The Oxford Institute for Energy Studies’ March 2026 “China new energy vehicle (NEV) update” finds that China’s NEV market remains large and growing but is slowing compared with previous years, with total NEV sales reaching around 16 million in 2025 and exports doubling to about 2.6 million units.
Domestic growth has shifted from plug‑in hybrid vehicles toward battery electric vehicles (BEVs), supported by policy incentives and rising battery production. NEVs continue to represent a majority share of passenger vehicle sales.
The expanding market is beginning to influence China’s broader vehicle stock and gasoline demand dynamics, although significant impacts on fuel consumption may take until later in the decade.
The full report is available from the Oxford Institute for Energy Studies: China NEV Update, March 2026.
