- China has released an automotive industry growth stabilization plan aimed at achieving key economic development goals for the sector.
- In 2025, China targets annual vehicle sales of about 32.3 million units, representing a year-on-year increase of about 3 percent.
China has announced official 2025 annual sales targets for the overall automotive industry and new energy-vehicles (NEVs) amid growth challenges facing the broader industry.
In 2025, China aims to achieve annual vehicle sales of about 32.3 million units, representing a year-on-year increase of about 3 percent, according to an automotive industry growth stabilization plan released today by eight government departments, including the Ministry of Industry and Information Technology.
The plan specifies an NEV sales target of around 15.5 million units, reflecting a year-on-year growth of about 20 percent.
This implies a NEV penetration rate target of 48 percent for 2025, meaning 48 out of every 100 vehicles sold would be NEVs.
In China, NEVs encompass battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles.
China aims to maintain stable growth in automobile exports this year, and increase the added value of the automotive manufacturing sector by about 6 percent year-on-year.
In 2026, the country aims to maintain steady and positive development in the automotive sector, with further improvements in industrial scale, quality, and efficiency.
The automotive industry is a vital force driving the new round of technological revolution and industrial transformation, serving as a key pillar of the national economy, the document says.
However, the external environment has become more complex and challenging, with intensified unilateralism and protectionism disrupting the stability of industrial and supply chains, the document notes.
Meanwhile, the foundation for domestic economic recovery remains fragile, with challenges such as insufficient effective demand and disorderly market competition persisting, making the task of stabilizing industry growth arduous, the document states.
The formulation of the automotive industry growth stabilization plan aims to achieve the primary expected economic development goals for the sector, the document says.
The document outlines several measures, including accelerating the electrification of public sector vehicles, further stimulating automobile consumption, optimizing charging infrastructure, and refining industry management policies.
From January to August, China sold 9.59 million NEVs, a year-on-year increase of 36.37 percent, according to data from the China Association of Automobile Manufacturers (CAAM).
Total vehicle sales during the same period reached 21.1 million units, up 12.46 percent year-on-year.
This indicates that China’s NEV penetration rate stood at 45 percent during the January-August period.
Source link
