搜尋歷史
熱門搜尋
經銷商登入 / 註冊
Latest data released by the China Passenger Car Association (CPCA) shows that in June this year, retail sales of the national passenger car market reached 1.602 million units, down 23.2% year-on-year and up 6.1% month-on-month. Among them, retail sales of conventional fuel vehicles in June were only 600,000 units, a 39% drop year-on-year, with market share shrinking to 37.2%. The decline in domestic sales of fuel vehicles directly contributed 78% of the total reduction in passenger cars, becoming the core factor dragging down the domestic market. However, the fuel vehicle segment was not a complete defeat. Ordinary hybrid models demonstrated strong resilience, with retail sales that month declining only 7% year-on-year but up 24% month-on-month, becoming one of the few highlights in the fuel vehicle sector.
New energy vehicles formed a sharp contrast. The penetration rate of new energy vehicle retail in June climbed to a historical high of 62.8%, with passenger car retail sales at 1.007 million units, down 9.4% year-on-year and up 6.0% month-on-month. The current new energy vehicle market has bid farewell to the stage of universal growth across the board, and internal structural differentiation characteristics are becoming increasingly prominent. Mid-to-high-end electric vehicles priced above 200,000 yuan continued to surge, with Class B pure electric wholesale up 37% year-on-year; high-end models such as Xiaomi SU7, Model Y, and BYD continued to sell well. Entry-level micro electric vehicles of A00 and A0 levels faced significant pressure, with A00 class wholesale slipping 50% year-on-year, and consumer demand for low-end vehicles in counties and towns continuing to weaken. On power routes, pure electric and plug-in hybrid maintained growth, while range-extended vehicle sales declined 25.2% year-on-year and market share continued to shrink.
In fact, the overall trend of the market was also reflected in the market performance of major car brands.
In June this year, domestic brand retail reached 1.1 million units, down 18% year-on-year and up 6% month-on-month, with retail share at 68.6%, up 4.5 percentage points year-on-year. Among them, BYD was far ahead with a monthly sales volume of 403,000 units, showing significant leading advantages; domestic brand automakers such as Geely and Chery, relying on the dual-line layout of deep cultivation in the domestic new energy market and expansion of overseas markets, also achieved steady market growth.
Mainstream joint venture brands were deeply trapped in the pain of electrification transformation, and market performance continued to bear pressure. In June, mainstream joint venture brand retail was 330,000 units, down 34% year-on-year and up 8% month-on-month, with German and Japanese shares declining. Although joint venture brand new energy vehicle sales increased 45% year-on-year, it was insufficient to make up for the loss of the fuel vehicle market due to the small base. The traditional advantage of the home fuel vehicle market is being rapidly eaten up by domestic brands. Joint venture brands lacking new energy hit products continue to slide in market share. The luxury car market was also not spared, with retail volume down 30% year-on-year. The momentum of consumption upgrading has weakened under macroeconomic pressure.
According to CPCA data, domestic cumulative retail sales of passenger cars from January to June 2026 reached 8.701 million units, down 20.2% year-on-year, with domestic terminal consumption continuing to be weak and domestic demand growth lacking strength. Against this background, overseas markets have become a new growth space for car companies, with car exports becoming the core force to counteract the downward pressure of the domestic market and support the overall development of the industry.
Latest data released by the China Association of Automobile Manufacturers shows that from January to June this year, China's car exports reached 5.096 million units, up 65.3% year-on-year. Among them, new energy vehicle exports were 2.355 million units, up 1.2 times year-on-year. Passenger car exports in June were 877,000 units, up 82.3% year-on-year and up 11.5% month-on-month. New energy vehicles accounted for 56.9% of total exports, an increase of 15.9 percentage points compared to the same period. A00+A0 class pure electric vehicles, as the core focus, accounted for 53.8% of pure electric exports. At the same time, fuel vehicle exports also maintained 33% high-speed growth, forming an extremely strong performance of dual growth in oil and electricity for China's overseas expansion.
With the scale advantages of Chinese new energy vehicles becoming apparent and market expansion needs, new energy brand products manufactured in China are going abroad more and more, with acceptance overseas continuing to rise.
