新能源乘用车周度销量报告-20250904

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - In the 35th week of 2025 (August 25 - August 31), the sales of domestic passenger cars and new energy passenger cars increased month - on - month. The retail sales of passenger cars were 5.18 million, a year - on - year increase of 4.3%; the retail sales of new energy passenger cars were 2.88 million, a year - on - year increase of 13.2%; the new energy penetration rate was 55.5%. Since the beginning of this year, the cumulative retail sales of passenger cars were 14.365 billion, a year - on - year increase of 6.4%; the cumulative retail sales of new energy passenger cars were 7.425 billion, a year - on - year increase of 24.3%; the cumulative new energy penetration rate for the year was 51.7%. The year - on - year growth rate of new energy passenger cars slowed down significantly due to the high base of last year, and the slope of the new energy penetration rate has slowed down this year, similar to 2023 [1][12]. - The market pattern of new energy vehicles is constantly changing. BYD's year - on - year sales growth rate has turned negative since July, and its annual sales target has been lowered. New forces such as XPeng, NIO, Leapmotor, Xiaomi, and VOYAH maintained good year - on - year growth rates. New brands like Xiaomi have added new variables to the market, and traditional automakers such as Geely, Changan, and Chery have achieved excellent performance in new energy vehicle sales [2][26]. 3. Summary by Relevant Catalogs 3.1 Passenger Car Market Weekly Overview - Overall Sales and Penetration Rate: In the 35th week of 2025, domestic passenger car and new energy passenger car sales increased month - on - month. Passenger car retail sales were 5.18 million, up 4.3% year - on - year; new energy passenger car retail sales were 2.88 million, up 13.2% year - on - year; the new energy penetration rate was 55.5%. Since the beginning of the year, cumulative passenger car retail sales were 14.365 billion, up 6.4% year - on - year; cumulative new energy passenger car retail sales were 7.425 billion, up 24.3% year - on - year; the cumulative new energy penetration rate for the year was 51.7% [12]. - Sales by Power Mode: Among passenger cars, traditional fuel, hybrid, and new energy vehicles had retail sales of 2.1 million, 0.21 million, and 2.88 million respectively, with year - on - year changes of - 4.6%, - 7.6%, and 13.1%, accounting for 40.5%, 4.0%, and 55.5% of passenger cars respectively. Among new energy passenger cars, pure - electric, plug - in hybrid, and extended - range vehicles had retail sales of 1.86 million, 0.76 million, and 0.26 million respectively, with year - on - year changes of 26.9%, - 6.2%, and - 4.0%, accounting for 64.7%, 26.4%, and 9.0% of new energy passenger cars respectively [18]. - Sales by Production Attribute: Among passenger cars, self - owned and joint - venture brands had retail sales of 3.4 million and 1.79 million respectively, with year - on - year changes of 10.7% and - 6.0%, accounting for 65.5% and 34.5% of passenger cars respectively. Among new energy passenger cars, self - owned and joint - venture brands had retail sales of 2.61 million and 0.27 million respectively, with year - on - year changes of 15.2% and - 3.3%, accounting for 90.6% and 9.4% of new energy passenger cars respectively [18]. 3.2 Key New Energy Automaker Sales Analysis 3.2.1 BYD - Weekly sales were 75,000 vehicles. Since July, the year - on - year growth rate has turned negative, and the annual sales target has been lowered from 5.5 million (including 800,000 in overseas markets) to 4.6 million. The cumulative sales from January to August were 2.864 million globally, with 630,000 passenger cars and pickups sold overseas. The overseas target is likely to be achieved [27]. 3.2.2 Geely - Weekly sales were 57,000 vehicles, including 36,000 new energy vehicles (3,000 from ZEEKR). The electrification rate was about 63%. Cumulative sales this year were 1.502 million, up 49.6% year - on - year, and cumulative new energy sales were 883,000, doubling year - on - year. The 2025 sales target has been raised from 2.71 million to 3 million [29]. 3.2.3 SAIC - GM - Wuling - Weekly sales were 20,000 vehicles, including 18,000 new energy vehicles. The electrification rate was as high as 91%. Cumulative sales this year were 536,000, with a growth rate of 21.2%, and new energy sales were 458,000, with a growth rate of 39.7%. Pure - electric vehicles dominated sales [32]. 3.2.4 Changan - Weekly sales were 26,000 vehicles, including 14,000 new energy vehicles. The electrification rate was about 55%. Cumulative sales this year were 781,000, up 2.1% year - on - year, and new energy sales were 385,000, up 19.3% year - on - year. The sales of its new energy brands Shenlan and Qiyuan were about 4,000, and the sales of Avatr were about 2,000 [37]. 3.2.5 Chery - Weekly sales were 26,000 vehicles, including 10,000 new energy vehicles. The electrification rate was about 40%. Cumulative sales this year were 901,000, up 25.7% year - on - year, and new energy sales were 283,000, up 68.5% year - on - year. The sales of its new energy brands iCAR and Chery New Energy were both over 1,000 [42]. 3.2.6 Tesla - Weekly sales in China were 12,000 vehicles (about 5,000 for Model 3 and 8,000 for Model Y). Cumulative sales this year were 365,000, with a year - on - year negative growth of - 6.6%. Tesla has launched multiple promotional activities this year. The price of the Model 3 Long Range Edition has increased, reflecting the trend of less price competition. Model 3 and Model Y have entered the new energy vehicle rural promotion catalog for the first time [47]. 3.2.7 Hongmeng Zhixing - Weekly sales were 12,000 vehicles, with WENJIE accounting for about 11,000. The Shangjie H5, a cooperation model with SAIC, is planned to be officially launched in September, targeting the mass market [50]. 3.2.8 New Forces - Among new forces, Leapmotor sold 14,000 vehicles, Xiaomi sold 12,000 vehicles, WENJIE sold 11,000 vehicles, and Li Auto, XPeng, and NIO sold 8,000 vehicles each. XPeng, NIO, Leapmotor, Xiaomi, and VOYAH maintained good year - on - year growth rates, and NIO's new model LeDao L90 has driven the sales recovery in recent weeks [57].