New Energy Vehicle Wholesale Sales Expected to Hit 17.3 Million Units in 2026, Up 13% YoY

China's total vehicle wholesale volume in 2026 is projected to reach 34.8 million units, up 1% year-over-year. Of this, passenger vehicle wholesale volume from automakers is expected to hit 30.09 million units, an increase of 2% year-over-year. Domestic passenger vehicle sales are forecast at 23.59 million units, down 1% year-over-year, while automaker exports are projected to reach 6.5 million units, up 13% year-over-year. New energy passenger vehicle (NEV) wholesale sales are expected to reach 17.3 million units, rising 13% year-over-year. According to related data, in 2025, nationwide passenger vehicle wholesale volume from manufacturers totaled 29.554 million units, up 8.8% year-over-year. Exports reached 5.739 million units, growing 19.7% year-over-year, and NEV wholesale volume stood at 15.319 million units, up 25.2% year-over-year. Additionally, proposals have been made to include automobile purchase expenses within the scope of special additional deductions for individual income tax and to allow interest on auto consumer loans to be deducted before taxation. Such measures could reduce the tax burden on high-income individuals purchasing vehicles—for example, saving tens of thousands of yuan in personal income tax on a vehicle priced around RMB 1 million—or shorten vehicle replacement cycles and bring forward demand. They would also help banks expand their auto lending businesses and ease the financial burden on consumers.