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
September
1,122,467
1,296,000
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 penetration rose to a record 65.1% in July as demand for gasoline-powered vehicles continued to collapse.
- NEV exports surged 147.8% year-on-year in July, accounting for 58.8% of China’s total passenger vehicle exports.
China’s retail sales of new energy vehicles (NEVs) continued to decline in July, even as their market penetration climbed to a record high amid a continued collapse in demand for gasoline-powered vehicles as fuel prices remained elevated.
Retail sales of passenger NEVs in China reached 951,000 units in July, down 3.9% year-on-year and 5.8% from June, according to data released Tuesday by the China Passenger Car Association (CPCA).
That marked the seventh consecutive month of year-on-year declines in NEV retail sales. In the first 7 months of the year, cumulative retail sales totaled 5.668 million units, down 12.5% year-on-year.
NEVs continued to rapidly expand their market share despite the sales decline. Retail penetration reached a record 65.1% in July, up 11.6 percentage points from a year earlier and 2.1 percentage points from June.
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%
September
53.3%
57.8%
October
52.9%
57.2%
November
52.3%
59.3%
December
49.4%
59.1%
China passenger NEV penetration at retail
2024
2025
2026
China’s overall passenger vehicle retail sales totaled 1.461 million units in July, down 20.9% year-on-year and 8.8% month-on-month.
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
September
2,108,144
2,241,000
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
The pressure came almost entirely from gasoline-powered vehicles. Retail sales of conventional internal-combustion-engine passenger vehicles fell 41% year-on-year in July, with pure gasoline vehicles down 44% and conventional hybrids down just 4%.
The CPCA said disruptions to shipping through the Strait of Hormuz had pushed up international oil prices, while domestic gasoline prices in China had risen by a cumulative 1,575 yuan ($232) per ton in 2026, significantly increasing vehicle operating costs.
Battery electric vehicles (BEVs) remained the main pillar of the NEV market. Retail sales reached 647,000 units in July, up 6.0% year-on-year but down 5.9% from June.
China Passenger BEV Retail Sales 2024-2026
Month
2024
2025
2026
January
379,000
419,000
348,000
February
219,963
427,000
278,000
March
428,000
646,000
568,000
April
405,198
559,000
579,000
May
495,825
607,000
637,000
June
492,945
661,000
685,000
July
487,000
607,000
647,000
August
580,718
686,000
September
643,000
826,000
October
673,000
812,000
November
758,000
827,000
December
762,000
782,000
China passenger BEV retail sales
2024
2025
2026
Plug-in hybrid electric vehicle (PHEV) retail sales were 219,000 units, down 21.1% year-on-year and 9.1% month-on-month.
China PHEV Monthly Sales 2024-2026
Month
2024
2025
2026
January
209,000
250,000
172,000
February
109,000
199,000
134,000
March
215,000
268,000
204,000
April
207,000
260,000
192,000
May
225,000
298,000
228,000
June
253,000
334,000
241,000
July
279,000
278,000
219,000
August
338,000
314,000
September
361,000
360,000
October
405,000
361,000
November
391,000
378,000
December
419,000
410,000
China PHEV monthly sales
2024
2025
2026
Extended-range electric vehicle (EREV) retail sales totaled 85,000 units, down 16.5% year-on-year but up 4.3% from June.
China EREV Monthly Sales 2024-2026
Month
2024
2025
2026
January
85,000
75,000
76,000
February
53,000
60,000
52,000
March
74,000
77,000
76,000
April
65,000
86,000
79,000
May
77,000
116,000
85,000
June
107,000
116,000
82,000
July
115,000
102,000
85,000
August
106,000
100,000
September
118,000
109,000
October
117,000
109,000
November
121,000
116,000
December
122,000
145,000
China EREV monthly sales
2024
2025
2026
Exports continued to serve as a key growth engine for the industry. China exported 540,000 NEVs in July, surging 147.8% year-on-year and rising 8.1% from June.
NEVs accounted for 58.8% of total passenger vehicle exports, up 14 percentage points from a year earlier.
China’s total passenger vehicle exports reached 918,000 units in July, up 87.8% year-on-year.
NEV wholesale sales totaled 1.446 million units in July, up 21.3% year-on-year, while wholesale NEV penetration reached a record 64.2%.
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
September
1,231,000
1,500,000
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
China Passenger NEV Penetration at Wholesale 2024-2026
Month
2024
2025
2026
January
32.6%
42.3%
43.8%
February
34.5%
47%
47.6%
March
37%
46.8%
48.1%
April
39.9%
51.7%
58%
May
44.2%
52.6%
61.1%
June
45.3%
49.8%
62.8%
July
48.1%
53.2%
64.2%
August
48.9%
52.2%
September
49.1%
53.5%
October
50.1%
55.3%
November
48.9%
56.9%
December
49.2%
56%
China passenger NEV penetration at wholesale
2024
2025
2026
BYD (HKEX: 1211) retained its lead in July, with domestic NEV retail sales of 223,461 units.
Geely Auto (HKEX: 0175) and Leapmotor (HKEX: 9863) ranked second and third with 105,526 and 83,698 units, respectively.
Changan Automobile (SZSE: 000625) recorded domestic NEV retail sales of 59,907 units in July, followed by SAIC-GM-Wuling with 48,967 units and Huawei-backed HIMA (Harmony Intelligent Mobility Alliance) with 45,422 units.
Chinese EV startups accounted for 26.8% of retail sales in July, up 5.4 percentage points from a year earlier, driven mainly by Leapmotor and Nio (NYSE: NIO).
The CPCA expects the decline in China’s auto market to steadily narrow in August as policies aimed at supporting consumption take effect and the comparison base becomes more favorable.
Nio, Xpeng and Li Auto all posted sequential declines, while Leapmotor and Zeekr reached new highs.
($1 = 6.7900 yuan)
