China NEV Passenger Car Share Hits 62.8% of Global Market in January

In January 2026, Chinese-branded new energy passenger vehicles accounted for 28.3% of overseas sales, up 7.5 MoM.

Global vehicle sales totaled 7.18 million units in January 2026, of which 1.42 million were new energy vehicles, up 5% year on year but down 40% month on month, according to data released by Cui Dongshu, Secretary General of the China Passenger Car Association.

A slowdown in China’s vehicle trade-in stimulus program and the expiration of U.S. tax exemptions weighed on global NEV demand at the start of the year.

Despite the decline in absolute volumes, NEVs accounted for 19.7% of total global vehicle sales.

Battery electric vehicles represented 13.3%, while plug-in hybrid vehicles accounted for 6.4%. Overall penetration continued to rise, though regional divergence remained pronounced.

China remained the decisive market. In January, China’s share of global new energy passenger vehicle sales reached 62.8%. Europe accounted for 19.4%, while the United States represented 5.5%.

In terms of domestic penetration, NEVs made up 37.9% of China’s passenger vehicle market, significantly above the global average.

Major European markets such as Germany, the United Kingdom and Norway recorded penetration rates of 29.5%, 31.2% and 54.6%, respectively. The U.S. stood at 6.9%, while Japan lagged at 2.9%.

Export dynamics are also shifting. In January 2026, Chinese-branded new energy passenger vehicles accounted for 28.3% of overseas sales, up 7.5 percentage points from December. The full-year figure for 2025 was 15.8%.

Against a backdrop of contraction in the U.S. market, expansion into other overseas markets has supported overall share gains for Chinese brands.

At the manufacturer level, BYD ranked first globally in January with a 19.8% share of the NEV market. Geely followed at 12.1%, while Tesla declined to third place with 8.8%.

SAIC Motor and Chery Automobile showed notable momentum, with shares reaching 6.2% and 4.9%, respectively. BMW Group and Hyundai Motor fell into the third tier.

Overall, the global NEV market appears to be entering a phase of cyclical adjustment. However, China’s scale and export capacity are reinforcing its weight and influence in the global electric vehicle landscape.