China’s vehicle export growth is not only a sales story. It is the beginning of a new industrial cycle. During the first half of 2026, Chinese automotive manufacturers reached unprecedented export volumes.

Chery led the ranking with nearly 900,000 vehicles, followed by BYD, Geely, SAIC Passenger Vehicle and Tesla China. At the same time, new players such as Leapmotor are rapidly developing their international presence.

These export figures are a strong indication of what will happen in the coming months and years.

Exporting vehicles is generally the first step:

Exports → Market development → Local support → Local industrialisation

As sales volumes increase, automotive manufacturers need to build stronger capabilities in their target markets: distribution and after-sales networks; homologation and technical support; local engineering and quality capabilities; supplier development; assembly and, progressively, local production.

In our view, the vehicles exported today are preparing the industrial footprints of tomorrow. This transition is already visible, with Chinese automotive groups developing manufacturing projects outside China, including in Europe.