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China's Electric Vehicle Market Thrives in July 2025
China's electric vehicle (EV) market is continuing its strong growth trajectory, despite Li Auto's decision to cease weekly data publication following the China Automotive Manufacturers Association's (CAMA) recommendation.
In the week ending July 27, 2025, plug-in electric vehicles (PEVs) accounted for about 53% of new car sales, with battery electric vehicles (BEVs) growing 33% year-over-year to approximately 32–33% of total sales. This pushed the year-to-date market share for plugins to around 50%, indicating a market potentially heading towards 60% plugin share by year-end.
Key trends and events include sustained growth in the EV market share, record sales and expansion, market leadership and model performance, export growth, price and market dynamics, and Li Auto's reporting change.
The first half of 2025 saw 10.9 million passenger vehicles sold, with new energy vehicles (NEVs) commanding a significant and growing share. NEVs on China’s roads reached 10.3% of the total vehicle population (36.9 million out of 359 million cars), with BEVs constituting around 69% of NEVs.
BYD and Geely are top performers, with BYD leading NEV shipments at 1.61 million units in H1 2025 and Geely showing over 124% NEV growth. The popular Geely Xingyuan compact hatchback is the best-selling vehicle overall in 2025.
Export of Made-in-China vehicles rose 10.7% year-over-year, driven by NEVs, which made up 34.4% of exports. BYD’s global expansion significantly boosted exports, increasing by 265,000 units compared to last year.
An ongoing EV price war is evident, with average EV discounts around 10% (less than the 23% discount typical for ICE vehicles), stimulating further demand.
Li Auto ceased publishing weekly data at CAMA’s recommendation, likely reflecting a broader shift in data reporting standards. However, aggregate market data remains available through other sources tracking overall sales and trends, indicating stable or growing market momentum.
In Week 30 of 2025, EV registrations in China were mostly up. Nio was up 30%, Xpeng was up 25%, Tesla was up 8%, and BYD was up 14% compared with the previous week.
Notable registrations for the week include Tesla with 10,650 vehicles, a 7.6% increase from the previous week but down 21.11% from the same week last year. Volkswagen-backed Xpeng saw a strong gain to 8,400 units, up 25.4% week-on-week and 250% year-on-year. Zeekr registered 3,300 vehicles, a 10% weekly increase and flat year-on-year.
In Week 31 of 2025, China EV registrations saw Nio registering 3,450 vehicles, Onvo registering 3,700, Xpeng registering 9,071, Tesla registering 11,000, and BYD registering 60,930. Xiaomi reported 7,500 registrations, a 4.2% weekly gain and a 92.31% increase from the same week last year.
Despite Li Auto's cessation of weekly data release, the Chinese EV market through late July 2025 shows strong growth in sales, market share, exports, and enduring consumer interest driven by competitive pricing and model innovation, positioning it for a record-breaking 2025 overall.
- In the midst of China's thriving electric vehicle market, the impact of technology is evident as new energy vehicles (NEVs) leverage advanced technology for increased efficiency and performance, accounting for a significant and growing share of the market.
- As finance plays a crucial role in the growth of this market, various players, including BYD and Geely, are using innovative financing strategies to boost their expansion and global competitiveness, reflecting the interdependence of technology and finance in the electric vehicle industry.
