Passenger Transport Association Branch: In September, the national passenger car manufacturer's new energy wholesale estimates 1.67 million vehicles, an increase of 12% over the same period last year

The Zhitong Finance App learned that on October 9, the Passenger Link branch published an article stating that according to preliminary monthly passenger car data, passenger car manufacturers across the country are estimated to wholesale new energy vehicles at 1.67 million vehicles in September 2026, up 12% year on year and 11% month on month. In September, the wholesale sales volume of NEV manufacturers across the country is estimated to reach 1.67 million units, up 12% year on year and 11% month-on-month, achieving double digit increases, indicating that the NEV sector has entered a strong bottom recovery channel after experiencing early adjustments. The growth rate of new energy was significantly higher than the overall car market during the same period, and new energy vehicles became the core engine for the steady development of the stable development of the passenger car market.

In September 2026, the NEV wholesale side showed a pattern of “moderate growth in total volume and sharp structural differentiation”, and the external environment became a key variable dominating sales trends. High fuel prices continue to suppress fuel vehicle consumption and create a window for new energy alternatives, but uncertainty in the supply chain and trade environment caused by overseas geographical conflicts, and the high base figure brought about by the tightening of domestic “trade-in” subsidies during the same period last year, together form the deep background of the slowdown in wholesale growth. Due to the Mid-Autumn Festival holiday on September 25, which affected production and sales fluctuations in late September, retail sales of new energy sources were abnormally low in September. As the trend of high oil prices overseas continues to exceed expectations, the export performance of new energy vehicles is strong, further exacerbating the characteristics of differentiation.

Benefiting from the accelerated electrification transformation of leading car companies and driven by the consumer environment, many mainstream car companies set new historical records for the same period in September, confirming the remarkable results of the electrification transformation of domestic car companies. In September, BYD Auto, Geely Auto, Chery Auto, Zero Sports Auto, and Changan Auto were the top five car companies. The five leading car companies all achieved year-on-year sales growth and relatively strong growth, stabilizing the NEV growth trend. SAIC Volkswagen and SAIC-GM's new energy passenger cars doubled year-on-year growth, while car companies such as Changan Mazda, Chery, Zero Sports, SAIC Passenger Cars, and GAC Aian grew by more than 50% year-on-year. These car companies cover autonomous, joint ventures and new power brands, indicating that the electrification transformation has evolved from a “few pioneers” to an “industry-wide consensus”. The pace of technology iteration and new product launch has accelerated, and market performance continues to improve.

In August 2026, the sum of the wholesale sales volume of manufacturers with more than 10,000 NEVs in the national passenger car market accounted for 93% of the total sales volume of NEV passenger vehicles in the month. According to the current preliminary summary data, these manufacturers that sold 10,000 new energy vehicles or more in August sold 1.55 million units in September. Currently, most manufacturers have basically locked in large sales, so according to the August structure combined with September data, it is estimated that the wholesale sales volume of new energy passenger vehicles nationwide in September was 1.67 million units.

Note: Since the data of the China Express Report may differ from the manufacturer's final draft data, please do not directly compare the specific vendor data in this edition with the final historical data to prevent misunderstandings.

Quick report on wholesale sales of new energy from major passenger car manufacturers in September