https://j.people.com.cn/n3/2025/1202/c94476-20397425.html

According to the China Association of Automobile Manufacturers, monthly sales of new energy vehicles in October increased 20% year-on-year to 1.715 million units, accounting for 51.6% of total monthly new vehicle sales. This marks a new stage in China’s trend of new energy vehicles replacing conventional gasoline-powered vehicles.

The press release provides the following arguments for this trend.

(1) The supply of new passenger vehicle products continues to increase, and product technology is constantly becoming more advanced.

Features such as 800V silicon carbide platforms, long-distance range extenders/plug-in hybrids, end-to-end integrated driver assistance between parking spaces, and smart cockpits with AI-based models have been introduced in most manufacturers’ flagship models.

(2) The electrification process of commercial vehicles is accelerating.

The sales share of new energy commercial vehicles was 14.9% in 2024, but rose sharply to 20.7% from January to October of this year.

(3) The automotive industry is currently thriving. But there are many challenges including the vicious cycle of “increased production and revenue without increased profits”