New Energy Vehicle Exports Double, May Sales Up 14.4% Year-on-Year

[Market Dynamics] From January to May 2026, cumulative sales of new energy vehicles (NEVs) reached 5.802 million units, with exports doubling year-on-year.

Core Trend: NEVs Show Resilient Growth Amid Overall Market Pressure

In May, production and sales of new energy vehicles reached 1.554 million and 1.496 million units respectively, up 22.4% and 14.4% year-on-year. In contrast, total auto sales in May declined 2.1% year-on-year, with passenger vehicle sales down 4.2%.

Key Data: Commercial Vehicles Emerge as the Sole Bright Spot

Commercial vehicle sales totaled 376,000 units in May, an increase of 12.5% year-on-year. Cumulative sales from January to May reached 1.888 million units, up 7.7% year-on-year. During the same period, total vehicle sales stood at 12.207 million units, down just 4.2% year-on-year—a narrowing decline.

Strategic Foundation: Export Surge and Structural Transformation Stabilize NEV Sector

The sharp rise in NEV exports and ongoing product mix optimization have become key industry supports, offsetting weak domestic demand for fuel-powered vehicles and driving a continued narrowing of the overall market’s year-on-year decline.