Specifically, Chery's June exports reached 191,000 units, up 79.7% year-on-year, breaking through 190,000 units in a single month for the first time and setting a new record for Chinese car single month exports. BYD's June overseas exports exceeded 170,000 units, up 94.7% year-on-year. The proportion of overseas sales to total sales approached 43%. Market share for pure electric vehicles in Brazil reached 78%. It consecutively won new energy vehicle sales championships for multiple months in countries such as Thailand and Australia. Average overseas model prices were higher than domestic, achieving simultaneous increase in volume and profit. Geely's June overseas exports were 102,900 units, up 157% year-on-year, with consecutive 6 months of same-period and month-on-month double increase, and the first half export total had already exceeded last year's whole year. SAIC Group's first half overseas sales reached 735,000 units, with overseas market share reaching one-third.
In fact, there are multiple reasons for the car market phenomenon of 'domestic cold, overseas hot, structural differentiation' in June.
On one hand, high oil prices this year continue to impact the fuel vehicle market, with vehicle usage costs increasing significantly. Coupled with consumer group demand iteration, young consumers increasingly value vehicle intelligence, comfort, and usage economy, while new energy vehicles accurately matched current consumption trends. At the same time, the three-electric technology of new energy vehicles continues to iterate, usage cost advantages of plug-in hybrid and pure electric models continue to amplify, accelerating the industry's oil-electric substitution process.
On the other hand, sustained efforts in policies such as new energy subsidies and purchase tax exemptions provided strong support for new energy vehicle market growth. While fuel vehicle emission standards continued to upgrade, this bi-directionally pushed car companies to accelerate electrification transformation. In addition, the new version of new energy vehicle safety national standard officially landed in July. Some consumers held a waiting attitude, which to some extent affected car purchasing demand in June.
In the game of price and configuration, simple price cuts have become difficult to leverage market growth. The industry profit margin for January to May this year was only 3.4%. Price increases in upstream raw materials and core components such as lithium carbonate and in-vehicle chips continuously raised car company production costs, making industry large-scale price wars unsustainable, thus turning to competition in intelligence and safety technology aspects.
However, consumers are becoming desensitized to the tactic of 'stacking specs'. The pull effect of new car launches on the market has significantly shortened. After a model launches for several months, the heat quickly fades. The era of ruling the world with configuration lists is over. Users care more about actual driving experience and long-term usage value.
The rapid iteration of car models also brought new market problems and consumer contradictions. Current new energy model iteration cycles have been compressed to 1 to 2 years, far faster than the 5 to 6 year iteration rhythm of traditional fuel vehicles. Rapid model updates led old car owners to frequently face new car price drops and configuration upgrades, triggering a large number of consumer disputes and brand trust issues. Continuous iteration disputes not only damaged user consumption experience but also caused potential consumers to have a waiting mindset, worried about car purchase depreciation risk, further suppressing short-term terminal consumer demand.
In addition, some brands and dealerships have issues where pre-sale promotion does not match the actual car, and promised subsidy benefits and maintenance services cannot be fulfilled. Therefore, negative public opinion of car companies spread quickly, causing negative impact on brand reputation. Plus current dealers are generally trapped in losses, passive inventory reduction pressure is huge, terminal service quality has declined somewhat, forming a vicious cycle of market consumption.
Additionally, domestic brands relying on complete industry chain layout, mature cost control ability and continuous technological innovation, saw market competitiveness steadily improve. Joint venture brand electrification transformation rhythm is slow, product iteration lagging, failed to adapt to domestic market consumption changes, overall market competitiveness continuously weakened.
The car market performance of June this year is a true microcosm of the deep transformation of China's automotive industry, concentratedly reflecting fuel vehicles continuing to shrink, new energy structure optimization, domestic demand market pressure and overseas market expansion industry new development performance. Future industry competition will shift from fierce price competition to technology, brand, and global comprehensive strength competition. Domestic brands relying on product and overseas going out advantages will continue to expand global market share. The process of China's automotive industry 'overtaking by changing lanes' will continue to deepen.
