China Passenger Car Association: National new energy passenger car manufacturers' wholesale estimate in May is 1.36 million units, an increase of 11% month-on-month.

According to the Wise Finance and Economics APP, the China Association of Automobile Manufacturers stated in a document that in May 2026, the estimated wholesale sales of new energy passenger vehicles by domestic car companies will reach 1.36 million units, with a year-on-year and month-on-month increase of over 11%. The industry has achieved double-digit growth in both year-on-year and month-on-month comparisons, with the initial signs of recovery in the new energy sector becoming apparent. Due to the disruption of navigation in the Hormuz Strait, the domestic retail price of refined oil has undergone two rounds of increases, significantly raising the operating costs of fuel-powered vehicles and suppressing consumer demand for traditional fuel-powered cars. The overall automotive market is under pressure and weak, with new energy vehicles becoming the core growth highlight in the market.