12月“零批”同比双增，2025年新能源车翘尾收官

Group 1 - In 2025, retail sales of passenger vehicles in China reached 23.74 million units, a year-on-year increase of 3.8%, while wholesale volume was 29.55 million units, up 8.8% [1] - The growth in retail and wholesale volumes was significantly driven by new energy vehicles (NEVs), which accounted for over half of the total increase [1] - The wholesale growth rate for NEVs reached 25.2% in 2025, successfully meeting the growth expectations set for the "14th Five-Year Plan" [1] Group 2 - In December 2025, NEV wholesale sales reached 1.563 million units, a year-on-year increase of 3.3%, while retail sales were 1.337 million units, up 2.6% [2] - The retail penetration rate for NEVs in December 2025 was 59.1%, indicating a strong market presence [2] - The overall retail volume of NEVs for 2025 was 12.81 million units, with a year-on-year growth of 17.6% [2] Group 3 - The penetration rate of NEVs is approaching 60%, marking a new phase where the market is increasingly dominated by new energy vehicles [3] - In December 2025, the retail volume of pure electric vehicles (BEVs) was 782,000 units, showing positive growth, while range-extended vehicles saw a higher growth rate of 15.4% [3] - The market share of new force brands in NEVs reached 23.5% in December 2025, an increase of 4.9 percentage points year-on-year [4] Group 4 - The export of passenger vehicles, including NEVs, reached 588,000 units in December 2025, a year-on-year increase of 46.2%, with NEVs accounting for 46.4% of total exports [4] - Pure electric vehicles constituted 57.9% of NEV exports, with A00 and A0 class pure electric vehicles making up 68% of pure electric exports [4] - The trend of increasing CKD (Completely Knocked Down) exports is notable, with Great Wall Motors and SAIC-GM-Wuling having high CKD export ratios [5] Group 5 - The association predicts a continued growth trajectory for the NEV market in 2026, estimating an overall growth rate of around 10% [5]