The first two months of 2025 saw a slight decline in the number of domestically produced passenger vehicles (PVs) registered on the Chinese Mainland, according to data from the Gasgoo Auto Research Institute (“GARI”). In January, there was a significant downturn in registration figures, but February saw a sharp rebound with a 20.53% year-on-year increase in PV registrations.
New energy vehicles (NEVs) played a significant role in the market, accounting for 44.08% of all registered vehicles in the first two months. In February alone, NEV registrations reached 660,839 units, capturing a 50.58% market share. The post-holiday sales period showed strong performance, with improving macroeconomic conditions and stable consumer sentiment driving sales growth.
Chinese automakers, including BYD, Wuling, Geely, Changan, Chery, Galaxy, Li Auto, XPENG, Xiaomi, Haval, and JETOUR, dominated the top 20 brands by monthly registrations of locally-produced PVs. BYD reclaimed the top position in February, with 185,697 units registered. The company announced that all its models would be equipped with an advanced driver-assistance system, “God’s Eye,” driving increased market demand.
In the NEV sector, BEVs remained the dominant powertrain, accounting for 64.34% of all NEPV registrations in February. BYD led the rankings with over 300,000 units registered, followed by Galaxy, Wuling, Tesla, and XPENG. BEVs continued to outperform other powertrains, with PHEVs and REEVs also showing strong market presence.
On a model level, the Wuling Hongguang MINI EV was the top-selling NEPV model, with BYD models securing multiple spots in the top rankings. Xiaomi’s SU7 Ultra also performed well, climbing to the third position in February.
Chengdu led the city rankings with the highest number of NEPVs registered in February, followed by Shenzhen. Overall, 15 cities surpassed 20,000 units in cumulative NEPV registrations, with Chengdu leading the pack with over 40,000 units registered.
The automotive market in China continues to show resilience and growth, with NEVs playing a crucial role in driving sales and innovation. The post-holiday period saw a strong rebound in PV registrations, with Chinese automakers and NEV brands leading the market. As consumer preferences shift towards electric vehicles, the future looks promising for the Chinese automotive industry.
