(Yicai) Jan. 10 -- Chinese car price wars could begin earlier than usual due to the timing of Lunar New Year, according to an analyst. Automakers' aggressive sales targets, ranging from double digits to over 100 percent growth, are further expected to drive discounting.

Price competition could resume as early as this quarter due to the earlier Chinese New Year holiday, Gong Min, head of China auto research at UBS Group, told local news outlets. The public holiday runs from Jan. 28 to Feb. 4.

Several electric vehicle brands have set ambitious targets. Changan Automobile's premium EV marque Avatr revealed in December its plan to sell 220,000 units in 2025, nearly triple its 2024 sales of 73,600 units, which had doubled from 2023. Dongfeng Motor's Voyah announced a target of 200,000 units this year, representing a 133 percent increase from last year.

During a year-end media briefing, Nio founder and Chairman Li Bin announced plans to double sales to around 444,000 units this year. Li described the goal as reasonable, suggesting that internal targets are even higher.

On Dec. 31, last year, Xiaomi Automotive Chairman Lei Jun announced that the phonemaker's car subsidiary aims to deliver 300,000 vehicles this year, projecting a 122 percent increase from last year.

Leapmotor targets at least 70 percent annual growth, as founder and Chairman Zhu Jiangming announced in November that the startup's 2025 sales target exceeds 500,000 units. Last year, the Hangzhou-based company delivered 293,700 cars, doubling its 2023 figures.

Geely's premium EV brand Zeekr has set more modest goals. On Jan. 2, it announced a target of 320,000 cars for 2025, up 44 percent year-over-year, following an 87 percent increase in 2024 from 2023. The conglomerate's total outlook is even more conservative. Geely, which owns brands Polestar and Lynk & Co, recently announced a goal of over 2.7 million units for this year, expecting 25 percent growth.

Late last year, Guangzhou-based GAC Group, which owns the Trumpchi and Aion brands, announced plans to increase sales by 15 percent, aiming to reverse last year's decline of over 20 percent with two million units.

Changan Automobile, manufacturer of Oshan and Deepal brands, disclosed in late December a sales target of three million units this year, representing a 12 percent increase.

Editor: Emmi Laine