According to industry analysis, China's share of the global automotive market continues to expand. In November, China's global share rebounded to a high of 40%, and remained at a favorable level of 37% in December. For the full year of 2025, China's automotive market share reached 35.6% worldwide, representing a year-on-year increase of 1.4 percentage points.
In detail, global vehicle sales from January to December 2025 grew by 5%. Within this, China's vehicle sales reached 34.35 million units, an increase of 9%. The United States saw sales of 16.72 million units, up 1%; India recorded sales of 5.58 million units, up 7%; Japan's sales were 4.56 million units, up 3%; and Germany's sales totaled 3.16 million units, an increase of 1%. Currently, the Chinese market appears the most dynamic, with rapid growth. The Russian market experienced a severe decline, Mexico's growth slowed, while markets like Argentina in South America performed relatively well.
Among the world's top 10 automakers this year, three Chinese automakers showed strong share increases. Byd Company Limited (002594.SZ) rose to 5th place globally, GEELY AUTO (00175) ranked 7th, and CHERY AUTO (09973) reached 10th place. The shift towards electrification has also contributed to the gradual decline of some international automakers. Excluding the temporary strength in the U.S. market and positive factors in markets like India for Suzuki, other international brands saw substantial and widespread declines in market share.
1. Monthly Global Vehicle Sales Trend Global vehicle sales from January to December 2025 were relatively stable. As the Chinese New Year fell in January 2025, lower sales during that period contributed to slower global growth for the month. From February to December, the global market performed strongly, with Chinese automakers contributing significantly to growth from February to September. However, from October to December, the Chinese market was sluggish, leading to a slowdown in global sales growth. Global vehicle sales in December 2025 reached 8.86 million units, up 2% year-on-year. With relative slowdowns in both the Chinese and U.S. markets, global sales growth moderated in December 2025. Total sales for January-December 2025 reached 96.47 million units, a 5% increase year-on-year.
After consecutive declines from 2018 to 2020, vehicle sales in major global markets recovered to 81.35 million units in 2021, up 4% year-on-year, showing a solid post-pandemic rebound. However, sales dropped to 80.18 million units in 2022, down 1% year-on-year, only slightly higher than 2020 figures. Global vehicle sales reached 89.01 million units in 2023, an 11% increase. The total for 2024 was 91.77 million units, surpassing 2019 levels and returning to a reasonable range. In 2025, with favorable global economic conditions and robust automotive markets in India, Vietnam, and the United States, preliminary statistics indicate global vehicle sales reached 96.47 million units.
2. Historical Global Vehicle Sales Trend The global vehicle sales figures referenced primarily cover 70 countries, which accounted for approximately 90 million units in 2019. These core countries provide monthly trackable data. Due to frequent conflicts, global data compilation has slowed in recent months. Another approximately 100 countries are only trackable annually, contributing around 3 million units in recent years. Compared to the 80 million units from the 70 major countries, these smaller markets represent about 3% of the total and have minimal impact.
Looking at global sales represented by these major countries, a downward cycle began after 2018, reaching a trough in 2020. Recovery started in 2021. The 5% growth in global sales from January to December 2025 is a strong performance, with China's 9% market growth making a massive contribution. The comprehensive performance of the Chinese automotive market this year exceeded expectations, consistently leading global growth.
3. China's 2025 Sales Maintain Leadership Position The Chinese automotive market holds immense influence over the global market. From 2016 to 2018, China accounted for about 30% of world vehicle sales. This share dropped to 29% in 2019 but maintained an absolute advantage. It rebounded to 32% in 2020-2021, rose to 33.5% in 2022, held at 33.8% in 2023, reached 34.2% in 2024, and achieved a 35.6% global share from January to December 2025. Lower sales at the start of the year for Chinese automakers reflect the normal impact of the Lunar New Year. As policy stimulus measures took effect, the Chinese market showed sustained strength from March onward, with particularly prominent share growth in the autumn and winter.
