Beijing (Gasgoo)- In January 2025, China's new energy passenger vehicle (NEPV) market demonstrated robust growth, with production reaching 940,000 units—a 25.8% year-over-year increase, though a 35.1% decline from December, according to data from the China Passenger Car Association.
For clarity, the NEPVs hereby refer to the passenger vehicles locally produced and registered on the Chinese Mainland.
The country's NEPV wholesales totaled 889,000 units in January, marking a 27.1% jump from the year-ago period but a 41.2% plunge compared to December 2024. The wholesale penetration rate for NEPVs reached 42.3% in the past month, up 9 percentage points year-on-year.
Specifically, NEPVs accounted for 54% of the wholesale volume for China's indigenous brands, 34% for luxury brands, and only 2% for mainstream joint-venture brands.
In the past month, a total of 22 passenger vehicle models achieved wholesales exceeding 20,000 units. The BYD Song (83,824 units), Seagull (41,212 units), Tesla Model Y (32,233 units), and Model 3 (31,005 units), cracked the top five rankings.
China's retail sales of NEPVs stood at 744,000 units in January, up 10.5% from the same period last year, yet down 42.9% from the previous month. NEPVs nabbed 41.5% share of the country's passenger vehicle retail market in the past month, up 9 percentage points from the previous year.
To be specific, NEPVs captured 60.6% of the retail market for China's self-owned brands, 20% for premium brands, and 3% for joint-venture brands.
In the first month of 2025, automakers in China shipped a total of 139,000 NEPVs to overseas markets, indicating a 29.4% year-on-year jump and a 13.9% rise from December last year.
