Mid-Year Payment Terms of Major Automakers: GAC, Geely, and BYD Lead in Fastest Payments

Recently, the semi-annual reports for 2025 from major domestic car manufacturers have been released. Looking back at the first half of this year, competition in the automotive industry has gradually intensified, and achieving symbiotic and win-win relationships with upstream suppliers has become an important factor for car manufacturers to maintain their development resilience. Among these, the payment cycle to suppliers, as a key indicator, has attracted significant attention within the industry.

According to Wind data, the average payment period from ten major domestic car manufacturers to their upstream suppliers in the first half of this year was 182 days. Among them, GAC, Geely Holding, and BYD had the shortest payment periods, at 137 days, 139 days, and 142 days respectively, while some car manufacturers had payment periods exceeding 200 days.

From the perspective of the trend, the payment cycle of 60% of car companies has increased compared to the same period last year. Among the companies with decreased payment cycles, XPeng reduced by 104 days, SAIC reduced by 28 days, Changan reduced by 12 days, and BYD reduced by 10 days.

Analysis suggests that supply chain management has become key for automotive companies to enhance their core competitiveness. Leading companies, in particular, proactively shortening the payment terms for suppliers is beneficial for improving the synergy of the industrial chain, forming a more efficient supply system, and thus driving the industry into a virtuous cycle of high-quality development.