稳中再进，10月中国品牌乘用车市占率超70%

Core Insights - The market share of Chinese brand passenger vehicles has significantly increased since 2020, reaching 72.5% in October 2025, up 2.4 percentage points year-on-year [1][3] - From January to October 2025, the sales of Chinese brand passenger vehicles totaled 16.799 million units, a year-on-year increase of 21.3%, with a market share of 69.4%, up 4.8 percentage points from the previous year [3] - The production and sales of automobiles in October 2025 reached record highs, with production at 3.359 million units and sales at 3.322 million units, both showing month-on-month and year-on-year growth [3] New Energy Vehicles (NEVs) - In October 2025, NEV sales accounted for 51.6% of total new car sales, marking the first time this segment surpassed half of the market [5] - NEV production and sales in October reached 1.772 million and 1.715 million units, respectively, representing year-on-year growth of 21.1% and 20% [7] - From January to October 2025, cumulative NEV production and sales were 13.015 million and 12.943 million units, with year-on-year growth of 33.1% and 32.7% [7] Leading Companies in NEV Market - The top fifteen NEV manufacturers accounted for 95.2% of total NEV sales, with BYD, Geely, and SAIC leading the market, collectively holding a market share of 50.7% [7][8] - The sales of the top three companies were 3.702 million units, 1.639 million units, and 1.216 million units, respectively, showing significant growth [8] Export Performance - In October 2025, total automobile exports reached 666,000 units, with a year-on-year increase of 22.9% [8] - NEV exports were particularly strong, with 256,000 units exported in October, a year-on-year increase of 99.9% [11] - The export of NEV passenger vehicles was 250,000 units, also showing a year-on-year growth of 100% [11] Commercial Vehicles - The domestic sales of NEV commercial vehicles accounted for 30.9% of total commercial vehicle sales in October, up from 24.6% in the first ten months [15] - NEV commercial vehicle exports reached 6,000 units in October, with a year-on-year increase of 26.7% [15] - Cumulatively, NEV commercial vehicle exports from January to October totaled 70,000 units, representing a year-on-year increase of 130% [15] Market Outlook - The overall market growth has exceeded initial expectations, with projections indicating that total automobile production and sales could surpass 34 million units by the end of the year [15]