Association of Passenger Cars: In May 2026, the estimated wholesale volume of new energy passenger cars from domestic car companies in China will reach 1.36 million units, with a year-on-year and month-on-month increase of over 11%.

According to the China Passenger Car Association, in May 2026, the estimated wholesale sales of domestic new energy passenger vehicles will reach 1.36 million units, with a year-on-year and month-on-month increase of over 11%, achieving double-digit growth in both year-on-year and month-on-month comparisons, indicating a preliminary recovery trend in the new energy sector. Due to the disruption of navigation through the Strait of Hormuz, the domestic retail price of finished oil has experienced two rounds of increases, with the cumulative increase approaching 400 yuan per ton, significantly raising the cost of fuel for vehicle use and suppressing demand for traditional fuel vehicles. The overall car market is under pressure and weak, with new energy vehicles becoming the core growth highlight in the market.