NEV have become the primary force driving the growth of the automotive market.
On September 18, the China Automobile Dealers Association released the “Mid-Month Report on the Passenger Vehicle Market for September 2025.”
With over 30 new models intensively launched at the Chengdu Auto Show at the end of August, coupled with dealers pushing for end-of-quarter sales targets and increased promotional efforts, the automotive market entered a peak consumption season in September.
Data shows that compared to the same period in August, customer traffic in the first half of September increased by 1.2% year-on-year, orders rose by 2.0% year-on-year, and sales grew by 5.5% year-on-year.
The association predicts that, driven by the combined effects of the “Golden September and Silver October” peak season, dealer promotions, and the dual holiday effect, terminal sales of passenger vehicles for the entire month of September are expected to reach 2.2 million units.
Based on specific data feedback from dealers regarding customer traffic, sales, and inventory:
In terms of customer traffic, the first half of September saw a 1.2% increase compared to the same period in August but an 8.8% decrease compared to the second half of August.
The cool and comfortable weather in September is suitable for consumers to visit showrooms. By late September, large-scale auto shows in various regions will gradually open, and dealers may launch National Day promotional activities in advance. Customer traffic in the second half of September is expected to significantly improve compared to the first half.
| Period | MoM Growth |
|---|---|
| Early Jan | -8.0% |
| Late Jan | -36.8% |
| Early Feb | 51.8% |
| Late Feb | 0.0% |
| Early Mar | -4.2% |
| Late Mar | 1.6% |
| Early Apr | 3.4% |
| Late Apr | -2.9% |
| Early May | 18.2% |
| Late May | -5.4% |
| Early Jun | 1.8% |
| Late Jun | 5.5% |
| Early Jul | -10.4% |
| Late Jul | 16.2% |
| Early Aug | -3.7% |
| Late Aug | 11.0% |
| Early Sep | -8.8% |
Data Source: Industry Coordination and Development Committee
Regarding orders, the first half of September saw a 2.0% increase compared to the same period in August but a 16.6% decrease compared to the second half of August.
The concentrated launch of multiple new models at the end of August effectively boosted order volumes. According to predictions, the demand for vehicles due to travel during the National Day Golden Week and the peak marriage season will be released in advance in September. Order volumes in the second half of September are expected to maintain a steady growth trend.
| Period | MoM Growth |
|---|---|
| Early Jan | -17.6% |
| Late Jan | -25.9% |
| Early Feb | -4.3% |
| Late Feb | 16.7% |
| Early Mar | 3.8% |
| Late Mar | 12.3% |
| Early Apr | -27.4% |
| Late Apr | 14.7% |
| Early May | 29.7% |
| Late May | -9.6% |
| Early Jun | 4.5% |
| Late Jun | 28.7% |
| Early Jul | -28.4% |
| Late Jul | 22.6% |
| Early Aug | -7.2% |
| Late Aug | 22.2% |
| Early Sep | -16.6% |
Data Source: Industry Coordination and Development Committee
In terms of sales, the first half of September saw a 5.5% increase compared to the same period in August but a 24.2% decrease compared to the second half of August.
In September, demand for vehicles is relatively concentrated due to the back-to-school season, marriage season, and self-driving travel for the National Day holiday. This demand is expected to be rapidly released amid dealers’ quarter-end sales promotions and the approaching Mid-Autumn Festival and National Day holidays. Sales in the second half of September are projected to further increase.
| Period | MoM Growth |
|---|---|
| Early Jan | -49.5% |
| Late Jan | 21.3% |
| Early Feb | -41.3% |
| Late Feb | 45.3% |
| Early Mar | 2.7% |
| Late Mar | 27.6% |
| Early Apr | -36.1% |
| Late Apr | 39.8% |
| Early May | -11.0% |
| Late May | 10.2% |
| Early Jun | -11.8% |
| Late Jun | 41.3% |
| Early Jul | -32.3% |
| Late Jul | 28.1% |
| Early Aug | -13.5% |
| Late Aug | 39.3% |
| Early Sep | -24.2% |
Data Source: Industry Coordination and Development Committee
Inventory in the first half of September decreased slightly by 0.7% compared to the end of August. To prepare for the “Golden September and Silver October” period, some dealers proactively restocked at the end of August, leading to an increase in inventory compared to mid-August. By mid-September, dealer inventory had slightly decreased compared to the end of August.
| Period | MoM Growth |
|---|---|
| Early Jan | -3.7% |
| Late Jan | -3.1% |
| Early Feb | 0.1% |
| Late Feb | 3.5% |
| Early Mar | -0.1% |
| Late Mar | 0.4% |
| Early Apr | 2.4% |
| Late Apr | 2.7% |
| Early May | -5.4% |
| Late May | 2.8% |
| Early Jun | -1.6% |
| Late Jun | -2.9% |
| Early Jul | -0.2% |
| Late Jul | -1.8% |
| Early Aug | -2.0% |
| Late Aug | 2.7% |
| Early Sep | -0.7% |
Data Source: Industry Coordination and Development Committee
While the Chinese automotive market is experiencing its “Golden September” peak season, the new energy vehicle industry in China has also reached a milestone moment.
According to a report by CCTV News today, Yin Hejun, Minister of Science and Technology, announced at a press conference on the achievements of scientific and technological innovation during the “14th Five-Year Plan” period that cumulative sales of new energy vehicles in China have exceeded 40 million units, with production and sales ranking first in the world for 10 consecutive years.
Additionally, according to statistical analysis by the China Association of Automobile Manufacturers, from January to June this year, China’s automobile production and sales both exceeded 15 million units for the first time. Among them, production and sales of new energy vehicles reached 6.968 million and 6.937 million units, respectively, representing year-on-year growth of 41.4% and 40.3%.
The penetration rate of new energy vehicles has also continued to rise, becoming a major driving force for market growth.
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