China's September NEV Wholesale Sales Hit 2026 Peak of 1.67 Million, CPCA Estimates

China’s new energy vehicle wholesale shipments are estimated to have climbed to 1.67 million units in September 2026, a figure that would stand as the highest monthly total so far this year, according to preliminary data from the China Passenger Car Association (CPCA). The estimate points to a 12 percent gain over the same month a year earlier and an 11 percent increase from August, continuing a rebound that began the previous month.

The expansion was driven largely by export demand. The CPCA attributed the momentum to overseas oil prices staying elevated for longer than anticipated, which fed robust appetite for Chinese NEVs in foreign markets. At the same time, domestic retail activity lost ground, with weekly tracking showing passenger NEV retail sales down 20 percent year-on-year through the first 27 days of September. The association pointed to a demanding comparison base: a wave of purchasing ahead of tighter trade-in subsidy rules in some regions a year earlier, plus disruption from the Mid-Autumn Festival holiday, weighed on the domestic picture late in the month.

Through the first nine months of 2026, cumulative passenger NEV wholesale volume reached roughly 11.42 million units, an increase of about 10 percent compared with the same period last year. The gap between wholesale and retail performance underscores how uneven conditions remain across manufacturers and regions, even as NEVs continue to outpace the broader passenger vehicle market.

BYD led the wholesale rankings by a wide margin with 456,713 units, followed by Geely at 188,800 and Chery at 127,486. Leapmotor (105,656) and Changan (102,968) rounded out the top five. Each of those five automakers posted gains on both a yearly and monthly basis. Tesla’s China operations came in sixth at 95,366 units, ahead of SAIC-GM-Wuling at 77,670 and SAIC Passenger Vehicle at 62,000. Further down the list, Xpeng recorded 41,256 units, while Xiaomi Auto reported more than 40,000 and Nio reached 37,408.

The CPCA built its projection from preliminary figures supplied by major automakers. Brands with wholesale NEV volumes above 10,000 units in August represented a combined 93 percent of that month’s total; their September figures added up to about 1.55 million, and applying the prior month’s market share yielded the nationwide estimate of 1.67 million. The association also expects September NEV retail sales of about 1.11 million, translating to a 65.7 percent share of overall passenger car sales — a record penetration level.