China Passenger Car Association: From December 1 to 31, domestic passenger car manufacturers sold 1.57 million new energy vehicles wholesale, representing a 4% year-over-year increase but an 8% month-over-month decline.

Sales in China’s new energy passenger vehicle market are projected to grow by approximately 25% in 2025, successfully meeting the growth targets set for the new energy vehicle market under the 14th Five-Year Plan. As the year-end tax exemption policy for new energy vehicles expired, the automotive market entered a year-end buying spree in December; however, due to adjustments to the vehicle trade-in policy, market trends showed significant divergence. According to preliminary monthly estimates from the China Passenger Car Association (CPCA): From December 1 to 31, nationwide wholesale sales of new energy passenger vehicles by manufacturers totaled 1.57 million units, representing a 4% year-over-year increase but an 8% month-over-month decline. Cumulative wholesale sales of new energy passenger vehicles in 2025 reached 15.33 million units, a year-on-year increase of 25%. (China Passenger Car Association)