Passenger Link Branch: Wholesale sales of new energy passenger car manufacturers are expected to increase 4% year-on-year in December by 1.57 million vehicles

The Zhitong Finance App learned that according to a comprehensive estimate of preliminary monthly passenger data, passenger car manufacturers nationwide wholesale 1.57 million new energy vehicles from December 1-31, a year-on-year increase of 4% and a negative increase of 8% month-on-month. In 2025, a total of 15.33 million new energy passenger vehicles were sold, an increase of 25% over the previous year.

With the expiration of the year-end NEV purchase tax exemption policy, the car market entered the year-end rush phase in December, but due to adjustments in superimposed automobile trade-in policies, the market trend was clearly divided. Recently, most provinces across the country have undergone extensive adjustments to varying degrees of depth in replacement, renewal and trade-in subsidies, which has intensified consumers' wait-and-see sentiment, and also brought about a significant deceleration trend in the car market in December.

Major car companies' breakthroughs in electrification and the launch of some hot new products led to high structural growth in the car market in December. In December, manufacturers such as Tesla (TSLA.US), Cyrus (601127.SH), NIO Auto (09866), FAW Pentium, GAC Toyota, Dongfeng Nissan, and JAC reached record highs in each month of the year, while car companies such as Changan Automobile, Jihu Auto, FAW Hongqi, and Changan Mazda also achieved excellent monthly high performance in each month of the year. As BYD (002594.SZ) exported 133,000 vehicles in December, an increase of 75,000 units over the previous year, driving a significant structural increase in NEV exports, which boosted the overall sales volume of NEVs by 4%.

Quick report on wholesale sales of new energy from major passenger car manufacturers in December