新能源乘用车第38周销量报告

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - In the 38th week of 2025 (from September 15th to September 21st), the single - week retail sales of passenger cars reached 5.11 million, a year - on - year increase of 14.2%. The cumulative retail sales since the beginning of this year were 15.693 billion, a year - on - year increase of 5.9%. The single - week retail sales of new energy passenger cars were 2.99 million, a year - on - year increase of 5.9%, and the cumulative retail sales since the beginning of this year were 8.214 billion, a year - on - year increase of 23.0%. The single - week penetration rate of new energy vehicles reached 59.5%, and the cumulative annual penetration rate was 52.3%, showing a slow upward trend [1][13][16]. - The market pattern of new energy vehicles is constantly changing. Brands like BYD and Li Auto had a year - on - year negative growth, while XPeng, NIO, Leapmotor, Xiaomi, and Voyah maintained relatively high growth rates. New brands such as Xiaomi have added new variables to the market, and traditional automakers like Geely, Changan, and Chery have achieved excellent performance in new energy vehicle sales [2][22]. 3. Summary According to Relevant Catalogs 3.1 Passenger Car Market Weekly Overview - Overall Passenger Car Sales: In the 38th week of 2025, the single - week retail sales of passenger cars were 5.11 million, a year - on - year increase of 14.2%. The cumulative retail sales since the beginning of this year were 15.693 billion, a year - on - year increase of 5.9% [1][13]. - New Energy Passenger Car Sales: The single - week retail sales of new energy passenger cars were 2.99 million, a year - on - year increase of 5.9%. The cumulative retail sales since the beginning of this year were 8.214 billion, a year - on - year increase of 23.0% [1][13]. - Penetration Rate: The single - week penetration rate of new energy vehicles reached 59.5%, and the cumulative annual penetration rate was 52.3%, showing a slow upward trend [1][16]. - Sales by Power Type: Among passenger cars, traditional fuel, hybrid, and new energy vehicles had retail sales of 1.94 million, 0.18 million, and 2.99 million respectively, with year - on - year changes of - 4.1%, - 3.4%, and 31.9% respectively, accounting for 37.9%, 3.6%, and 58.5% of passenger cars. Among new energy passenger cars, pure - electric, plug - in hybrid, and extended - range vehicles had retail sales of 1.95 million, 0.79 million, and 0.25 million respectively, with year - on - year changes of 54.9%, 5.0%, and - 2.4% respectively, accounting for 65.2%, 26.5%, and 8.3% of new energy passenger cars [17]. - Sales by Production Attribute: Among passenger cars, self - owned and joint - venture brands had retail sales of 3.43 million and 1.69 million respectively, with year - on - year increases of 22.0% and 1.0% respectively, accounting for 67.0% and 33.0% of passenger cars. Among new energy passenger cars, self - owned and joint - venture brands had retail sales of 2.7 million and 0.3 million respectively, with year - on - year increases of 33.2% and 21.1% respectively, accounting for 90.1% and 9.9% of new energy passenger cars [19]. 3.2 Key New Energy Automaker Sales Analysis - Overall Situation: In the 38th week of this year, BYD sold 78,000 new energy passenger cars, Geely Automobile sold 37,000, SAIC - GM - Wuling sold 20,000, Tesla (China) sold 17,000, Changan Automobile sold 15,000, Hongmeng Zhixing sold 13,000, and Chery Automobile sold 11,000. Among new - force automakers, Leapmotor sold 13,000, Xiaomi sold 11,000, Wenjie sold 10,000, XPeng and Li Auto sold 9,000 each, and NIO sold 7,000 [2][22]. - BYD: The weekly sales were 78,000. Since July, the year - on - year growth rate has turned negative. The cumulative sales this year were 2.359 billion, with a year - on - year growth rate of 2.3%. The sales of pure - electric and plug - in hybrid (including extended - range) models were basically half and half. From January to August this year, the global cumulative sales were 2.864 billion, and the overseas cumulative sales of passenger cars and pickups were 630,000. Regarding the reported reduction of the annual sales target from 5.5 billion (including 800,000 in the overseas market) to 4.6 billion, the completion rate of the original target from January to August was 52%, and the overseas market target completion rate was 78.75%. After the target reduction, the completion rate was 62% [26]. - Geely Automobile: The weekly sales were 56,000, including 37,000 new energy vehicles (3,000 from the Zeekr brand), and the electrification rate was about 65%. The cumulative sales this year were 1.647 billion, a year - on - year increase of 48.5%, and the cumulative new energy sales were 979,000, a year - on - year increase of 100.0%. The company adjusted its 2025 sales target from 2.71 billion to 3 billion [28]. - SAIC - GM - Wuling: The overall passenger car sales were 21,000, including 20,000 new energy vehicles, and the electrification rate was as high as 92%. The cumulative sales this year were 594,000, with a growth rate of 19.9%, and the new energy sales were 511,000, with a growth rate of 35.4%. Pure - electric models dominated the sales [31]. - Changan Automobile: The overall passenger car sales were 25,000, including 15,000 new energy vehicles, and the electrification rate was about 59%. The cumulative sales this year were 846,000, a year - on - year increase of 2.1%, and the new energy sales were 423,000, a year - on - year increase of 19.2% [36]. - Chery Automobile: The overall passenger car sales were 26,000, including 11,000 new energy vehicles, and the electrification rate was about 44%. The cumulative sales this year were 869,000, a year - on - year increase of 23.5%, and the new energy sales were 313,000, a year - on - year increase of 66.5% [41]. - Tesla: The sales in China that week were 17,000, and the cumulative sales this year were 412,000, a year - on - year negative growth of - 5.7%. The sales of Model 3, Model Y, and Model Y L were about 6,000, 10,000, and 1,000 respectively. Tesla has launched multiple promotional activities this year. The price of the long - range version of Model 3 increased by 10,000 yuan since July 1st. Tesla's Model 3 and Model Y entered the rural subsidy catalog for the first time in 2025 [46]. - Hongmeng Zhixing: The weekly sales were 13,000, including about 10,000 for Wenjie and about 1,000 for Zhijie. The Shangjie H5, a new car in cooperation with SAIC, is planned to be officially launched in September, targeting the mass market [50]. - New - Force Automakers: Leapmotor, Xiaomi, Wenjie, XPeng, Li Auto, and NIO sold 13,000, 11,000, 10,000, 9,000, 9,000, and 7,000 respectively. XPeng, NIO, Leapmotor, Xiaomi, and Voyah maintained relatively high growth rates [2][22].