China Automotive Market Q1 2026 Analysis: Sales, NEV, and Export

The first quarter of 2026 has witnessed a "clash of kings" in the Chinese automotive market. According to official industry data, SAIC Group secured its position as the undisputed leader in total volume, achieving a "triple crown" for monthly sales. Geely took the second place with a total deliveries of 709,358 units in Q1 2026, attributed to the outstanding performance by its three sub-brands: Geely Galaxy, Lynk & Co, and Zeekr, delivered 238,859 units, 81,662 units, and 77,037 units, respectively. BYD claimed the third rank with a total of 700,500 units in Q1 2026. Let’s dive in and check out how the key players perform in this quarter.

SAIC Group Retains Volume Crown with Record Retail

In March alone, SAIC sold 376,000 units, pushing its cumulative first-quarter retail performance past the 1,008,000-unit mark. This achievement makes SAIC the only automotive group in China to surpass one million retail deliveries in a single quarter.

The group's independent brands contributed significantly to this total, reaching 657,000 units—a year-on-year increase of 9.3%. This segment now accounts for 67.6% of the group’s total sales. Brands such as SAIC-GM-Wuling, IM Motors, and SAIC Passenger Vehicle are all showing synchronized growth.

BYD Dominates NEV Field

In the New Energy Vehicle (NEV) sector, BYD continues to hold the throne despite a slow start to the year. March saw a massive rebound for the brand, with sales reaching 300,200 units, representing a month-on-month surge of 57.9%, resulting in a first-quarter total of 700,500 units.

However, the competition is narrowing the gap. SAIC’s NEV sales saw 35% MoM increase in March, with MG4 EV’s booming sales, IM Motors' 97% year-on-year surge in Q1 deliveries, and SAIC Z7 and Z7T (marketed as SAIC for 尚界)’s 25,000 orders recorded within 24 hours of launch.

Simultaneously, Geely and Changan are growing as well. Geely’s NEV sales for Q1 reached 369,000 units, up 9% year-on-year, while Changan’s March NEV sales jumped 112% month-on-month. This multi-front assault is beginning to compress BYD's traditional lead in the electric segment.

Global Export Rivalry: Chery vs. SAIC vs. BYD

The export market has become the most contested battlefield in early 2026. Chery has taken the lead in absolute volume, exporting 148,800 units in March—a 72% increase that set a new monthly record for Chinese brands. For the full first quarter, Chery’s exports totaled 393,300 units, marking a 53.9% increase. Currently, one out of every five Chinese vehicles sold abroad is a Chery, supported by a global user base exceeding 19.12 million.

SAIC remains a formidable global player with 325,000 overseas units sold in Q1, up 48.3%. The group has maintained its title as the top Chinese brand in Europe for 11 consecutive years, with the MG brand alone delivering over 90,000 units in the region. Meanwhile, BYD is the "growth king" of exports; its March overseas sales reached 119,600 units, a 65.2% year-on-year increase. Exports now account for 46% of BYD’s total sales, suggesting a permanent shift in the brand’s revenue structure.

New Force Reshuffle: Leapmotor Takes the Lead

The "New Force" startup landscape underwent a total reshuffle in Q1 2026. Leapmotor emerged as the quarterly champion with 110,000 deliveries. In March, it broke through the 50,000-unit barrier, achieving a month-on-month growth of 78.25%. Leapmotor's success is attributed to its "matrix" strategy, covering segments from A to D-class and offering both pure electric and extended-range powertrains. Furthermore, with 40,000 units exported in Q1, Leapmotor leads the startup pack in both domestic and international performance.

Besides, Li Auto delivered 95,000 units in Q1, demonstrating newfound strength in the pure electric sector. NIO followed with 83,500 units, while Xiaomi Auto recorded cumulative Q1 deliveries of approximately 79,000 units.

*(Exchange rate: RMB 6.9 = USD 1)*