China’s new-energy vehicle (NEV) market reached a historic milestone in October, as NEV sales surpassed 50% of all new car sales nationwide for the first time. Between January and October, Chinese manufacturers produced 27.69 million vehicles and sold 27.68 million, both marking over 10% year-on-year growth.
NEV output climbed to 13.02 million units, an increase of 33.1%, while sales reached 12.94 million, up 32.7% compared to the same period last year. Exports also surged, with 2.014 million NEVs shipped abroad, a 90% increase year-on-year.
Industry experts attribute the growth to multiple factors. Tax incentives, nationwide trade-in programs, and the anticipated increase in NEV purchase taxes in 2026 encouraged consumers to buy early. Promotional campaigns like Double 11 further accelerated sales, while strong product quality, performance, and reliability have earned widespread trust, even among high-income buyers.
China’s NEVs now cover a wide range of models, from affordable runabouts to luxury vehicles, competing successfully against both domestic fuel-powered vehicles and foreign brands. Analysts say the milestone reflects the maturity and resilience of China’s electric vehicle sector and its growing impact on both domestic and export markets.
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