- CPCA estimated China's passenger NEV wholesale sales reached 1.12 million units in March, with BYD topping all automakers and Tesla ranking third.
- Surging domestic fuel prices boosted NEV penetration, CPCA said.
In March, China's wholesale sales of passenger new energy ehicles (NEVs) were estimated at 1.12 million units, flat year-on-year, the China Passenger Car Association (CPCA) said in a report today.
However, compared with February, the estimate represents a 55% increase.
Because the Chinese New Year holiday fell late in February this year, China's auto market remained in a slow post-holiday consumption recovery phase during the first half of March, according to the CPCA.
Market sentiment gradually improved as local governments rolled out detailed trade-in subsidy policies and multiple new models were launched in the spring, the report said.
In addition, recent sharp fluctuations in international crude prices led to substantial hikes in China's fuel prices, which further drove a week-by-week increase in NEV penetration, the CPCA said.
In February, manufacturers with passenger NEV wholesale sales exceeding 10,000 units contributed 93% of the total NEV wholesale volume for the month.
These automakers had an estimated sales volume of 990,000 units in March. Based on the previous month's structure, China's passenger NEV wholesale sales in March would be 1.12 million units, the CPCA said.
In China, NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel-cell vehicles. Their specific figures are expected to be released later this month.
Among major automakers, BYD recorded the highest passenger NEV wholesale volume at 295,693 units, Geely Auto came in second at 127,319 units, and Tesla ranked third with 85,670 units.
Among other automakers, Chery posted NEV wholesale sales of 64,148 units, and Changan recorded 61,000 units.
Entering 2026, Chinese consumers face an additional 5% purchase tax cost, and the country's auto trade-in subsidies are in a transition phase, dealing a blow to demand.
| Automaker | NEV Wholesale Sales |
|---|---|
| BYD | 295,693 |
| Geely | 127,319 |
| Tesla China | 85,670 |
| Chery | 64,148 |
| Changan | 61,000 |
| Leapmotor | 50,029 |
| Dongfeng | 42,576 |
| Li Auto | 41,053 |
| Nio | 35,486 |
| SAIC-GM-Wuling | 35,475 |
| SAIC Passenger Vehicle | 35,000 |
| Xpeng | 27,415 |
| GAC Aion | 25,657 |
| Great Wall Motor | 21,857 |
| Seres | 20,234 |
| Xiaomi EV | 20,000 |
| Arcfox | 15,307 |
| FAW Hongqi | 11,830 |
| Dongfeng Nissan | 9,917 |
| GAC Toyota | 9,452 |
| Spotlight | 8,495 |
| FAW Bestune | 7,461 |
| IM Motors | 7,187 |
| Beijing Electric Vehicle | 6,812 |
| SAIC-GM | 6,754 |
| BAIC | 4,158 |
| SAIC-Volkswagen | 3,942 |
| GAC Trumpchi | 3,723 |
| Seres Hubei | 3,685 |
| Changan Mazda | 3,318 |
| BMW Brilliance | 2,442 |
| FAW Toyota | 2,151 |
| Beijing Automobile Works | 1,972 |
| JAC | 1,838 |
| FAW-Volkswagen | 1,355 |
| SAIC Maxus | 1,017 |
| Others | 19,048 |
