On July 23, 2026, Beijing Time, Tesla released its Q2 2026 earnings report.

This quarter, Tesla globally produced over 451,000 pure electric vehicles, a year-over-year increase of approximately 10%; deliveries exceeded 480,000 units, a year-over-year increase of approximately 25%, setting a new historical high. Regionally, the Americas, Asia-Pacific, and EMEA (Europe, Middle East, and Africa) markets saw quarter-over-quarter delivery growth of 60%, 27%, and 12% respectively. By the end of the second quarter, Tesla's undelivered orders had reached the highest level since 2023, with market demand remaining strong. 

Shanghai Gigafactory delivered over 89,000 electric vehicles in June, a year-over-year increase of 24.4%, setting a new high for the year; it delivered nearly 468,000 units in the first half, a year-over-year increase of 28.4%. Thanks to increased vehicle deliveries and growth in other businesses, Tesla's total revenue for Q2 2026 grew by 26% year-over-year, reaching $28.2 billion.

In terms of model performance, Model Y remained the sales champion in multiple markets. The large six-seater luxury SUV Model Y L, designed and developed with China leading the initiative and manufactured there, is gradually being launched in multiple global markets including the United States, UAE, South Korea, Japan, Singapore, Australia, etc., attracting many consumers to test drive at stores and igniting a purchase craze. Currently, Tesla has over 9 million owners globally. Model Y has been the global sales champion for three consecutive years, with cumulative sales exceeding 4 million units. Against the backdrop of high global fuel prices, more and more gasoline car owners are choosing to trade in and purchase Tesla, switching to cost-saving and hassle-free pure electric travel.

Asia-Pacific market demand continues to grow. In June 2026, Model Y sales in Australia exceeded 8,000 units, a significant year-over-year increase of 133.5%, setting a new single-month sales record and becoming the best-selling vehicle across all categories in the local car market. This also marks the second consecutive month for Model Y to be the passenger car sales champion in Australia. The New Zealand market saw synchronized sales, with Model Y also becoming the best-selling vehicle across all categories in the local car market in June. In the Malaysian market, the two models progressed hand-in-hand: Model Y became the best-selling imported brand electric vehicle in Malaysia in June, and Model 3 became the best-selling pure electric sedan in Malaysia in June. 

Sales in the European market continued to rise. Data shows, Model Y became the best-selling pure electric vehicle in Europe for May with single-month sales exceeding 17,000 units, while Model 3 followed closely with sales exceeding 11,000 units, seeing a year-over-year surge of 198%. Looking at cumulative sales from January to May 2026, Model Y cumulative sales have exceeded 76,000 units, firmly holding the position of the best-selling pure electric vehicle in the European market. Not long ago, Tesla Model Y cumulative sales in Norway broke 100,000 units; in Iceland, where the resident population is only about 380,000, Tesla sales have exceeded 10,000 units, once again breaking the stereotype that pure electric vehicles are unsuitable for cold regions with strong product power. 

Additionally, Tesla set new delivery records in multiple markets, such as South Korea, Australia, Colombia, Japan, Thailand, Portugal, Philippines, Chile, Slovenia, and Lithuania. 

Regarding product reliability and residual value, Tesla's latest impact report shows that after driving approximately 320,000 kilometers, the battery capacity of Model 3/Y still averages approximately 80%. Calculating based on 20,000 kilometers driven per year, a Tesla can be driven for over 15 years. Comparing with the industry durability test generally at the equivalent of 200,000-300,000 kilometers level, every mass-produced Tesla vehicle must complete equivalent 400,000 kilometers of extreme road tests before launch. In addition, according to data jointly released by the China Association of Automotive Distributors and Jingzhengu, Model X, Model 3, and Model Y have occupied the top three for the three-year resale value of pure electric vehicles in China for consecutive months, further verifying their long-term reliability and market recognition. 

Regarding other vehicle products, the Tesla electric truck Semi will commence mass production this year as planned at the new factory in Nevada. 

