China’s new energy vehicle (NEV) market continues to show strong growth, with wholesale sales reaching new highs in the first half of the year. According to the China Passenger Car Association (CPCA), NEV wholesale sales in the first half of the year are estimated to have reached 6.47 million units, representing a 38 percent year-on-year increase.
In June, China’s passenger NEV wholesale sales are estimated to have reached 1.26 million units, up 29 percent year-on-year and 3 percent month-on-month. This growth was driven by strong performance from major players in the market, including Leapmotor, Dongfeng Nissan, and GAC Toyota, all of which achieved record-high sales for the month.
Other automakers such as Great Wall Motor, Nio, FAW Bestune, FAW Hongqi, and Changan Mazda also saw strong sales in June, with some achieving their second-highest sales on record. Smaller automakers also contributed to the overall increase in NEV sales, highlighting the diversity and competitiveness of the market.
In May, manufacturers with passenger NEV wholesale sales exceeding 10,000 units accounted for 90 percent of the month’s total NEV wholesale sales. Based on this trend, China’s June passenger NEV wholesale sales are expected to reach 1.26 million units.
Among the major automakers, BYD led the pack with 377,628 units sold, followed by Geely with 122,367 units, Changan Automobile with 95,380 units, Tesla with 71,599 units, and Chery with 65,637 units. BYD also reported selling a total of 382,585 NEVs in June, including both passenger and commercial vehicles.
Tesla China also saw a slight increase in sales in June, with a 0.83 percent year-on-year growth and a 16.12 percent increase from May. This growth reflects the ongoing demand for electric vehicles in the Chinese market.
Overall, the NEV market in China continues to show strong growth momentum, driven by government incentives and consumer demand for environmentally friendly vehicles. With major players and smaller automakers alike contributing to the market’s success, the future looks bright for the NEV industry in China.
