China 2025: Stagnant domestic demand – production driven by exports
- According to the China Association of Automobile carmakers (CAAM):
• The production volume of passenger cars in China was set at 30,269,903 units in 2025, compared to 27,476,886 in 2024, representing an increase of 10.2%.
• Global deliveries (production sold in China + exports) reached 30,103,140 units in 2025, compared to 27,562,989 in 2024, representing an increase of 9.2%.
• Exports from China amounted to 6,037,959 units in 2025 compared to 4,955,134 in 2024, thus increasing by more than one million units year on year (+21.9%).
- According to the China Passenger Car Association (CPCA), 23.26 million passenger vehicles were sold in China in 2025, compared to 23.37 million in 2024, representing a decrease of 0.5%. This decrease reflects both domestically produced vehicles and imports (estimated at 700,000 vehicles in 2024 and 400,000 in 2025). The increase in Chinese automobile production in 2025 is therefore the result of exports and stockpiling, and not a consequence of increased domestic demand.
- Of the 6,037,959 cars exported from China in 2025, four Chinese exporters stand out from their competitors : Chery (1.3 million cars exported in 2025), BYD (1 million units exported), SAIC (0.9 million units exported) and Geely (0.6 million units exported) accounted for 3.8 million units exported, or two-thirds of Chinese exports.