China Dec NEV retail sales hit record high

• China's December passenger NEV retail sales reached a record 1.337 million units, though year-on-year growth slowed to 2.6%.
• For the full year 2025, China's NEV retail sales reached 12.81 million units, representing a year-on-year increase of 17.6%.

China's new energy vehicle (NEV) retail sales continued to set new records last month, though growth momentum continued to slow.

Passenger NEV retail sales reached 1.337 million units in December, surpassing the previous record of 1.321 million units set in November, according to data released today by the China Passenger Car Association (CPCA).

This represents a 2.6% year-on-year increase and a 1.2% rise from November.

The figure falls below the CPCA's preliminary data of 1,387,000 units released earlier this month and its revised estimate of 1,380,000 units published late last month.

Battery electric vehicles (BEVs) recorded retail sales of 782,000 units in December, marking a 2.5% year-on-year increase but a 5.5% decrease from November.

BEVs accounted for 58.49% of total NEV retail sales in December, down 4.11 percentage points from November's 62.60%.

Hybrid vehicles, including plug-in hybrid electric vehicles (PHEVs) and extended-range electric vehicles (EREVs), recorded retail sales of 555,000 units in December, marking a 2.59% year-on-year increase and a 12.35% rise from November.

This marks the first year-on-year growth in hybrid vehicle retail sales since July.

After excluding EREVs, PHEV retail sales reached 410,000 units in December, accounting for 30.67% of NEV retail sales.

PHEV retail sales declined 1.1% year-on-year, marking the sixth consecutive month of year-on-year decline, though they increased 10.0% compared to November.

EREVs recorded retail sales of 145,000 units in December, accounting for 10.85% of NEV retail sales. This represents a 15.4% year-on-year increase -- the first such growth since July -- and a 20.6% rise compared to November.

China's passenger car retail sales, encompassing sedans, SUVs (sport utility vehicles), and MPVs (multi-purpose vehicles), came in at 2.261 million units in December. This represents a 14% year-on-year decrease but a 1.6% increase compared to November.

China's NEV retail penetration rate reached 59.1% in December, up 9.6 percentage points year-on-year but down 0.2 percentage points from November's 59.3%.

In December, domestic brands achieved an 80.9% NEV retail penetration rate, while luxury brands reached 39.1% and mainstream joint-venture brands recorded 8.2%, according to CPCA.

China's passenger NEV wholesale sales totaled 1.563 million units in December, marking a 3.3% year-on-year increase but an 8.4% decline from November.

The NEV wholesale penetration rate in December was 56.0%, up 6.6 percentage points year-on-year but down 0.39 percentage points from November.

Domestic Chinese brands achieved a wholesale penetration rate of 72.8% for NEVs in December, while luxury brands reached 42.5% and mainstream joint-venture brands accounted for 7.2%.

Passenger NEVs exported from China in December totaled 273,000 units, up 119.8% year-on-year but down 4.0% from November, accounting for 46.4% of passenger vehicle exports.

BEVs accounted for 57.9% of NEV exports in December, down from 62.5% year-on-year.

Exports of A0-segment and A00-segment BEVs represented 68% of NEV exports, up from 52% year-on-year.

For the full year 2025, China's NEV retail sales reached 12.81 million units, a 17.6% year-on-year increase.

BEV retail sales reached 7.88 million units in 2025, up 24.4% year-on-year; PHEV retail sales totaled 3.40 million units, rising 8.8% year-on-year; EREV retail sales amounted to 1.17 million units, increasing 6.0% year-on-year.