In July 2024, the monthly retail penetration rate of new energy passenger vehicles in China surpassed 50% for the first time, 11 years ahead of schedule. Domestic brands accounted for more than 90% of this market. However, nearly all players have been dragged into a price war. This price war has reflected intense competition in the auto industry, with new and old players, production capacity, and technologies clashing fiercely to generate tremendous momentum.
This momentum introduces uncertainty and creates suspense in every aspect of the industry. On the market side, will cars still sell well in 2025, and what kind of vehicles will consumers choose? On the technology front, why has range-extending technology, long dismissed as transitional, suddenly regained popularity? In terms of competition, how will Chinese automakers navigate global markets and overcome challenges on their journey abroad? Joint venture carmakers, once dominant in China’s consumer market, are now in decline—where are they headed? And why are futuristic concepts like flying cars and embodied robots all trying to ride the “auto industry wave”?
Looking back at 2024 and ahead to 2025, the automotive industry stands at a new turning point: the appearance of cars will change, and so will the companies that build them. By answering eight major questions, Caijing explores the future of the auto industry in 2025, a pivotal year of transformation for the industry.
