CPCA data shows July 2026 NEV passenger vehicle wholesale reached 1.47 million units, up 23% YoY. BYD led with 411K units, Geely 158K, Chery 122K (doubled YoY). Leapmotor's 101K units surpassed Tesla China, becoming the month's biggest highlight.
1.47 Million Units: Market Structure
On August 4, CPCA released July NEV data: 1.47 million units, up 23% YoY, down 1% MoM.
July NEV Wholesale TOP10
| Rank | OEM | July Sales | MoM | YoY |
|---|---|---|---|---|
| 1 | BYD | 411K | +3.5% | +20.5% |
| 2 | Geely | 158K | -0.4% | +21.5% |
| 3 | Chery | 122K | +14.2% | +103.8% |
| 4 | Leapmotor | 101K | +8.5% | +102.0% |
| 5 | Tesla China | 94K | — | — |
Four OEMs exceeded 100K monthly sales.
Leapmotor Surpasses Tesla: Inflection Point?
Leapmotor reached 101,267 units, crossing 100K for the first time and surpassing Tesla China (93,579 units).
Leapmotor's rise is no accident:
- Value strategy: "Half-price Li Auto" positioning
- Vertical integration: In-house battery, motor, ADAS
- Channel depth: Strong Tier-3/4 city coverage
High Oil Prices: External Catalyst
July's NEV strength was boosted by high oil prices:
- Domestic fuel prices rose twice, cumulative increase near 985 yuan/ton
- ICE vehicle operating costs surged significantly
Conclusion
July data confirms China's NEV market has shifted from "growth competition" to "stock polarization." More at EX1000.COM.
