Bei Ke Cai Jing·2025-10-13 13:37Core Insights - In September, China's passenger car production, retail, and export volumes reached historical highs for the month, with retail sales at 2.241 million units, a year-on-year increase of 6.3% [1] - The retail penetration rate of new energy passenger vehicles rose to 57.8%, up 5 percentage points from the same period last year, indicating stable growth supported by policies such as tax exemptions [2][4] Group 1: Market Performance - The retail sales of new energy passenger vehicles in September increased by 15.5% year-on-year to 1.296 million units, maintaining a penetration rate above 50% for the seventh consecutive month since March [2] - The sales of pure electric passenger vehicles reached 826,000 units in September, showing a year-on-year growth of 28.5% and a month-on-month increase of 19.8% [5] - The overall passenger car market in the first nine months of the year saw cumulative retail sales of 17.005 million units, a year-on-year increase of 9.2% [7] Group 2: Segment Analysis - The market share of pure electric vehicles has significantly increased, while the growth rates of plug-in hybrid and range-extended vehicles have slowed down, indicating a shift in consumer preference [4][5] - The sales distribution for September was approximately 64% for pure electric vehicles, 28% for plug-in hybrids, and 8% for range-extended vehicles [5] Group 3: Company Performance - Among the top domestic automakers, Geely, BYD, and SAIC have achieved over 70% of their sales targets for the year, with Geely's cumulative sales reaching 2.17 million units, achieving a target completion rate of 72% [8] - New energy vehicle startups have shown a clear differentiation in sales target completion rates, with companies like XPeng and Leap Motor exceeding 75% [8] - The market share of domestic brands in retail reached 64.8%, an increase of 5.9 percentage points compared to the previous year, highlighting the growth of domestic brands in both the new energy and export markets [8]