Hainan confirmed as China's first province to ban sales of fuel-powered vehicles

FAW Jiefang announced on July 13 that its net profit attributable to shareholders of listed companies for the first half of 2026 is projected to range from 270 million yuan to 320 million yuan, representing a year-on-year jump of 1,274% to 1,528%. During the reporting period, the company drove sales growth by continuously optimizing product mix, expanding overseas presence and tapping into full-chain service value. Meanwhile, it advanced lean operation management, strictly controlled costs and expenses to boost profitability. Driven by coordinated efforts across products, overseas business, services and cost control, the firm saw simultaneous improvements in operational resilience and quality, leading to a sharp year-on-year surge in net profit.

According to the China Association of Automobile Manufacturers (CAAM), the passenger vehicle market maintained structural divergence in June 2026. Domestic demand remained under pressure while exports posted robust growth. Sales of fuel vehicles slumped markedly amid volatile high oil prices, whereas new energy vehicles sustained steady growth with their market share further climbing. In June 2026, passenger vehicle output reached 2.373 million units and sales hit 2.402 million units, rising 5.9% and 6.6% month-on-month, yet falling 2.8% and 5.3% year-on-year respectively. For the first six months of 2026, cumulative production and sales of passenger vehicles stood at 12.721 million units and 12.72 million units, down 5.9% and 6% year-on-year.

[In June, China's NEV sales were about 1.643 million units, up 23.6% YoY, with a penetration rate of about 58.5% for the month] In June, China's NEV sales were about 1.643 million units, up 23.6% YoY, with a penetration rate of about 58.5% for the month. Of which, domestic sales were about 1.12 million units, up 6.7% MoM but down 0.4% YoY. Of which, domestic sales of passenger NEVs were about 1.007 million units, up 6.3% MoM but down 4.5% YoY; domestic sales of new energy commercial vehicles were 113,000 units, up 9.9% MoM and up 61% YoY. In exports, NEV exports in June were about 523,000 units, up 17.2% MoM and up 1.6x YoY. Of which, passenger NEV exports were 510,000 units, up 17.3% MoM and up 1.6x YoY; exports of new energy commercial vehicles were 13,000 units, up 11.8% MoM and up 60.9% YoY.