Vehicle Production and Sales Volume

1. Definition and Statistical Scope

Vehicle production and sales volumerefers to the statistical indicator of the total number of built-up vehicles produced and sold by national automotive manufacturers within a given period (typically measured on a monthly, quarterly, or annual basis), reflecting the industry's supply capacity and market demand levels respectively. Published monthly by the China Association of Automobile Manufacturers (CAAM), this dataset serves as a primary economic benchmark for assessing the operational trajectory of the automotive industry, while also acting as a vital indicator of national manufacturing strength and consumer spending power.

2. 2025 Production and Sales Volume: Historic High

According to data released by the China Association of Automobile Manufacturers (CAAM), full-year vehicle production and sales volumes in 2025 reached34.531 million unitsand34.40 million unitsrespectively, representing year-on-year (YoY) increases of 10.4% and 9.4% to hit new all-time highs. This marks China's17th consecutive yearas the world's top automotive market by production and sales, whilst sustaining an annual volume of over 30 million units forthree consecutive years.

Market Segment Performance:

Segment	2025 Volume	YoY Growth	Remarks
Passenger Vehicles	Sales: 30.103 million units	+9.2%	Surpassed 30 million units for the first time
Commercial Vehicles	Sales: 4.296 million units	+10.9%	Rebounded back above 4 million units
New Energy Vehicles	Production/Sales: 16.626 million / 16.490 million units	+29.0% / +28.2%	Ranked No. 1 globally for 11 consecutive years; full-year penetration rate reached 47.9%
Vehicle Exports	7.098 million units	+21.1%	Surpassed 7 million units for the first time
Chinese Brand Passenger Vehicles	Sales: 20.936 million units	+16.5%	Market share reached 69.5%

In 2025, the expanded scope and enhanced support of the "Two New" policies (equipment renewal and consumer goods trade-in schemes) effectively stimulated market momentum, driving full-year production and sales figures beyond initial forecasts.

3. First Half of 2026: Overall Volume Dips Slightly as NEVs Defy Trends with Continued Growth

In the first half of 2026 (1H 2026), the automotive sector exhibited a trend of "a slight volume contraction amidst structural transformation". Total vehicle production and sales volumes stood at14.993 million unitsand15.017 million unitsrespectively, down by 4.0% and 4.1% YoY.

New Energy Vehicles (NEVs) bucked the broader downward trend, recording 1H production and sales of7.438 million unitsand7.446 million units, charting YoY gains of 6.7% and 7.3% respectively. NEVs accounted for49.6%of total new vehicle sales, with domestic market penetration surpassing the 50% mark. In June alone, NEV penetration climbed further to58.5%.

Vehicle export growth significantly outpaced domestic sales in 1H 2026, serving as an essential growth engine for the wider automotive industry.

4. Industry Trends and Market Forecasts

Establishment of NEV Market Dominance: The year 2025 marked the official transition of China's automotive industry into an NEV-dominated era, with NEVs capturing more than 50% of full-year domestic vehicle sales. In 1H 2026, NEVs maintained steady growth despite a slight overall market contraction, supported by climbing penetration rates and a well-defined long-term growth trajectory.
2026 Full-Year Outlook: CAAM forecasts total vehicle sales to reach34.75 million unitsfor the full year of 2026, representing a 1.0% YoY increase. Within this, NEV sales are projected to reach19.00 million units(up 15.2% YoY), driving overall market penetration to approximately 54.7%.
Structural Shifts: The passenger vehicle market is moving towards saturation, whilst the commercial vehicle sector is recovering on the back of policy incentives and infrastructure investments. Meanwhile, Chinese domestic brands continue to capture greater market share, and vehicle exports have solidified their role as a core growth pillar alongside domestic retail.