China Auto Market

China's NEV retail sales came in at 495,000 units from March 1 to 22, contributing 53.9% of total passenger car sales.

Deutsche Bank analysts noted that China's mature EV ecosystem provides a natural buffer against surging oil prices.

The 2025 Spring Festival holiday ran from January 28 to February 4, while this year's holiday period falls from February 15 to 23.

From January 1 to 18, China's total passenger vehicle retail sales came in at 679,000 units, down 28% compared to the same period last year.

Additional vehicle purchase tax costs kicking in and the transition of trade-in subsidies are putting pressure on NEV sales at the start of the year.

From December 1 to 28, China's overall passenger vehicle retail sales totaled 1.928 million units, down 17 percent year-on-year.

Analysts predict budget automakers like Leapmotor, BYD, and Geely will face the greatest impact.

From December 1 to 21, China's overall passenger vehicle retail sales totaled 1.3 million units, down 19 percent year-on-year.

From December 1 to 14, China's overall passenger vehicle retail sales totaled 764,000 units, a 24 percent decrease compared to the same period last year.

The guidelines outline pricing conduct standards for car manufacturers, clarifying pricing strategy and sales behavior compliance requirements.