China wholesales January 2026: Xiaomi YU7 overall best-seller, BYD down -62.3%

The Xiaomi YU7 is the best-selling vehicle in China in January.

Data by the China Association of Automobile Manufacturers (CAAM) show wholesales drop -3.2% year-on-year in January to 2,346,000 units. However this includes exports (+44.9%) and the models included in our wholesales database add up to just 1,558,135 units, off -13.2% on January 2025. CAAM reports some of the reasons behind this slump are shifting new energy vehicle purchase tax policies, a transition period for local subsidies in key consumer cities and demand pull forward in Q4 2025. Passenger vehicle wholesales drop -6.8% to 1,988,000 units, and new energy vehicles edge up 0.1% to 945,000, accounting for 40.3% of total vehicle sales. Exports surge 44.9% to 681,000 units. BEV exports double to 202,000 units and PHEV exports are up 97.3% to 99,000.

This month we have stunning events both in the brands and models ranking with orders completely reshuffled. In the brands top spot we have Geely (-16.8%) as it was also the case a year ago in January 2025, the carmaker always performing well at the start of the year. It however frankly trails the market this month. Its best-seller in January is the Boyue L (+56.5%) up spectacularly to over 34,000 sales. The Xingyuan (+3.1%) is up slightly while its other star model the Xingyue L (-19.1%) suffers from a very high year-ago performance. A worrying sign, the Galaxy NEV lineup crashes -27.7% year-on-year to just 28,034 units. Volkswagen (-6.7%) is back up to #2 and limits is YoY fall somewhat thanks to strong performances by the Tiguan L (+26.4%), Magotan (+18.6%) and Tayron (+17.1%).

Geely is #1 in January but its Galaxy NEV lineup is down -27.7%

In third place, Toyota is actually up 3.8% to just under 130,000 sales. The Corolla Cross (+99.2%), Avalon (+55.7%), Crown Kluger (+42.8%), Camry (+11%) and Front Lander (+8%) all help lift the Japanese carmaker up. The big surprise of the month is the paltry 4th place of BYD, freefalling -62.3% to just 68,586 sales. This is the brand’s weakest monthly volume since August 2021 (67,630). Startlingly, BYD can’t place any model in the January Top 45, with its best-seller the Song Pro at #48! Only the Dolphin (+22.4%) manages a year-on-year uptick, with traditional best-sellers all collapsing: the Qin L is off -63.4%, the Qin Plus is at -64.6%, the Seagull at -70.7% and the Seal 06 at -53.2%. The new Sealion 06 (6,640) and Seal 05 (2,421) can’t help the brand fall heavily. This is no doubt a freak event but augurs badly for the rest of 2025 which could see Geely snap the overall top spot. 

Nissan (+13.8%) shines at #9 and is the only additional Top 10 member in positive while Audi (-3%) and BMW (-3.9%) both hold relatively well. Below, Fang Cheng Bao (+217.3%), NIO (+162.2%), AITO (+83.3%), Xiaomi (+70.3%), Zeekr (+60.2%), Aion (+59.1%) and GAC (+48.6%) all go against the grain to post tremendous YoY gains. Reversely Jetour (-53.9%), Tesla (-45.2%), Changan (-41.9%), Xpeng (-40.7%), Mercedes (-30.8%), Leapmotor (-23.8%), Haval (-23.3%) and Hongqi (-22.3%) all struggle. Even the latest superstars such as Jetour, Leapmotor and Xpeng can’t muster up decent results in a wild month.

Fang Cheng Bao sales continue to rise.

The other big surprise in January is located in the models overall pole position. Launched in June and after ranking #5 in October and #3 in December, the Xiaomi YU7 electric SUV spectacularly takes the lead with just under 38,000 sales. This is a fantastic result for what has been the most successful model launch in Chinese history, after receiving 200,000 orders in 3 minutes when put on sale. Its main competitor the Tesla Model Y (-34.4%) sells less than 17,000 units in January. Geely completes the podium with the Boyue L (+56.5%) and Xingyuan (+3.1%). The Honda CR-V (+76%) shoots up to #4 but it seems sales of its Breeze twin were added to the total. The AITO M7 (+213.3%) confirms its blockbuster status at #5. The NIO ES8 (+3856.3%) confirms its revival at #16 vs. #159 over the Full Year 2025. The Fang Cheng Bao Tai 7 (#18) is the next best-selling new launch ahead of the Li i6 (#20).

Previous post: China wholesales 2025: Geely overtakes VW, Toyota, places Xingyuan at #1. Domestic brands at 65% share

One year ago: China wholesales January 2025: Geely best-seller, market off -11.7%

Full January 2026 Top 98 All brands and Top 594 All models below.