China NEV Monthly Sales (CPCA) 2024-2026
Month
2024
2025
2026
January
673,536
744,052
596,000
February
381,626
686,000
464,000
March
718,498
991,000
848,000
April
675,484
905,000
849,000
May
796,811
1,021,000
950,000
June
856,354
1,111,000
1,007,000
July
881,021
987,000
951,000
August
1,024,848
1,101,000
1,005,000
September
1,122,467
1,296,000
1,084,000
October
1,195,018
1,282,000
November
1,266,990
1,321,000
December
1,302,599
1,337,000
China passenger NEV retail sales — CPCA
2024
2025
2026
- China’s NEV retail sales totaled 1.084 million in September, down 16.7% year-on-year for a ninth consecutive monthly decline.
- NEV exports surged 163.5% year-on-year to 558,000 in September.
China’s retail sales of new energy vehicles (NEVs) fell 16.7% year-on-year to 1.084 million in September, but rose 7.8% from August, according to data released by the China Passenger Car Association (CPCA) on Monday.
The decline marked the ninth consecutive month of falling NEV retail sales from a year earlier. Sales in the first 9 months totaled 7.758 million, down 12.8%.
NEVs accounted for a record 67.0% of passenger vehicle retail sales in September, up 9.1 percentage points from a year earlier and 1.7 percentage points from August.
China Passenger NEV Penetration at Retail 2024-2026
Month
2024
2025
2026
January
32.8%
41.5%
38.6%
February
35.8%
49.5%
44.9%
March
41.6%
51.1%
51.5%
April
43.7%
51.5%
61.4%
May
47%
52.9%
62.9%
June
48.4%
53.3%
62.8%
July
51.1%
54%
65.1%
August
53.9%
55.2%
65.2%
September
53.3%
57.8%
67%
October
52.9%
57.2%
November
52.3%
59.3%
December
49.4%
59.1%
China passenger NEV penetration at retail
2024
2025
2026
NEV penetration reached 84.5% among domestic Chinese brands and 44.9% among luxury brands, compared with just 15.9% among mainstream joint-venture brands.
NEV retail sales at domestic brands fell 19% year-on-year in September, while those at mainstream joint-venture brands rose 36% and luxury brands declined 8%. Domestic A00-segment electric vehicles suffered steep declines due to unfavorable subsidy policies, the CPCA said.
NEV wholesale sales rose 11.3% year-on-year and 10.0% month-on-month to 1.666 million in September. NEV penetration at the wholesale level reached a record 65.4%, up 12 percentage points from a year earlier.
China NEV Monthly Wholesale Sales (CPCA) 2024-2026
Month
2024
2025
2026
January
689,000
889,000
864,000
February
446,870
830,000
723,000
March
815,180
1,128,000
1,144,000
April
788,443
1,133,000
1,225,000
May
897,347
1,216,000
1,352,000
June
982,593
1,241,000
1,481,000
July
945,000
1,181,000
1,446,000
August
1,050,027
1,282,000
1,510,000
September
1,231,000
1,500,000
1,666,000
October
1,369,000
1,621,000
November
1,438,000
1,706,000
December
1,512,000
1,563,000
China passenger NEV wholesale sales — CPCA
2024
2025
2026
Battery electric vehicles (BEVs) were the only powertrain category to record wholesale growth. BEV wholesale sales rose 18.3% year-on-year to 1.126 million in September, while plug-in hybrid electric vehicle (PHEV) sales slipped 0.1% to 423,000 and extended-range electric vehicle (EREV) sales fell 4.0% to 117,000.
Exports continued to support the industry. China’s total passenger vehicle exports rose 73.7% year-on-year to 917,000 in September, accounting for 36% of automakers’ passenger vehicle sales.
NEV exports surged 163.5% year-on-year and rose 7.7% month-on-month to 558,000 in September. They accounted for 60.8% of total passenger vehicle exports, up 21 percentage points from a year earlier. NEV exports in the first 9 months rose 138.8% to 3.887 million.
China’s total passenger vehicle retail sales fell 28.0% year-on-year to 1.618 million in September, though they rose 5.0% from August. Sales in the first 9 months totaled 13.33 million, down 21.7%.
China Passenger Car Retail Sales 2024-2026
Month
2024
2025
2026
January
2,040,605
1,793,611
1,544,000
February
1,100,269
1,383,965
1,034,000
March
1,695,722
1,940,000
1,648,000
April
1,533,151
1,755,000
1,384,000
May
1,705,125
1,932,000
1,510,000
June
1,764,300
2,084,000
1,602,000
July
1,718,525
1,826,000
1,461,000
August
1,907,066
1,995,000
1,541,000
September
2,108,144
2,241,000
1,618,000
October
2,260,638
2,242,000
November
2,421,718
2,225,000
December
2,634,165
2,261,000
China passenger car retail sales
2024
2025
2026
Retail sales of gasoline-powered vehicles fell 43% year-on-year in September. Within that category, sales of conventional gasoline vehicles dropped 49%, while conventional hybrids rose 25%.
The CPCA attributed September’s retail decline to several factors. The Mid-Autumn Festival holiday fell earlier, in late September, with sales weakening notably that week. A rush to buy before subsidies expired in some provinces last September also created a high comparison base.
Meanwhile, high oil prices continued to dampen demand for gasoline vehicles. AI-driven surges in memory and chip prices, along with supply shortages, slowed the sales contribution from new NEV models, the CPCA said.
BYD (HKEX: 1211) continued to lead China’s domestic NEV retail market, with September sales of 246,816 vehicles.
Geely Auto (HKEX: 0175) and Leapmotor (HKEX: 9863) ranked second and third, with 119,682 and 78,202 vehicles, respectively.
They were followed by Tesla (NASDAQ: TSLA) with 64,837, Changan Automobile with 61,732 and SAIC-GM-Wuling with 54,810.
Chery (HKEX: 9973) recorded NEV retail sales of 46,860 in September, followed by SAIC Passenger Vehicle with 40,280 and Xiaomi (HKEX: 1810) with 40,015.
Huawei-backed HIMA (Harmony Intelligent Mobility Alliance) sold 37,490 vehicles, Nio (NYSE: NIO) sold 37,231, GWM (HKEX: 2333) sold 32,048, Li Auto (Nasdaq: LI) sold 31,817 and Xpeng (NYSE: XPEV) sold 30,599.
China’s emerging EV makers held a 23.6% share of the retail market in September, up 3.4 percentage points from a year earlier, driven mainly by Leapmotor and Nio, the CPCA said.
BEVs accounted for 75% of these automakers’ sales, up from 70% a year earlier.
Looking ahead to October, the CPCA said the month has 18 working days, unchanged from a year earlier. With the Mid-Autumn Festival holiday already over in September, more time will be available for sales, potentially helping showroom traffic recover.
Trade-in subsidies are expected to increase later this year after a slower start, contrasting with the gradual withdrawal of subsidies last October and helping stabilize the auto market, the CPCA said.
High oil prices will continue to accelerate the shift from gasoline vehicles to NEVs, with NEV penetration expected to remain above 65%, the CPCA added.
Leapmotor and Zeekr set fresh records, while Xiaomi tops 40,000 deliveries to reach its highest monthly level this year.
