Data from the China Association of Automobile Manufacturers shows China's NEV sector set fresh records in September. NEV production and sales reached about 1.617 million and 1.604 million units, up 42.7% and 45.6% year on year, with NEVs taking 49.7% of total new-vehicle sales. The January–September cumulative volume reached about 12.6 million units, approaching a 50% market share.
Exports were a standout: September NEV exports hit 222,000 units, more than doubling year on year. The China Passenger Car Association separately reported September domestic NEV retail at about 1.296 million units, up 15.5%, with a retail penetration rate of 57.8%—another fresh high. Analysts said trade-in subsidies, local incentives and a dense wave of new-model deliveries are sustaining NEV momentum even as the broader market cools.
The figures underscore that electrification has moved from a policy-driven niche to the structural core of China's auto market, with exports emerging as a second growth engine alongside domestic substitution. Solid-state batteries, autonomous-driving foundation models and domestic chips are now the focal points of the next competitive phase.
Source: Sina Finance / CAAM / CPCA
