China Passenger Car Association: China's new energy vehicle sales are expected to exceed 15.65 million units in 2025, a year-on-year increase of 28%

This data shows that in 2025, new energy vehicles will account for as much as 66.8% of the market. In other words, 2 out of every 3 cars sold will be new energy vehicles.

The China Passenger Car Association further analyzed that the sales volume of passenger car manufacturers nationwide will be 12.23 million units in 2024. The decline in the price of new energy vehicles, coupled with the promotion of the national scrapping and renewal and old-for-new policies, as well as the subsidy policy of 5,000 yuan higher for new energy vehicles than for fuel vehicles, have jointly contributed to the replacement effect of fuel vehicles exceeding expectations.

Regarding the forecast for new energy passenger vehicles in 2025, the China Passenger Car Association maintained the level at 15.63 million units in January, and raised it to 15.65 million units in February, an increase of 20,000 units from January.