SAIC Motor Group Surpasses 2 Million Units in First-Half Sales; BYD's Overseas Sales Exceed SAIC Motor for the First Time

In June, retail sales of China's narrowly-defined passenger vehicles declined 23.2% year-on-year; cumulative first-half sales fell 20.2% YoY. China Passenger Car Association (CPCA) analysis notes that last year's vehicle purchase incentives and aggressive price cuts by automakers jointly stimulated demand, whereas this year's policy tapering, narrowing dealer discounts, and external factors like volatile fuel prices have temporarily weighed on market demand. Against this backdrop, Chinese automakers are accelerating overseas expansion — auto exports from January to May reached 4.24 million units, up 49% YoY, making overseas markets a critical pillar supporting overall sales stability.

SAIC Motor Is Sole Automaker to Clear 2 Million Units in First Half; BYD's Overseas Sales Outpace SAIC Motor

At the group level, SAIC Motor Group achieved over 2 million units in first-half cumulative sales — the only domestic automaker to reach this scale — with homegrown brands accounting for more than 70% of volume. Notably, its overseas sales totaled 735,000 units, while BYD posted 789,367 overseas units in the same period — its first-ever overseas sales lead over SAIC Motor. BYD's June sales stood at 403,473 units, posting year-on-year growth, with strong performances from Leopard and DENZA; GEELY, Chery, and GWM maintained stable monthly volumes.

Chery exported 943,817 units in the first half — 70% of its total sales — making it one of the few automakers whose overseas volume exceeds domestic sales; GEELY exported 474,228 units, already surpassing its full-year 2025 total. Rapid overseas growth is effectively offsetting softness in the domestic market.

New Energy Automakers Diverge: Leapmotor Tops June Deliveries; Zeekr Leads Target Achievement Rate

Market concentration among new energy automakers continues intensifying. Leapmotor delivered 93,376 units in June — a new record — fueled by refreshed A, D, and C series models and new product launches; Harmony Intelligent Mobility Alliance remained steady after launching all five "jie" models; Xpeng GX delivered 6,739 units in June, lifting its monthly sales significantly.

Among new energy automakers disclosing annual targets, only Zeekr achieved 59.5% of its first-half sales target, driven by premium-market acceptance of new models like the 9X and 8X; NIO did not disclose its exact achievement rate, but sub-brands ONVO and Firefly plus the all-new ES8 contributed to substantial year-on-year growth. Most other brands — including Li, Xiaomi, and Deepal — remain well below their first-half targets; multiple highly anticipated new models are slated for launch in the second half, potentially becoming pivotal to hitting annual goals.

Editor Insight: Lower Fuel Prices Boost ICE/Hybrid Demand; Summer Travel May Lift MPV & Large SUV Sales

Recent reductions in 92-octane gasoline prices — cumulative drop of ¥1.56 per liter — save ¥78 for a full 50L tank refill, potentially boosting short-term consumer confidence in internal combustion engine (ICE) and hybrid vehicles. While July's high temperatures and heavy rainfall may dampen purchasing intent, the summer travel season could stimulate demand from multi-child families for MPVs and large SUVs, delivering modest incremental volume. To meet full-year targets, automakers will still rely heavily on coordinated efforts — timely rollout of promotional policies and well-paced new model launches — in the second half.