New Energy Vehicle Wholesale Sales Increased 12% in September 2026
China's wholesale sales of new energy vehicles were estimated at 1.67 million units in September 2026, a 12% increase year-over-year. The growth indicates a recovery trend in the sector.
China's wholesale sales of new energy vehicles were estimated at 1.67 million units in September 2026, marking a 12% increase year-over-year and an 11% rise from the previous month. This double-digit growth signifies a recovery for the sector following a period of adjustment, with the growth rate of new energy vehicles significantly outpacing the overall automotive market.
The market analysis indicated that September's wholesale performance was characterized by moderate overall growth coupled with significant structural differentiation. Sustained high oil prices are suppressing demand for internal combustion engine vehicles, creating an opportunity for new energy vehicle adoption. However, uncertainties in supply chains and trade environments due to overseas geopolitical conflicts, along with a high base from the previous year's "trade-in" subsidies, contributed to the slowdown in wholesale growth. The timing of the Mid-Autumn Festival in late September also impacted production and sales fluctuations.
Several major automakers reported record-breaking wholesale sales for new energy vehicles in September, underscoring the success of domestic manufacturers' transition to electrification. The top five new energy vehicle manufacturers for the month were BYD, Geely, Chery, Leapmotor, and Changan, all of which experienced robust year-over-year and month-over-month sales growth, stabilizing the upward trend.
The shift towards electrification has become a widespread industry consensus, driven by accelerated technological advancements and new model introductions. This has led to sustained improvements in market performance, with companies like SAIC-Volkswagen and SAIC-GM seeing their new energy vehicle sales more than double year-over-year. Other manufacturers, including Changan Mazda and Chery, reported growth exceeding 50%.
In summary, the estimated wholesale sales for new energy vehicles in September 2026 reached 1.67 million units, reflecting a 12% year-over-year increase and an 11% month-over-month rise.