May NEV Wholesale Sales Rise Year-over-Year and Month-over-Month

[Market Data] In May 2026, wholesale sales of new energy passenger vehicles reached 1.36 million units, up 12% year-over-year and 11% month-over-month.

Key Trend: Fuel Price Hikes Drive Consumer Shift; Domestic and Overseas Demand Boost Sales

Behind the 1.36 million-unit wholesale figure lies a dual impact: two rounds of increases in domestic refined fuel retail prices combined with disruptions to shipping through the Strait of Hormuz, which sharply raised operating costs for internal combustion engine vehicles and accelerated consumer migration to new energy vehicles. Automakers simultaneously optimized production scheduling and supply chains, enhancing wholesale efficiency.

Key Statistic: 7% Month-over-Month Growth Driven by Ample Working Days

Because the Dragon Boat Festival holiday fell in June, May offered ample vehicle production working days, ensuring stable output from the supply side and supporting a 7% month-over-month increase.

Industry Impact: Export Competitiveness of Domestic Brands Strengthens

High international oil prices have stimulated overseas demand for new energy vehicles. Domestic brands, leveraging low energy consumption and high cost-performance ratios, are gaining significant substitution advantages over fuel-powered vehicles in international markets, steadily expanding their export scale.