2025 Passenger Vehicle Sales Revealed: BYD Tops the Chart as NEVs Drive Growth

In 2025, domestic passenger vehicle retail sales reached 23.744 million units, marking a modest year-over-year increase. BYD topped the domestic automaker rankings with strong performance, while Volkswagen led among joint-venture brands. The market exhibited a pronounced concentration effect, with new energy vehicles (NEVs) serving as the primary growth driver. Geely maintained its leading position thanks to popular models like the Boyue L and Xingyue L, while BYD secured its spot at the forefront with hit products such as the Qin PLUS DM-i. Automakers adopted notably divergent strategies—some focused on a single blockbuster model, while others pursued a multi-pronged approach. High cost-performance ratios and distinctive product identities emerged as key success factors. Meanwhile, a trend toward premiumization became evident, with an increasing number of consumers shifting from traditional luxury brands to high-end Chinese models.