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Investing.com - China’s retail auto sales fell 9.2% year-over-year in October 2025, reaching 2.13 million units amid dwindling government trade-in subsidies, according to Bernstein’s tracking data on mandatory first-time auto insurance volumes.
The retail seasonally adjusted annual rate (SAAR) declined to 24.9 million units from September’s 25.8 million, though it remained above Bernstein’s full-year forecast of approximately 24.5 million units.
The firm attributed the weak year-over-year performance partly to high comparison bases from last year and scarce government subsidies in selected provinces.
Chinese domestic brands showed strength despite the overall decline, with Geely, Xiaomi, SAIC, and Leapmotor recording the most incremental year-over-year volume growth. The Xiaomi YU7, Geely Xingyuan, Wuling Hongguang Mini, and Fang Cheng Bao Tai 7 emerged as the top contributors to October’s year-over-year growth.
Premium brand sales declined 5.2% year-over-year, with imported premium models dropping sharply by 21.7% while locally-built premium vehicles fell 2.3%. Bernstein characterized the premium segment’s brief rebound last month as "unsustainable," citing "relatively uncompetitive offerings" in this category.
Among luxury automakers, Mercedes registrations decreased 23% year-over-year in October, BMW fell 17%, while Audi showed relative resilience with a slight 0.2% increase, and Porsche continued its downward trend with a 20% year-over-year decline.
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