August Passenger Vehicle Market Review: NEVs Dominate Key Segments, Budget Models Shine, and SUV Newcomers Make a Splash
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As the auto market’s "anti-involution" efforts deepen, price-cutting activities have moderated since the summer, and sales growth has slowed accordingly. Nevertheless, China’s passenger vehicle market still reached a new high in August: retail sales hit 1.995 million units, up 4.6% year-on-year (YoY) and 8.2% month-on-month (MoM). The retail penetration rate of new energy vehicles (NEVs) climbed to 55.2%, with battery electric vehicles (BEVs) leading the growth momentum—highlighting NEVs’ increasingly central role in the market. Below is a detailed breakdown of performance across sedan and SUV segments, along with top-selling models.
Sedan Segment: Budget NEVs Take Center Stage, BYD No Longer Dominates Alone
In the sedan market, budget NEVs priced around or below RMB 100,000 remain mainstays in the top 10 sales ranking. Chinese brands continue to be the core force behind NEV sedans, while overseas brands cling to their strength in traditional fuel-powered vehicles—setting the stage for another showdown between "established players" and "new forces."
Fuel-powered sedans still hold their ground. The once top-selling Nissan Sylphy retains competitiveness in the NEV era, securing 4th place on the sedan list. Volkswagen Lavida (7th) and Volkswagen Sagitar (10th) are also regulars. Notably, three more fuel models will soon undergo generational updates: the all-new Sagitar L, with a pre-sale price starting at RMB 119,900 and lifetime free basic maintenance for the first owner, signals overseas brands’ "lowered stance" to boost competitiveness post-upgrade.
NEV sedans, meanwhile, are no longer a BYD monopoly. Geely, Wuling, and Xiaomi have broken into the top 10, though BYD still claims 4 spots—remaining the most powerful brand. While plug-in hybrids (PHEVs) remain BYD’s mainstay, BEV market share is growing rapidly, reflecting shifting consumer preferences. For example, BYD Qin L EV accounts for 1/3 of the model’s total sales (8,590 units vs. 16,790 units for Qin L DM-i), and Seal 06 EV makes up 40% of its series sales (9,733 units vs. 14,620 units for Seal 06 DM-i).
The sub-RMB 100,000 segment is fully dominated by BEVs, with the top two sedan models falling into this category.
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1st Place: Geely Xingyuan (46,057 units sold): Equipped with advanced Electric-Powertrain-Three-in-One (EPT) technology and an integrated 11-in-1 electric drive system, it offers extra passenger/storage space—including a 70L frunk—and safety features like an "eye-shaped" aluminum alloy battery pack. Its rear-mounted rear-wheel drive (RWD) and multi-link independent suspension were previously unheard of in sub-RMB 100,000 models. Powered by CATL’s lithium iron phosphate (LFP) batteries, it delivers a 410km CLTC range and 21-minute fast charging (30%-80%), plus the Flyme Auto infotainment system co-developed with Meizu. Despite a starting price of just RMB 68,800, quality remains uncompromised, driving its market success.
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2nd Place: Wuling Hongguang MINIEV (37,828 units sold): Another sub-RMB 100,000 EV, it continues to innovate—following the 3rd-generation model launch in late 2023, a four-door version debuted this year. It retains affordability while upgrading features: ESC active/passive safety systems, wider seating/storage, 35-minute fast charging (30%-80%), 8.9kWh low power consumption, and a 205km CLTC range. With a starting price of RMB 44,800, it has made car ownership accessible to more consumers.
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3rd Place: BYD Qin PLUS (35,800 units sold): A pioneer in bringing NEV compact three-box sedans under RMB 100,000, its top-tier Qin PLUS DM-i trim even stays below RMB 100,000 after terminal discounts. This pricing has accelerated NEV adoption and forced overseas brands to cut prices on compact fuel sedans to enter the sub-RMB 100,000 range—ultimately benefiting consumers. This year, BYD added the "TianShen ZhiYan C" (Heavenly Eye C) system to Qin PLUS, equipping sub-RMB 100,000 models with highway ADAS (Advanced Driver Assistance Systems) and significantly enhancing their active safety capabilities.
SUV Segment: Three New Models Become "Blockbusters" Right After Launch
While detailed sales data for top SUV models will be analyzed further, the segment’s biggest highlight is the performance of three new models—dubbed "blockbusters" for their immediate success upon launch. These models have quickly disrupted the SUV market with competitive pricing, advanced features, and alignment with consumer demand for NEVs, marking a new phase of competition in the SUV segment where "newcomers" are challenging established players.
Overall, August’s passenger vehicle market reflects two key trends: NEVs (especially budget BEVs) are solidifying their dominance, and both Chinese and overseas brands are adjusting strategies to compete in high-potential price ranges—ultimately driving market diversity and delivering greater value to consumers.