BEVs will represent 28% of the Chinese market in 2025
- Based on passenger car sales figures recorded in China for the first nine months of 2025 and forecasts for the fourth quarter of the year, the market share of BEVs in China will reach 28% for the whole of this year, compared to 26% for the whole of 2024.
- BEV sales in China have been steadily growing since 2020, with their market share increasing from 21% in 2022 to 24% in 2023, 26% in 2024, and a projected 28% in 2025. At this rate, this market share could reach 30% of the Chinese market by 2026, as we do not expect BEV sales to dramatically accelerate next year despite an increasingly wide range of options and a price war that is making BEVs cheaper to buy. At the same time, this price war could force some smaller BEV carmakers to throw in the towel and reduce their offerings.
- Plug-in hybrid electric vehicles (PHEVs, including Range Extended Electric Vehicles or REEVs) appear to have halted their spectacular sales growth, as Inovev forecasts they will represent 19% of the Chinese market in 2025, the same as in 2024, whereas 2024 had marked a clear take-off in PHEV sales compared to 2022 and 2023, their market share not exceeding 11% of the Chinese market in 2023 and only 7% in 2022.
- Non-rechargeable hybrids (F-HEV) are far behind, with a market share of 4% in 2025, a slight increase compared to previous years which recorded a market share of 3%.