On a single day last month, at least eight Chinese automakers—from big names like Great Wall Motor (GWM) to such smaller players as Leapmotor—unveiled new models. Six showed off new or revamped electric vehicles or other new energy vehicles (NEVs).
Local media dubbed July 16 “Crazy Thursday” for the automotive sector, using the name of a viral weekly discount campaign by Kentucky Fried Chicken.
This rush underscores the war of attrition in the world’s largest automotive market, as companies flood China with new releases in a scramble to keep up sales.
Chinese sales of EVs, plug-in hybrid vehicles, and other NEVs grew roughly 30% last year to 16.49 million units, according to the China Association of Automobile Manufacturers. EVs sales rose 38% to 10.62 million and accounted for 31% of total automotive sales, up six percentage points from 2024.
But these figures include exports, a key growth driver. Domestic sales of NEVs rose more slowly, climbing 20% to 13.87 million.
