BUSINESS

Chart of the Day: Chinese Carmakers Set Ambitious 2026 Sales Targets

Published: Jan. 9, 2026 7:01 p.m. GMT+8

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Many Chinese carmakers are heading into 2026 with ambitious sales targets, setting the stage for fiercer competition as industry insiders anticipate a slowdown in the world’s largest auto market.

Geely Automobile Holdings Ltd., one of China’s largest privately owned carmakers, set a goal of selling 3.45 million vehicles in 2026, representing a year-on-year increase of 14%. Chery Automobile Co. Ltd., the country’s top auto exporter, said that it aims to sell 3.2 million cars this year, up 14% from 2025.

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Major Chinese automakers set ambitious 2026 sales targets, including Geely (3.45 million), Chery (3.2 million), Dongfeng (3.25 million), Great Wall (1.8 million), and Xiaomi (550,000).
China's 2025 auto sales reached 31 million (up 11.4% year-on-year); full-year sales may hit 34.5 million, with exports over 7 million.
Challenges in 2026 include reduced NEV tax breaks, higher trade barriers, intense competition, and forecasts of flat or declining domestic sales.

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Who’s Who

Geely Automobile Holdings Ltd.: Geely Automobile Holdings Ltd., a significant privately owned Chinese carmaker, has set an ambitious sales target of 3.45 million vehicles for 2026. This represents a projected year-on-year increase of 14%. This target reflects its aggressive growth strategy amidst intensifying competition in the global and domestic automotive markets.

Chery Automobile Co. Ltd.: Chery Automobile Co. Ltd. is China's leading auto exporter. They have set an ambitious sales goal of 3.2 million cars for the year 2026, which represents a 14% increase from their 2025 sales figures.

Dongfeng Motor Group Co. Ltd.: Dongfeng Motor Group Co. Ltd. is a legacy Chinese carmaker. It has set an aggressive sales target for 2026, aiming for 3.25 million vehicles. This represents a targeted sales growth of over 30% for the year, indicating its ambition in a potentially slowing market.

Great Wall Motor Co. Ltd.: Great Wall Motor Co. Ltd. is a legacy automaker, targeting aggressive sales growth of over 30% in 2026. This would bring their vehicle sales target to 1.8 million units. This ambition comes amidst industry anticipation of a slowdown in the world's largest auto market.

Xiaomi Corp.: Xiaomi Corp. is an electric vehicle (EV) newcomer with aggressive sales targets for 2026. The company aims for over 30% sales growth, targeting 550,000 vehicles. This ambition comes amid an anticipated slowdown in China's auto market and fierce competition.

Zhejiang Leapmotor Technology Co. Ltd.: Zhejiang Leapmotor Technology Co. Ltd. is an electric vehicle (EV) maker. The company has set an ambitious sales target for 2026, aiming to sell 1 million cars. This represents a significant year-on-year increase of 67.6%, indicating their aggressive growth strategy.

Nio Inc.: Nio Inc. (蔚来汽车) is an electric vehicle (EV) manufacturer. While many Chinese carmakers are setting ambitious sales targets for 2026 amid an anticipated market slowdown, Nio Inc. predicted an annual sales growth rate of 40% to 50% in the coming years. This indicates a strong outlook for the company despite increasing competition in the world's largest auto market.

BYD Co. Ltd.: BYD Co. Ltd. (比亚迪股份有限公司) is a leading carmaker in China. The article states that BYD, along with other "top players" like SAIC Motor Corp. Ltd., China FAW Group Co. Ltd., and Chongqing Changan Automobile Co. Ltd., has not yet released its sales targets for 2026. This indicates its significant presence and influence within the Chinese automotive market.

SAIC Motor Corp. Ltd.: SAIC Motor Corp. Ltd. is mentioned among the top players in the Chinese automobile industry. As of the article's publication in January 2026, SAIC Motor had not yet announced its sales targets for the year. This contrasts with several other Chinese carmakers who had already revealed ambitious sales growth goals for 2026.

China FAW Group Co. Ltd.: China FAW Group Co. Ltd. is a major player in the Chinese automotive industry. The article mentions them among the "top players" who have not yet announced their sales targets for 2026.

Chongqing Changan Automobile Co. Ltd.: Chongqing Changan Automobile Co. Ltd. (长安汽车) is noted as one of the top players in the Chinese automobile industry. The article mentions that, along with other major companies like BYD Co. Ltd. and SAIC Motor Corp. Ltd., Chongqing Changan Automobile Co. Ltd. has not yet announced its sales targets for the year 2026.

Morgan Stanley: Morgan Stanley predicted a 7% decline in domestic passenger vehicle sales in China for 2026. This forecast comes amid rising anxiety in the Chinese auto market due to factors like reduced NEV purchase tax breaks and a domestic price war.

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