January Passenger Car Sales Show Strong Growth, with NEV Exports Stabilizing the Market

Boosted by the government's policies to stimulate consumption, the automotive market as a whole maintained strong growth in 2025, with notable recoveries in both truck and bus segments. Although passenger vehicle retail sales declined month-over-month in January this year due to a slight easing of policy support compared to 2025, manufacturers’ year-over-year sales growth remained relatively robust, supported by rising exports. The new energy vehicle (NEV) market has shown steady performance, primarily driven by sustained export strength, though the industry continues to face significant pressures overall. Looking ahead to 2026, the commercial vehicle market is expected to achieve structural growth, fueled by equipment-upgrade subsidy policies. Generous subsidies will accelerate electrification in the logistics and transportation sector, thereby boosting market sentiment for commercial vehicles.