Recently, Chinese automakers have unveiled their August sales figures, shedding light on the trajectory of the nation's auto sales in 2025. Analyzing the performance of BYD, Geely, Chery, Changan, and Great Wall Motors, China's "top five" automakers, we've distilled each company's performance into a single keyword: dominant, unmatched, stable, declining, and surprising. Let's delve into the significance of these terms.

Geely: 250,100 Vehicles – Unmatched Dominance!

According to Geely Automobile Group, the company (including Geely, Zeekr, and Lynk & Co) sold 250,100 vehicles in August, with cumulative sales of 1,897,000 vehicles from January to August, marking a 47% year-on-year increase.

Despite BYD's strong showing, Geely tops the list due to its astonishing performance this year, reflecting broader trends within the large automaker segment. Initially setting a sales target of 2.71 million vehicles for 2025, Geely later adjusted this to 3 million vehicles following its mid-year results announcement.

Based on 2024 sales, Geely's cumulative sales from January to August (1,287,700 vehicles) suggest an annual sales volume of 2,176,500 vehicles, or 59.16% of the first eight months. Applying this ratio to 2025's first eight months, Geely is projected to sell 3,206,500 vehicles, surpassing its adjusted target of 3 million vehicles by nearly a month's worth of sales. This sales trend highlights Geely's outstanding performance, stability, and surprising growth in the Chinese market throughout 2025.

BYD: 373,600 Vehicles – Still Dominant

BYD announced sales of 373,600 vehicles in August, virtually unchanged from the 373,000 vehicles sold in the same period last year. From January to August 2025, BYD's cumulative sales reached 2,863,800 vehicles, a 22.99% year-on-year increase from 2,328,400 vehicles sold in the same period in 2024.

In terms of annual sales, BYD sold 4,272,100 vehicles in 2024, with the first eight months accounting for 54.50%. This ratio suggests an estimated annual sales volume of approximately 5,254,600 vehicles for 2025, slightly short of its 5.5 million target but still impressive.

BYD's rapid growth has faced misunderstandings and misperceptions. However, its rise is far from accidental, embodying China's economic ascent. For instance, despite criticism for "domestic competition," BYD has slightly adjusted its pricing strategies but continues to set new lows in respective sub-market segments or for similar models within the same brand, indicating that "price competition" remains prevalent in China.

Chery Group: 242,700 Vehicles – Stability as the Priority

Chery Group reported sales of 242,700 vehicles in August, a 14.6% year-on-year increase. Cumulative sales from January to August reached 1,727,200 vehicles, up 14.5% from the same period last year.

With a 2025 sales target of 3 million vehicles, Chery Group has achieved 57.57% of its target. In 2024, Chery sold 2,603,900 vehicles, with the first eight months accounting for 57.92%. Based on this trend, Chery's sales target for 2025 appears on track, underscoring its remarkable stability.

Changan Automobile: 233,000 Vehicles – Significant Profit Decline

Changan Automobile sold 233,000 vehicles in August, a 24.50% year-on-year increase from 187,117 vehicles sold in the same period last year. Cumulative sales from January to August 2025 reached 1,798,800 vehicles, up 6.3% from the same period last year.

In 2024, Changan sold 2,683,000 vehicles, with the first eight months accounting for 63%. This ratio suggests an estimated annual sales volume of 2,855,000 vehicles for 2025, falling short of its 3 million target by about 150,000 vehicles.

Currently, Changan is the only top-four Chinese automaker failing to meet expected sales growth. However, on July 29, 2025, Changan Automobile was spun off from China South Industries Group Corporation, becoming the third automotive central enterprise directly under the State-owned Assets Supervision and Administration Commission of the State Council, following FAW Group and Dongfeng Motor Corporation. This spin-off grants Changan greater decision-making autonomy, though its market performance remains to be seen.

Great Wall Motors: 115,500 Vehicles – Significant Increase in Profit per Vehicle

Great Wall Motors sold 115,500 vehicles in August, a 22.33% year-on-year increase from 94,400 vehicles sold in the same period last year. From January to August 2025, cumulative sales reached 789,700 vehicles, up 5.94% from the same period last year.

