China Passenger Car Association: New energy passenger car sales are expected to reach 16.14 million units in February 2025, with a penetration rate of 56%

According to recent news, Cui Dongshu, secretary-general of the China Passenger Car Association, wrote an article pointing out that based on the strong performance shown by the China Passenger Car Association data in February 2025, the old-for-new subsidy policy has played a significant role in promoting the sales of new energy vehicles and the total number of passenger cars, making the market in February present an extremely bright trend.

At the same time, combined with the good policy orientation of the national policy promotion spending in 2025 and comprehensive consideration of the changing trends in the future development environment, the China Passenger Car Association has raised its annual industry forecast for 2025.

Specifically, in the field of new energy passenger vehicles, it is predicted that its wholesale sales will reach 16.14 million units in 2025, an increase of 490,000 units compared to the previous forecast of 15.65 million units, a year-on-year growth rate of 32%.

At the same time, the wholesale penetration rate of new energy is expected to reach 56% , which fully demonstrates the booming potential of the new energy vehicle market.

Looking back at 2024, the sales volume of new energy passenger vehicle manufacturers nationwide reached 12.23 million units. This achievement was achieved thanks to the decline in the price of new energy vehicles and the strong promotion of the national scrapping and renewal and old-for-new policies.

Last year, the relevant policies provided subsidies for new energy vehicles that were 5,000 yuan higher than those for fuel vehicles. This differentiated subsidy strategy, combined with the falling prices of new energy vehicles, together created an effect that exceeded expectations in replacing fuel vehicles, and effectively promoted the development of the new energy vehicle market.