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The China Passenger Car Association (CPCA) released data on November 9: in October 2026, national passenger car retail sales reached 1.643 million units, down 27.1% year-on-year; cumulative retail sales from January to October totaled 14.978 million units, down 22.3% year-on-year. While the overall market is declining, the EREV (extended-range electric vehicle) segment is growing against the trend. In October, wholesale volumes of EREV models reached 152,000 units, up 19.9% year-on-year and 31.3% month-on-month, with brands such as Xiaomi driving the month-on-month momentum. The Xiaomi Pengcheng was launched on September 7, and in October—its first full delivery month—sales exceeded 50,000 units, delivering significant increment to the EREV market.
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