Overview
- Chinese brands now account for nearly 70% of passenger-car sales, while Mercedes-Benz reported a 27% year-over-year China sales drop in Q3, BMW/MINI fell 11.2% in the first nine months, and Ferrari deliveries to China declined 13% in the first three quarters.
- Resale values for high-end models have slumped, with Beijing dealers citing steep discounts such as a 2024 Porsche Panamera reselling for about 950,000 yuan after an original price near 1.4 million yuan.
- BYD said its 15 millionth new energy vehicle is imminent as 2025 year-to-date sales reached 4.18 million through November, its Dolphin passed 1 million units, and its ‘DiPilot’-equipped fleet exceeds 2.3 million vehicles generating over 150 million kilometers of driving data daily.
- Huawei reported Level 2 driver-assistance penetration in new energy vehicles reached 50% in five years, with its ADS systems logging 5.8 billion kilometers of assisted driving and monthly active usage exceeding 95%.
- China’s AI core industry is projected to surpass 1.2 trillion yuan in 2025 even as Oracle delays multiple OpenAI ‘Stargate’ data centers to 2028 due to labor and materials constraints and testimony details Kenyan workers posing as chatbots for $0.05 per message.