According to the latest report from the China Association of Automobile Manufacturers (CAAM), during the first three months of 2025, the sales of new energy vehicles (NEVs) in China are expected to reach a remarkable 68% increase. This data was released on May 4, 2025, and indicates that in the first quarter of 2025, a total of 2.264 million vehicles were sold, with new energy vehicles accounting for 446,000 units.
In the same period, the share of new energy vehicles in total vehicle sales reached 19.7%. Specifically, pure electric vehicles made up 12.9%, plug-in hybrid vehicles accounted for 6.8%, and other hybrid vehicles represented 7%. Notably, the share of oil-electric hybrid vehicles has also seen an uptick.
The report highlights a significant growth trend in the international market for Chinese NEVs. In 2021, the market share of Chinese NEVs abroad was 1.8%; this figure rose to 4.7% in 2022, and further increased to 7.9% in 2023. By 2024, the market share for Chinese NEVs internationally is projected to reach 9.5%, with expectations to climb to 11.7% by March 2025.
In comparison to European and American markets, the growth rate of Chinese NEVs is considerably stronger. For instance, in 2021, China maintained a market share of 52.4% in the NEV sector; by 2022, it surpassed 63%, and in 2023, it reached 64%. Projections for 2024 suggest a further increase to 70.1%, while the first quarter of 2025 is expected to sustain a high market share of 67.7%, indicating a notable increase of 5.4 percentage points.
In terms of carbon emission reductions from NEVs, China achieved a remarkable 84% reduction in the first quarter of 2025, while Germany and France saw a decrease of 5%. The United Kingdom achieved a 3% reduction, and other countries reported various levels of emission reductions.
For more detailed insights on new energy vehicles and market trends, you can visit the Sina Finance website.
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