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OIL: China New Energy Vehicle Growth to Remain Strong

OIL
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Analysts expect China’s new energy vehicle growth to remain strong due to consumer goods and equipment trade-in program policies, according to China Securities Journal cited by Bloomberg.

  • Annual NEV production and sales both surpassed 10 million for the first time in 2024, according to the report.
  • NEV sales are forecast to grow nearly 30% y/y in 2025 to around 16.5 million including exports. Overall automotive sales are expected to reach approximately 32 million in 2025. Domestic NEV sales are projected at 15 million.
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Analysts expect China’s new energy vehicle growth to remain strong due to consumer goods and equipment trade-in program policies, according to China Securities Journal cited by Bloomberg.

  • Annual NEV production and sales both surpassed 10 million for the first time in 2024, according to the report.
  • NEV sales are forecast to grow nearly 30% y/y in 2025 to around 16.5 million including exports. Overall automotive sales are expected to reach approximately 32 million in 2025. Domestic NEV sales are projected at 15 million.