On September 7, 2026, multiple Chinese new energy vehicle (NEV) brands released their August delivery data, showing record-high results despite a phaseout of government incentives.
BYD topped the list with sales of 440,293 vehicles, including more than 188,000 units sold overseas, up 134.6 percent year-on-year and a fresh historical high. Leapmotor delivered 103,129 vehicles globally, up 80.7 percent year-on-year and surpassing the 100,000-unit milestone for the second consecutive month. Harmony Intelligent Mobility Alliance delivered 42,101 vehicles, with cumulative year-on-year growth of 10.8 percent. Zeekr delivered 36,981 vehicles, surging 109.8 percent year-on-year.
Industry observers noted that even as purchase tax exemptions were halved at the start of the year, ship tax incentives are set to expire from 2027, and a lithium battery consumption tax resumed on September 1, NEV penetration rose above 50 percent in the first half and broke 60 percent in July. As of end-June, China's NEV parc reached 48.97 million vehicles, and the July retail penetration rate stood at 65.1 percent.
Analysts said the data proves that growth now comes from real product strength and consumer demand rather than from policy subsidies. Headline automakers are absorbing cost pressures through supply-chain integration, technology-driven cost reductions, and product iteration rather than passing them on to consumers.
Source: China Securities Daily / Sina Finance
