China’s carmakers eye record 12 million overseas sales in 2026 as ‘go global’ plan pays off

Chinese automakers are optimistic about achieving a record 12 million overseas sales by 2026, as their "go global" strategy appears to be paying off. The surge in export growth, driven by conflicts in the Middle East causing an international energy crisis, has exceeded expectations. Leading carmakers like BYD and Chery Automobile have expanded their reach into markets previously dominated by international brands such as Volkswagen.

According to Cui Dongshu, secretary general of China Passenger Car Association (CPCA), the sluggish domestic market has pushed carmakers to focus on exports. In the first eight months of 2026, Chinese vehicle deliveries outside the mainland increased by 51 percent year on year to 7.45 million units. Overseas sales include both Chinese-made vehicles and those made in foreign plants under Chinese branding.

BYD, the world's largest EV builder, saw an 85.7 percent year-on-year sales surge, while Chery's exports increased by 68.2 percent, surpassing initial forecasts. If Chinese carmakers achieve this ambitious target, their sales would nearly triple since 2020, when they recorded 1.08 million units abroad. The growth could help cushion against a weak domestic market, which dropped by 20 percent in the same period.

However, analysts warn that a potential reduction in the tax rebate rate could slow growth in 2027. Despite this, CPCA's Cui remains optimistic, highlighting growing demand for EVs in various markets where Chinese carmakers are expanding.