In 2024, Great Wall Motors sold 1.23 million vehicles, with the first eight months accounting for 60.60%. This ratio suggests an estimated annual sales volume of approximately 1.3 million vehicles for 2025, representing a slight increase over the previous year.

Comparison of Average Profit per Vehicle Among China's "Top Five" Automakers

While Great Wall Motors' year-on-year growth rate may appear modest compared to BYD, Geely, and Chery, it excels in financial performance. In 2024, Great Wall Motors sold 1.23 million vehicles with a net profit of 12.69 billion yuan, up 80.73% year-on-year. Geely sold 2.1765 million vehicles with a full-year net profit of 16.632 billion yuan, up 213.32% year-on-year. BYD sold 4.2721 million vehicles with a full-year net profit of 40.254 billion yuan, up 34.00% year-on-year.

Changan Automobile reported a net profit of 7.321 billion yuan in 2024, down 35.37% year-on-year, with total sales of 2.683 million vehicles. Chery Group, a privately held company, reported a net profit of 11.312 billion yuan from January to September 2024, with global sales exceeding 1.54 million vehicles.

In 2024, Great Wall Motors earned approximately 10,300 yuan per vehicle, BYD approximately 8,400 yuan, Geely approximately 7,600 yuan, Chery approximately 7,300 yuan, and Changan approximately 2,700 yuan. Great Wall Motors thus boasts the highest profit per vehicle among China's "top five" automakers.

Based on 2025's first-half results, BYD's net profit attributable to shareholders was 15.5 billion yuan, with cumulative sales of 2.146 million vehicles, resulting in a profit per vehicle of approximately 7,200 yuan. Geely reported a net profit of 9.29 billion yuan, with cumulative sales of 1.409 million vehicles, yielding a profit per vehicle of approximately 6,590 yuan. Changan's net profit was 2.29 billion yuan, with cumulative sales of 1.355 million vehicles, resulting in a profit per vehicle of approximately 1,700 yuan. Great Wall Motors reported a net profit of 6.337 billion yuan in the first half, with cumulative sales of 568,900 vehicles, resulting in a profit per vehicle of 11,100 yuan.

This indicates that BYD, Geely, and Changan have all seen significant declines in profit per vehicle in 2025, with BYD's decline reaching 14%, Geely's 13%, and Changan's 37%. Only Great Wall Motors has seen an increase in profit per vehicle in 2025, up approximately 8%. This underscores Great Wall Motors' stability and commitment to high-quality development among China's traditional "top five" automakers.

From the sales and operating performance of BYD, Geely, Chery, Changan, and Great Wall Motors from January to August 2025, it's evident that Geely Automobile may be the only Chinese automaker to exceed its sales target by over 1 million vehicles, with annual sales projected to reach 3.2 million vehicles. Hence, "unmatched" aptly describes Geely's 2025 performance.

Due to government restrictions against malicious "internal competition," BYD may miss its 2025 sales target of 5.5 million vehicles. Nonetheless, BYD remains the top-selling Chinese automaker, with annual sales projected to reach at least 5.25 million vehicles. Monthly sales continue to dominate charts, making "dominant" an apt descriptor for BYD in 2025.

Consistent with its external image, Chery Group remains stable, with annual sales projected to reach 2.98 million vehicles, closely aligning with its 3 million target. Thus, "stable" aptly describes Chery's 2025 performance.

Due to slower development in its new energy vehicle segment, the slow growth of its "Project One" Avatar brand, and corporate adjustments in 2025, Changan Automobile may be the only automaker among China's "top five" to miss its annual sales target, accompanied by a significant decline in profit per vehicle. Therefore, "declining" accurately describes Changan's current situation.

Great Wall Motors has transitioned from sales comparable to Geely, Changan, and Chery years ago to annual sales volumes recently less than half of those companies. However, it has achieved growth in profits, with profit per vehicle far exceeding other automakers mentioned. Given current government restrictions against malicious "internal competition," Great Wall Motors stands out as the only Chinese automaker with annual sales exceeding 1 million vehicles truly pursuing "high-quality development." Thus, "surprising" best describes Great Wall Motors' remarkable journey.