CPCA

China passenger NEV retail sales stood at 784,000 units in March, down 21% year-on-year but up 69% from February.

CPCA estimated China's passenger NEV wholesale sales reached 1.12 million units in March, with BYD topping all automakers and Tesla ranking third.

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

China's NEV retail sales in March are expected to nearly double from February's trough, with the penetration rate returning above 50%.

In the overall passenger car retail market, Geely ranked first with a 14.1% share, while BYD ranked second with an 8.6% share.

Exports of passenger NEVs from China surged 124.7% to 269,000 units, providing a strong bright spot for Chinese automakers.

BYD narrowly retained its position as China's largest NEV maker by retail sales, though its lead over Geely was only 0.3 percentage points.

The combination of the seasonal slowdown at the start of the year and reduced policy support has impacted China's NEV sales.

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

Compared with December 2025, the estimate represents a 42.42% decline.