China's Auto Exports Hit $91.8B in Six Months, Fueled by NEVs

In the first half of 2026, China’s auto exports reached USD 91.8 billion, up 54% year-on-year; June alone saw exports worth USD 18.2 billion, a 70% year-on-year increase. Export volume totaled 5.096 million vehicles during the same period, surging 65.3% year-on-year—the first time in history that China surpassed the 5-million mark in a single half-year. In June, vehicle exports hit a record high of 1.037 million units, exceeding one million for the first time. New energy vehicles (NEVs) emerged as the primary growth driver. NEV exports in the first half reached 2.355 million units, soaring 120% year-on-year and accounting for over 46% of total vehicle exports. June alone saw NEV exports of 523,000 units, up 160% year-on-year. Electric vehicle (EV) export value totaled USD 52.1 billion, an increase of 75.1%. China’s export market structure underwent significant shifts. From January to May 2026, Brazil became China’s largest passenger vehicle export destination, with shipments totaling 372,000 units—a staggering 178.7% year-on-year increase—followed by Russia at 351,000 units, up 139.8%. Together, the two countries accounted for more than 40% of China’s top ten passenger vehicle export markets combined. Europe (including Russia) now represents over half of China’s total auto exports. Among NEV export destinations, Brazil, Belgium, and the UK ranked top three. Italy and Germany saw explosive year-on-year growth of 365.3% and 211.2%, respectively. At the corporate level, Chery exported 931,500 vehicles in the first half, up 70.9% year-on-year; BYD exported 769,300 units, rising 73.6%; Geely, SAIC Motor Passenger Vehicle, Great Wall Motor, and Tesla China exported 472,500, 404,200, 256,000, and 229,000 units, respectively. Chery’s exports accounted for 74.3% of its total sales, BYD exceeded 40%, and Great Wall reached 50%. Industry-wide, auto exports represented 37% of domestic sales—more than double the 19% share recorded in the same period of 2025. Meanwhile, China’s “new trio” of exports—lithium batteries, solar cells, and EVs—continued to shine. Lithium battery exports totaled USD 48.7 billion (+43%), solar cell exports reached USD 32.9 billion (+24%), and combined exports of the “new trio” amounted to USD 118.35 billion, up 51.6% year-on-year. However, structural challenges are emerging. Auto parts exports totaled USD 51.3 billion, growing just 7% year-on-year—far below the pace of finished vehicle exports. Traditional automotive manufacturing powers like the U.S. and EU have imposed trade restrictions on Chinese auto components, while China’s vehicle exports have largely bypassed the U.S. market. External trade barriers continue to intensify. Since October 2024, the EU has levied five-year anti-subsidy duties on Chinese battery electric vehicles, with combined rates reaching as high as 45.3%. In June 2026, the EU plans to extend these duties to plug-in hybrid electric vehicles. Starting July 1, Brazil raised import tariffs on EVs uniformly to 35%. Thailand has implemented a “capacity-for-export” mechanism, requiring automakers to commit to local production in exchange for export quotas. In response, Chinese automakers are shifting toward “industrial globalization.” Multiple companies are accelerating localized overseas operations. A Chinese NEV manufacturer’s Brazil plant rolled out its 100,000th vehicle in July 2026 and aims to achieve a 50% local procurement rate by early 2027. Chery’s joint venture with Spain’s Ebro Automotive Group launched a new production line at its Barcelona facility, with a designed cycle time of approximately 75 minutes per vehicle. According to forecasts, China’s total auto exports in 2026 will reach 10 million units, up 41% year-on-year, making it the world’s first country to surpass the 10-million annual export milestone—roughly 2.5 times Japan’s projected export volume for the same year.