October 2026 China EV Sales: BYD Leads, Xpeng Hits Record, Li Auto Slides

Key points

• BYD sold 483,125 passenger cars globally in October 2026, with its Dynasty and Ocean series accounting for 423,843 units.
• Xpeng delivered 50,237 vehicles, a 22% month-over-month increase, marking its highest monthly total and a record for overseas deliveries at 13,326 units.
• Leapmotor delivered 106,127 units, up 50.99% year-over-year, and is on track to deliver its 2-millionth vehicle in November.
• Li Auto delivered 29,025 units, down 8.6% year-over-year, marking its sixth consecutive monthly decline and the first month without CATL batteries.
• Xiaomi delivered over 50,000 units, its highest monthly total of 2026, but has only achieved 61.2% of its 550,000 annual target through October.

Background

Chinese EV sales have faced a challenging 2026, with domestic NEV retail sales falling 16.7% year-over-year in September, marking the ninth consecutive monthly decline. This downturn follows a record 67% plug-in share in September, as internal combustion engine sales crashed 49% year-over-year. The market has seen a sharp divergence among Chinese EV makers, with some brands like BYD and Xpeng surging while others like Nio and Li Auto have struggled.

How outlets are covering it

CarNewsChina provides a comprehensive breakdown of October sales for major Chinese EV makers, highlighting BYD's lead and the performance of various sub-brands. Yahoo Finance focuses on Xpeng's record deliveries and its progress in overseas markets and robotaxi development. CnEVPost emphasizes Xiaomi's return to year-over-year growth in October, driven by its new Sky Nomad EREV, while noting the significant gap between its current pace and its annual target. Moomoo highlights the widening divergence among new EV startups, with Leapmotor and Xpeng thriving while Nio and Li Auto face pressure, and notes the broader industry's 'peak season that fails to deliver' characteristic.

Why it matters

The October results underscore the intense competition and rapid shifts in the Chinese EV market. The divergence among brands highlights the challenges of scaling, product cycles, and market saturation. Xpeng's record and Leapmotor's sustained growth suggest strong demand for new models and features, while Li Auto's decline and Xiaomi's struggle to meet its target indicate the difficulty of sustaining growth in a competitive and evolving market. These trends will likely influence investment decisions, strategic partnerships, and future product launches in the Chinese EV sector.

What to watch

Xiaomi will need to deliver approximately 106,755 vehicles per month in November and December to approach its 550,000 annual target. Xpeng aims to reach a monthly sales target of 60,000 vehicles in the fourth quarter, supported by new SUV models. Leapmotor is expected to deliver its 2-millionth vehicle in November. The broader market is expected to bottom out and begin to recover in 2027, according to Cui Dongshu of the Passenger Car Association.