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Passenger Car Manufacturing in China Industry Data and Analysis
Revenue for the Passenger Car Manufacturing in China is expected to increase at an annualized 2.7% to $642.6 billion over the past five years, including a 1.7% rise in 2025 alone, when profit is anticipated to stay relatively steady at 8.1%.As income levels in China have risen, road conditions have improved, and prices have become more competitive, passenger cars have become more affordable for Chinese residents. To meet the needs of consumers, automobile enterprises have been launching many new models to attract consumers. A series of favorable government policies have also stimulated new energy passenger vehicle purchases in rural and urban China. The total sales volume of alternative-fuel passenger cars in China domestic market increased to 11.1 million units in 2024, up 40.2% from 2023.The market share of passenger cars made by Chinese brands has been trending up. Domestic passenger car manufacturers have been enhancing brand influence through international development. Sales volume of passenger cars of Chinese brands increased to 18.0 million units in 2024, up 23.1% from 2023, and accounting for 65.4% of total sales volume of passenger cars, with an increase of 9.5 percentages over 2023.Domestic passenger car manufacturers have been promoting the electric and intelligent development of passenger cars and improving product structure. In addition, increasing numbers of domestic passenger car manufacturers have also been expanding into foreign markets, driving demand for industry exports. The industry exports have increased at an annualized 59.8% over the past five years, with exports' share of total industry revenue growing from 1.5% in 2020 to an estimated of 13.8% in 2025.ACMR-IBISWorld forecasts that the industry will increase steadily over the next five years, with revenue increasing at an annualized 1.6% over the five years through 2030, to total $694.2 billion. Domestic passenger car manufacturers are improving product quality and low pricing has led to strong acceptance in emerging countries. Exports are forecast to grow at an annualized 8.0% over the five years through 2030. Exported passenger vehicles tend to be new energy passenger cars.
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What's included in this industry analysis
IBISWorld's research coverage on the Passenger Car Manufacturing industry in China includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released April 2025.
About this industry
What's this industry report about?
The Passenger Car Manufacturing industry in China operates under the industry code 3721a. The industry primarily manufactures complete automobiles used to transport passengers. The major products manufactured in this industry include basic passenger cars, multipurpose vehicles (MPVs), sport utility vehicles (SUVs) and mini buses. Related terms covered in the Passenger Car Manufacturing industry in China include sport utility vehicle (suv), multipurpose vehicles (mpv) and 4s stores.
What's included in this industry?
Products and services covered in Passenger Car Manufacturing industry in China include MPVs, SUVs and Basic vehicles.
What companies are included in this industry?
Companies covered in the Passenger Car Manufacturing industry in China include BYD Company Limited, SAIC Motor Corporation Limited and China FAW Group Co., Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Passenger Car Manufacturing industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Passenger Car Manufacturing industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Passenger Car Manufacturing industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Passenger Car Manufacturing industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Passenger Car Manufacturing industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Passenger Car Manufacturing industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Passenger Car Manufacturing industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Passenger Car Manufacturing industry in China.
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Frequently Asked Questions
What is the market size of the Passenger Car Manufacturing industry in China in 2026?
The market size of the Passenger Car Manufacturing industry in China is $642.6bn in 2026.
How many businesses are there in the Passenger Car Manufacturing industry in China in 2025?
There are 127 businesses in the Passenger Car Manufacturing industry in China, which has grown at a CAGR of 0.8 % between 2020 and 2025.
How may import tariffs affect the Passenger Car Manufacturing industry in China?
The Passenger Car Manufacturing industry in China is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Passenger Car Manufacturing industry in China?
The Passenger Car Manufacturing industry in China is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Passenger Car Manufacturing industry in China grown or declined over the past 5 years?
The market size of the Passenger Car Manufacturing industry in China has been growing at a CAGR of 2.7 % between 2020 and 2025.
What is the forecast growth of the Passenger Car Manufacturing industry in China over the next 5 years?
Over the next five years, the Passenger Car Manufacturing industry in China is expected to grow.
What are the biggest companies in the Passenger Car Manufacturing industry in China?
The biggest companies operating in the Passenger Car Manufacturing industry in China are BYD Company Limited, SAIC Motor Corporation Limited and China FAW Group Co., Ltd.
What does the Passenger Car Manufacturing industry in China include?
Basic vehicles and MPVs are part of the Passenger Car Manufacturing industry in China.
Which companies have the highest market share in the Passenger Car Manufacturing industry in China?
The company holding the most market share in the Passenger Car Manufacturing industry in China is BYD Company Limited.
How competitive is the Passenger Car Manufacturing industry in China?
The level of competition is high and increasing in the Passenger Car Manufacturing industry in China.
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