In-Depth Analysis of the New Energy Passenger Vehicle Market in February 2026

[Market Analysis] The national new energy passenger vehicle market in February 2026 exhibited structural divergence.

Key Trend: PHEV Growth Outpaces BEV

PHEV retail sales increased by 38% year-over-year, significantly higher than the 19% growth of BEVs, reflecting rising consumer preference for flexible charging options.

Key Data: Premium and Budget Segments Lead the Pack

Sales in the above RMB 400,000 and below RMB 100,000 price segments grew by 45% and 32% year-over-year, respectively, while the mid-range segment (RMB 200,000–300,000) slowed to just 8% growth.

Strategic Foundation: Dual Drivers of Exports and Domestic Brands

Total exports reached 97,000 units (including CKD kits), up 51% year-over-year; BYD and Li Auto remained the top two manufacturers by sales volume, while premium newcomers such as Yangwang and Zunjie captured a combined market share exceeding 12% in the RMB 400,000+ segment.