In July 2026, China's NEV passenger vehicle wholesale sales reached 1.47 million units, up 23% year-on-year. BYD led with 411,000 units. Chery and Leapmotor both saw growth exceeding 100%, with leading OEMs continuing to expand their advantages.
Core Data: July NEV Market Fully Recovers
According to comprehensive data from China Automotive Data Research and CPCA, China's NEV passenger vehicle market delivered standout performance in July 2026: wholesale sales reached 1.47 million units, up 23% year-on-year, with only a 1% month-on-month decline. Against a backdrop of overall market pressure and contraction, NEVs have become the core growth driver of the passenger vehicle market, with the divergence between ICE and NEV further intensifying.
This achievement is particularly notable—July is traditionally an off-season for auto consumption, with high temperatures and frequent rainfall expected to suppress demand. Yet NEVs achieved off-season growth through product competitiveness and value-for-money advantages.
July NEV Market Key Indicators
| Indicator | Data | YoY Change | MoM Change |
|---|---|---|---|
| NEV Wholesale Volume | 1.47 million units | +23% | -1% |
| NEV Retail Volume | 980,000 units | — | — |
| NEV Penetration (Retail) | 64.5% | New Record | — |
| Passenger Vehicle Retail Volume | ~1.52 million units | — | — |
| Passenger Vehicle Wholesale Volume | ~2.12 million units | — | — |
Notably, July's NEV wholesale year-on-year growth of 23% represents the highest monthly growth rate in 2026. Behind this achievement are three core drivers: persistently high international oil prices raising ICE operating costs; domestic OEMs optimizing supply chains and production efficiency; and exploding global NEV demand driving Chinese OEM export expansion.
Leading OEM Performance: BYD Leads, Chery and Leapmotor Break 100% Growth
Another defining characteristic of July's NEV market is the further concentration of market share at the top, with the "strong get stronger" pattern becoming increasingly apparent.
July NEV OEM Wholesale Sales Top 10
| Rank | OEM | July Sales (Units) | MoM Growth | YoY Growth |
|---|---|---|---|---|
| 1 | BYD | 411,100 | +3.5% | +20.5% |
| 2 | Geely | 158,100 | -0.4% | +21.5% |
| 3 | Chery | 122,100 | +14.2% | +103.8% |
| 4 | Leapmotor | 101,300 | +8.5% | +102.0% |
| 5 | Tesla China | ~85,000 | — | — |
| 6 | SAIC-GM-Wuling | — | — | — |
| 7 | Great Wall Motor | — | — | — |
| 8 | XPeng | — | — | — |
| 9 | NIO | — | — | — |
| 10 | Arcfox | — | — | — |
BYD secured first place with 411,100 units, up 3.5% MoM and 20.5% YoY, maintaining its top position in China's monthly NEV sales for 62 consecutive months. Its Dynasty and Ocean networks advance in parallel, with the Qin, Song, and Han series continuing to sell well, while overseas exports also maintain high growth.
Chery and Leapmotor were the standout performers in terms of growth this month:
- Chery NEV sales reached 122,100 units in July, up 103.8% YoY and 14.2% MoM, effectively doubling
- Leapmotor sold 101,300 units in July, up 102.0% YoY, breaking the 100,000-unit monthly threshold for the first time
Geely ranked second with 158,100 units, up 21.5% YoY, delivering a solid performance. Meanwhile, new force brands like Tesla China, XPeng, and NIO face varying degrees of growth pressure amid fierce competition.
Growth Drivers: High Oil Prices, Exports, and Product Iteration in Triple Resonance
July's above-expectation NEV market performance stems from the combined force of three growth engines:
- High oil prices forcing consumption structure conversion: Affected by shipping disruptions in the Strait of Hormuz, international oil prices trended upward. Domestic fuel retail prices underwent two rounds of hikes in July, with cumulative increases nearing 985 yuan per ton, directly and significantly raising ICE operating costs. Sustained high vehicle maintenance costs have substantially suppressed consumer willingness to purchase ICE vehicles
- Exports becoming a key incremental source: High international oil prices have triggered explosive growth in global NEV demand. Domestic independent NEV OEMs, leveraging mature low-energy consumption core technologies and exceptional product value, possess strong competitive advantages in overseas markets compared to traditional ICE vehicles, with export orders continuing to grow
- Leading OEMs accelerating product iteration: BYD, Geely, Chery, Leapmotor, and numerous other mainstream OEMs all achieved record-high July NEV wholesale volumes, with new product iterations continuously driving market vitality
Polarization Intensifies: Full-Year Outlook
July's data further confirms the major trend of market polarization:
- The gap between leading OEMs (BYD, Geely, Chery) and mid-tier OEMs continues to widen
- Chery and Leapmotor, both with growth exceeding 100%, are rewriting the second-tier NEV landscape
- The ICE market continues to bleed market share, with NEV penetration jumping from 54.1% in H1 to 64.5% in July
The China EV 100 Forum estimates that full-year 2026 NEV sales (including exports) could reach 20 million units, with domestic penetration around 57%. For buyers and dealers in Central Asia, Russia, and other emerging markets, the robust growth of China's NEV market means richer product choices, more competitive pricing, and more mature technology solutions. Sourcing Chinese NEVs through EX1000.COM is becoming an increasingly rational choice for overseas buyers.
