vehicle deliveries fell 15% in February, as the phasing out of government subsidies worsened the usual Lunar New Year holiday slump.

Vehicle wholesales dropped to about 1.8 million units last month, data from the China Association of Automobile Manufacturers released Wednesday showed. Deliveries of electric cars and plug-in hybrids fell 14% to about 765,000 units, a further sign that demand for new-energy cars is cooling.