Auto Shangai 2025: The context: the Chinese market and production in China continue to grow (2/2)
B. Analysis of the 1st quarter 2025
- In March 2025, China's passenger car (PC) production reached 2.574 million units and registrations 2.468 million units, representing an increase of 44% and 36% respectively compared to March 2024 (source: CAAM). In the first quarter of 2025, passenger car (PC) production reached 6.513 million units and registrations 6.419 million units, representing an increase of 16% and 12% respectively (source: CAAM). China's production and registration volume therefore remains in full growth, boosted both by the domestic market and exports (particularly to Europe and Russia).
- In this context, production of Chinese carmakers continues to increase, now approaching 70% of Chinese production and registrations. Foreign carmakers are seeing their market share shrink dramatically, with some close to disappearing completely from the Chinese market.
- For the motorisations, BEVs represented 2.023 million units produced in the first quarter of 2025, up 53.6% compared to the first quarter of 2024, and 1.928 million units registered over the same period, up 47.7%. PHEVs, for their part, represented 1.158 million units produced, up 45.3% and 1.145 million units registered, up 46.1%. The market share thus stands at 31% for BEVs in production and 30% in registrations. For PHEVs, the market share stands at 18% in production and 18% in registrations, with Chinese PHEVs exporting less than Chinese BEVs.
- The total number of PHEVs and BEVs therefore represents 49% of production and 48% of registrations, or nearly half of the total Chinese production or the Chinese market. If we take into account the fact that Chinese carmkers produce many more BEVs and PHEVs than foreign carmakers in China, the market share of BEVs and PHEVs within these carmakers is well over 50%, even approaching 60%.
- The total number of PHEVs and BEVs therefore represents 49% of production and 48% of registrations, or nearly half of the total Chinese production or the Chinese market. If we take into account the fact that Chinese carmkers produce many more BEVs and PHEVs than foreign carmakers in China, the market share of BEVs and PHEVs within these carmakers is well over 50%, even approaching 60%.
- BYD remains largely the leader among Chinese carmakers (with 986,000 vehicles produced in the first quarter of 2025 ) but also among carmakers of all nationalities on the Chinese market, up 58% compared to the first quarter of 2024. BYD is also the leader among global carmakers of BEVs (416,000 units) and PHEVs (570,000 units), ahead of Tesla (360,000 BEVs).