4. Significant Strengthening in Developing Markets Globally, developed markets in Europe and America have shown relatively better performance, reflecting the objective reality that vehicle affordability is linked to wealth and requires lower costs. The Russian market was in gradual recovery during 2023-2024, leading to high sales and profits for Chinese independent automakers. However, the Russian market declined significantly in 2025, with its share dropping to 1.5%. The Chinese automotive market has generally performed well, with its share continuously increasing since 2020. It reached 33.8% in 2023, 34.2% in 2024, and 35.6% for January-December 2025, an increase of 1.4 percentage points compared to the same period.
5. Performance of Global Markets Global vehicle sales from January to December 2025 increased by 5%. China's sales of 34.35 million units grew by 9%, the U.S. saw 16.72 million units (up 1%), India 5.58 million units (up 7%), Japan 4.56 million units (up 3%), and Germany 3.16 million units (up 1%). The Chinese market currently appears the most vibrant with fast growth. Russia's market declined severely, Mexico's growth slowed, while markets in South America, such as Argentina, performed relatively well.
6. Trend of China's Global Market Share Global markets became more polarized in 2025, with China's share gradually recovering. Early in the year, the phased launch of new subsidy policies led to a rebound in Chinese vehicle sales, with January's share reaching 34%. However, due to the Lunar New Year in February and temporarily high figures in markets like the U.S. and Japan, China's global share fell to 31% in February. Driven by trade-in subsidies, China's global automotive share continued to rise, rebounding to 40% in November. In December, it decreased slightly to 37%, down 3 percentage points from the previous year. As the Chinese automotive market gradually normalized in 2025 and exports recovered, China's sales share continued to strengthen. From March to December 2025, the Chinese market warmed further, with its monthly sales share consistently surpassing previous historical highs.
7. Characteristics of Monthly Sales Trends by Country Monthly sales growth trends across major countries generally maintained balance between months. However, influenced by seasonal and annual factors, significant disparities remained between countries. As China's market is still in a phase of private vehicle popularization, it shows relative strength at the beginning and end of the year, with softer performance mid-year. The U.S. market, in contrast, starts the year relatively weak and remains stable mid-year. The U.S. market was weaker from October to December this year, while the Indian market was stronger.
8. Performance of International Groups' Global Share The chart illustrates the global sales share trends of major automotive groups. Based on comprehensive performance, shares of leading international automakers have declined noticeably, while Chinese automakers have generally performed strongly. With the rising status of China, Russia, and India in the global automotive market, and the strong performance of Asian automakers like GEELY AUTO, Byd Company Limited, CHERY AUTO, Chang'an, and Suzuki, Asian automakers have shown favorable production and sales trends. European automakers have generally underperformed. Among the world's top 10 automakers this year, three Chinese companies saw strong share increases: Byd Company Limited reached 5th place globally, GEELY AUTO 7th, and CHERY AUTO 10th.
9. Regional Share Performance of International Groups The trend shows the East rising and the West declining, with Chinese autonomous brands comprehensively increasing their global share. Independent brands like Byd Company Limited, GEELY AUTO, CHERY AUTO, SAIC, and Chang'an performed strongly. Apart from Suzuki and Tata, which benefited from strong performance in the Indian market, other international brands experienced substantial declines in share throughout 2025.
Asian automakers were strong. From January to December 2025, the Toyota group performed relatively well, though its share was down 0.4 percentage points compared to 2019. Toyota maintained a global share of around 10.8% in 2025, supported by its overall strength in European and North American markets. Hyundai Motor Group's performance was stable, reaching a 7.4% share for Jan-Dec 2025, down 0.4 points from 2019. The Korean group performed well in North America and other Asian markets but remained weak in China due to less competitive products. Suzuki's market performance was strong, primarily driven by markets like India and Japan. The Honda group also performed poorly compared to 2019, down 2.1%, with weak performance in China.
European automakers were generally weak from January to December 2025. Renault-Nissan's share fell 3.7% compared to 2019, while Stellantis and Volkswagen performed relatively weakly, with Volkswagen's share down 3.2% from 2019, facing significant pressure in the Chinese market. However, Volkswagen Group showed considerable improvement in other global markets, with a notable recovery in Southern Hemisphere markets.