According to the latest data from the China Association of Automobile Manufacturers, in the first half of 2025, China's automobile production and sales were around 15.62 million and 15.65 million, respectively, which is the first time that both have exceeded 15 million. Among them, the production and sales of new energy vehicles were about 6.97 million and 6.94 million, respectively, up by 41.4% and 40.3% year on year, respectively.
In the first half of the year, China's domestic automobile sales reached 12.57 million, up by 11.7% year on year. This is because China's "old for new" policy has driven the domestic demand market. Especially in June, the domestic sales of new energy passenger cars accounted for more than half of the domestic sales of passenger cars, and the domestic sales of new energy commercial vehicles accounted for a quarter of the domestic sales of commercial vehicles.
In terms of exports, China exported about 3.08 million vehicles in the first half of the year, up by 10.4% year on year. Among them, 1.06 million new energy vehicles were exported, up by 75.2% year on year.
Policies and new product supply from enterprises will help drive China's automobile consumption to continue to grow in the future. However, high auto inventories in China and repeated price wars in the market point to weak demand and overcapacity.
