Gasgoo Munich- the China Passenger Car Association released preliminary estimates on November 3. Wholesale sales of new energy passenger vehicles in China reached approximately 1.8 million units in October 2026, up 12% year-on-year and 8% from September. After a period of adjustment, the NEV sector has entered a recovery channel, with growth significantly outpacing the overall market during the same period.
Among top automakers, BYD reported sales of 490,000 new energy vehicles in October, up roughly 11% year-on-year and 5.74% month-on-month, retaining its industry lead. The company’s cumulative sales for the first ten months reached 3.62 million, with monthly volumes returning to year-on-year growth.
Rankings among EV startups shifted noticeably. Leapmotor delivered 106,100 vehicles in October, a 50.99% jump from last year, marking its fourth consecutive month above 100,000 units. Meanwhile, both XPENG and Xiaomi cracked the 50,000-unit monthly delivery threshold.
Overall, from January to October 2026, the competitive landscape for new energy passenger vehicles is fragmenting at a faster pace, with the scale gap between industry leaders widening.
The CPCA attributes October’s growth to three main drivers. First, subsidy programs are set to expire at the end of December, prompting some consumers to pull forward purchases. Second, dealers leveraged the Double 11 shopping festival to roll out promotions and accelerate order conversions. Third, the traditional peak season effect persisted. The China Automobile Dealers Association noted that while November lacks major offline auto shows — resulting in lower natural footfall than October — the end-of-policy incentive effect should continue to support sales.
Image Source: CPCA
