<div id="readability-page-1"><blockquote><ul><li>Compared with December 2025, the estimate represents a 42.42% decline.</li><li>Consumer demand was pulled forward in December, resulting in a drawdown of January demand.</li></ul></blockquote>                            <div>                <p>China passenger NEV wholesale sales -- CPCA</p>                <p><span>                <span></span>                2024            </span>                        <span>                <span></span>                2025            </span>                        <span>                <span></span>                2026            </span>                    </p>                                                <div>                        <p>*Jan 2026 figure is CPCA estimate</p>                        <p><span>Source: CPCA</span>                <span>© CnEVPost</span>            </p>        </div>    </div>                <p>China's passenger new energy vehicle (NEV) wholesale sales last month are projected to have achieved a marginal year-on-year increase, but a significant month-on-month decline.</p><p>In January, China's passenger NEV wholesale sales are estimated at 900,000 units, a 1% year-on-year increase, the China Passenger Car Association (CPCA) said in a report today.</p><p>Compared to December's 1,563,000 units, this estimate represents a 42.42% decline, according to CnEVPost calculations.</p>    <div>        <p><span>Join us on </span>            Telegram            <span> or </span>            Google News        </p>    </div><p>The withdrawal of China's NEV purchase tax exemption policy after its December expiration led to front-loaded consumer demand, depleting January's demand, CPCA said.</p><p>Manufacturers with passenger NEV wholesale sales exceeding 10,000 units in December contributed 93% of the month's total NEV wholesale sales.</p><p>These manufacturers' projected January sales total 830,000 units. Based on last month's sales structure, China's January passenger NEV wholesale sales are expected to reach 900,000 units, CPCA said.</p><p>In China, NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles. Their specific figures are expected to be released later this month.</p><p>Among major automakers' NEV wholesale sales, BYD (HKG: 1211, OTCMKTS: BYDDY) recorded 205,518 units, while Geely Auto (HKG: 0175, OTCMKTS: GELYF) reached 124,525 units.</p><p>Tesla (NASDAQ: TSLA) recorded wholesale sales of 69,129 units in January, while Chery's NEV wholesale sales totaled 47,895 units and Seres' NEV sales totaled 40,012 units.</p><p>Entering 2026, Chinese consumers face an additional 5% purchase tax burden, and China's vehicle trade-in subsidies remain in a transitional phase, impacting demand.</p>                    <div id="china-nev-wholesale-cpca-jan-2026-698318555db75-wrap">        <p>China passenger NEV wholesale sales (Jan 2026)</p>                                                    </div>        <div>        <table>            <caption>China passenger NEV wholesale sales (Jan 2026)</caption>            <thead>                <tr>                    <th scope="col">Automaker</th>                    <th scope="col">NEV Wholesale Sales</th>                </tr>            </thead>            <tbody>                                <tr>                    <td>BYD</td>                    <td>205,518</td>                </tr>                                <tr>                    <td>Geely</td>                    <td>124,252</td>                </tr>                                <tr>                    <td>Tesla China</td>                    <td>69,129</td>                </tr>                                <tr>                    <td>Chery</td>                    <td>47,895</td>                </tr>                                <tr>                    <td>Seres</td>                    <td>40,012</td>                </tr>                                <tr>                    <td>Xiaomi EV</td>                    <td>39,000</td>                </tr>                                <tr>                    <td>Leapmotor</td>                    <td>32,059</td>                </tr>                                <tr>                    <td>Dongfeng</td>                    <td>29,975</td>                </tr>                                <tr>                    <td>Changan</td>                    <td>29,868</td>                </tr>                                <tr>                    <td>SAIC-GM-Wuling</td>                    <td>28,661</td>                </tr>                                <tr>                    <td>SAIC Passenger Vehicle</td>                    <td>28,179</td>                </tr>                                <tr>                    <td>Li Auto</td>                    <td>27,668</td>                </tr>                                <tr>                    <td>Nio</td>                    <td>27,182</td>                </tr>                                <tr>                    <td>GAC Aion</td>                    <td>21,635</td>                </tr>                                <tr>                    <td>Xpeng</td>                    <td>20,011</td>                </tr>                                <tr>                    <td>Great Wall Motor</td>                    <td>18,019</td>                </tr>                                <tr>                    <td>FAW Hongqi</td>                    <td>8,265</td>                </tr>                                <tr>                    <td>Spotlight</td>                    <td>6,202</td>                </tr>                                <tr>                    <td>SAIC-GM</td>                    <td>5,983</td>                </tr>                                <tr>                    <td>Arcfox</td>                    <td>5,077</td>                </tr>                                <tr>                    <td>FAW Bestune</td>                    <td>5,025</td>                </tr>                                <tr>                    <td>IM Motors</td>                    <td>4,647</td>                </tr>                                <tr>                    <td>Dongfeng Nissan</td>                    <td>4,211</td>                </tr>                                <tr>                    <td>Changan Mazda</td>                    <td>3,781</td>                </tr>                                <tr>                    <td>Smart</td>                    <td>3,768</td>                </tr>                                <tr>                    <td>JAC</td>                    <td>3,151</td>                </tr>                                <tr>                    <td>Seres Hubei</td>                    <td>3,022</td>                </tr>                                <tr>                    <td>BMW Brilliance</td>                    <td>2,777</td>                </tr>                                <tr>                    <td>BAIC</td>                    <td>2,490</td>                </tr>                                <tr>                    <td>GAC Trumpchi</td>                    <td>2,426</td>                </tr>                                <tr>                    <td>Beijing Automobile Works</td>                    <td>2,315</td>                </tr>                                <tr>                    <td>GAC Toyota</td>                    <td>2,236</td>                </tr>                                <tr>                    <td>GAC Honda</td>                    <td>1,482</td>                </tr>                                <tr>                    <td>FAW Toyota</td>                    <td>1,217</td>                </tr>                                <tr>                    <td>JMEV</td>                    <td>1,001</td>                </tr>                                <tr>                    <td>SAIC Maxus</td>                    <td>592</td>                </tr>                                <tr>                    <td>Others</td>                    <td>41,269</td>                </tr>                            </tbody>        </table>    </div>                <div>        <div>            <p><img width="768" height="434" src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2026/02/2026020408391932-768x434.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://cdn.cnevpost.com/wp-content/uploads/2026/02/2026020408391932-768x434.jpg"/>                            </p>        </div>        <div>            <p>Tesla China Jan wholesale sales rise 9.32% year-on-year to 69,129 units</p>            <p>Tesla China's January wholesale sales increased 9.32% year-on-year but fell 28.86% month-on-month.</p>                    </div>    </div>                                                                                    </div>

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<p>China's passenger new energy vehicle (NEV) wholesale sales in January 2026 are estimated at 900,000 units, reflecting a 1% year-on-year increase but a significant 42.42% decline from December 2025. The drop is attributed to front-loaded consumer demand due to the expiration of the NEV purchase tax exemption. Major contributors to sales include BYD with 205,518 units and Tesla with 69,129 units. The new 5% purchase tax and transitional vehicle trade-in subsidies are expected to further impact demand.</p>

- In January 2026, China's passenger NEV wholesale sales are estimated at 900,000 units, reflecting a 1% year-on-year increase, but a 42.42% decline from December's 1,563,000 units.  
- The drop in January demand is attributed to front-loaded consumer purchases before the expiration of the NEV purchase tax exemption policy, which now adds a 5% tax burden.  
- Major automakers like BYD and Geely led sales, with BYD reporting 205,518 units sold in January.

China Jan NEV wholesale sales edge up 1% to 900,000 units, CPCA estimates show