China Passenger Vehicle Monthly Chartbook

The Chinese passenger vehicle market continues to shift toward new energy vehicles (NEVs), with penetration reaching 63% in May 2026 despite an overall retail volume decline of 22% yoy. Strong export performance, especially in NEVs, remains a critical support factor for the industry.

Key Takeaways

• 1.Domestic NEV retail penetration rose to 63% in May, up 10pp yoy and 1.6pp mom.
• 2.Passenger vehicle export growth remains strong at 73% yoy, driven by NEV exports (+130% yoy).
• 3.Domestic passenger vehicle retail volume fell 22% yoy, with ICE vehicles down 39% yoy while NEVs were down 7% yoy.

Table of Contents

• May 2026 highlights
• Industry data summary
• Company & Stock highlights
• Price Target Risks & Methodology
• Pricing information
• Trade-in application tracker
• Market share tracker
• New models tracker
• European sales tracker
• NEV MSRP tracker
• Retail end-pricing
• Industry inventory volume & inventory months
• Upstream battery pricing dynamics
• Industry monthly tracker
• Transaction price tracker
• Disclosure Appendix