China's Auto Sales Hit Record High in 2025, Domestic Brands Near 70% Market Share

In 2025, wholesale sales of passenger cars (narrowly defined) in China reached 29.554 million units, an increase of 8.8% year-over-year. Domestic brands stood out particularly, with annual sales hitting 20.502 million units—a substantial 16.6% year-over-year growth—raising their market share from 64.7% in 2024 to 69.5%, approaching 70%. Despite the continued rise in overall sales, industry players widely noted that "vehicles are selling in greater numbers, yet profit margins are shrinking," highlighting the intensified market competition and mounting profitability pressures.