Core Insights - The Chinese new energy vehicle (NEV) market is expected to experience a strong performance in September 2025, driven by favorable production and sales conditions, as well as government policies promoting vehicle upgrades and local incentives [1][2] - Major automakers have reported record high wholesale sales of NEVs in September, contributing to a structural growth in the market [2] - The overall wholesale sales of NEVs in September are projected to reach 1.5 million units, marking a 22% year-on-year increase and a 16% month-on-month increase [2][4] Industry Overview - The Ministry of Industry and Information Technology (MIIT) has implemented measures to regulate competition in the NEV sector, leading to noticeable improvements in market order [1] - The market has shown a "low start and high finish" sales pattern, with a significant uptick expected as the year-end approaches [1] - The introduction of new models at events like the Chengdu Auto Show is anticipated to further stimulate consumer interest and sales [1] Sales Performance - In August 2025, the wholesale sales of NEVs from manufacturers exceeding 10,000 units accounted for 93.5% of the total NEV sales for that month [2][4] - The cumulative wholesale sales of NEVs from January to September 2025 reached 10.446 million units, reflecting a 32% year-on-year growth [2] Manufacturer Highlights - Key manufacturers such as Geely, Changan, and Leap Motor achieved record high wholesale sales in September, while others like Chery and Dongfeng Nissan also reported significant performance [2][3] - The top manufacturers' wholesale sales figures for September include: - BYD: 291,150 units - Hongqi: 171,070 units - Benz: 162,140 units - Leap Motor: 160,160 units - Others also contributed to the overall growth [3]