乘联分会·2026-01-12 09:28Core Viewpoint - The article highlights the performance of the Chinese automotive market in December 2025, noting a decline in retail sales for traditional vehicles while emphasizing growth in the new energy vehicle (NEV) sector and exports. The market is expected to transition into 2026 with a focus on new energy vehicles and a recovery in demand [4]. Sales Performance - In December 2025, the domestic narrow passenger car market retail sales reached 2.261 million units, a year-on-year decrease of 14.0% but a month-on-month increase of 1.6%. Cumulative sales for the year totaled 23.744 million units, reflecting a year-on-year growth of 3.8% [2]. - The wholesale sales ranking for December 2025 shows BYD leading with 414,784 units sold, followed by Geely and Chery with 236,817 and 234,736 units, respectively. Notably, BYD's sales decreased by 12.7% month-on-month and 18.6% year-on-year [5]. - For the entire year of 2025, BYD also topped the wholesale sales with 4.545 million units, marking a 6.9% increase year-on-year, while Geely's sales surged by 39.0% to 3.025 million units [6]. New Energy Vehicle Market - In December 2025, the NEV wholesale sales ranking was led by BYD with 414,784 units, despite a month-on-month decline of 12.7% and a year-on-year drop of 18.6%. Geely followed with 154,264 units, showing a year-on-year increase of 38.7% [9]. - The retail sales for NEVs in December 2025 also saw BYD at the forefront with 339,854 units sold, a month-on-month increase of 10.9% but a year-on-year decrease of 15.7% [13]. - For the full year, BYD maintained its dominance in the NEV sector with 3.485 million units sold, although this represented a year-on-year decline of 6.3% [14]. Market Trends and Future Outlook - The article notes that the end of the year typically sees a surge in vehicle purchases, but the depletion of subsidy funds across provinces has tempered this effect, leading to a more stable demand outlook heading into 2026 [4]. - The performance of various manufacturers indicates a competitive landscape, with traditional automakers facing challenges while NEV manufacturers like BYD and Geely continue to show resilience and growth potential [6][9].