Gasgoo learned that recently, BYD reached an important milestone in the Thailand market, with cumulative deliveries of new energy vehicles officially exceeding 130,000 units. At the same time, the BYD Thailand factory located in Rayong Province WHA Industrial Park celebrated its second anniversary of production, and the new model BYD SEALION 5 DM-i was also officially released.

Image Source: BYD

The BYD Thailand factory is its first overseas passenger car production base, with a designed annual production capacity of 150,000 units. Currently, the factory has achieved localization production for five models: BYD DOLPHIN, BYD ATTO 3, BYD SEAL 5 DM-i, BYD SEALION 5 DM-i, and BYD SEALION 6 DM-i, and all have obtained the "Made in Thailand" (MiT) certification issued by the Federation of Thai Industries.

In two years since production started, BYD in Thailand has continuously deepened its localization development, with significant results: the factory has cumulatively created over 5,000 job positions, Thai employees account for about 93%, and the local parts procurement ratio has reached 50%. This marks that BYD has deeply integrated into the Thailand automotive industry chain, effectively driving local collaborative development.

At the event, BYD delivered the 130,000th new energy vehicle to Thai consumers, the model being BYD SEALION 5 DM-i. The pre-sale price for the Standard version of this model was announced simultaneously, which will further enrich its DM-i product matrix.

BYD officially announced the latest overseas market data on July 12. The brand's cumulative new energy vehicle deliveries in the Thailand market officially exceeded 130,000 units. Coinciding with the second anniversary of BYD's Thailand CKD factory production launch, the event also saw the regional premiere of the new model BYD SEALION 5 DM-i. With the dual achievements of a sales milestone and a new car launch, the brand's deep foundation in the Southeast Asian market was verified. During the offline delivery ceremony on the day, the commemorative 130,000th new energy vehicle was the newly released SEALION 5 DM-i. The vehicle was delivered to well-known Thai film and television actress Usa Sencan. She became well-known to locals for her role as Grandma in the film A Letter to Grandma. Selecting a popular local actor as the milestone owner effectively narrows the distance between the brand and local ordinary consumers, further shaping a brand image that fits local Thai life.

BYD Thailand factory is located in Rayong Province WHA Industrial Park, which is also the brand's first overseas passenger car production base globally. The factory's planning and design annual production capacity is 150,000 units. Since production launch, the factory has steadily promoted the localization process of whole vehicle manufacturing. Five main models have been locally produced. The product matrix covers compact pure electric sedans, city pure electric SUVs, and multiple household plug-in hybrid SUVs, namely DOLPHIN, ATTO 3, SEAL 5 DM-i, SEALION 5 DM-i, SEALION 6 DM-i. They comprehensively cover mainstream commuting and multi-person family travel needs in the Thailand market. These five locally produced models have successfully obtained the MiT Thailand Made Certification granted by the Thailand Industrial Federation (FTI). This certification is a key qualification for local new energy vehicles to enjoy car purchase subsidies and tax preference. At the same time, it represents that the whole vehicle manufacturing process and parts supply standards perfectly fit local Thai industrial specifications, which can effectively control terminal selling prices and enhance product competitiveness in the local market.

Reviewing the factory's two-year development journey, BYD's sales growth momentum in Thailand has been very rapid. In November 2025, the factory completed the delivery of the 70,000th whole vehicle. The delivery model was SEALION 6, and the owner was an excellent local employee of the factory, Pattaraporn. In just eight months, the cumulative market delivery volume climbed from 70,000 units to 130,000 units, adding 60,000 new deliveries, which intuitively reflects that Thai consumers' acceptance of new energy vehicles continues to improve. Charging facilities distribution for new energy vehicles in Southeast Asian cities is uneven. Long-distance travel with pure electric models often faces power replenishment difficulties. BYD's mature DM-i super hybrid system happens to solve this pain point. Short-term commuting relies on pure electric mode to reduce vehicle usage costs, while long-distance travel relies on the fuel system to eliminate range anxiety. This power technology adapted to regional travel scenarios is the core factor for continued strong sales of several hybrid SUVs under the brand.

Beyond production capacity and sales growth, BYD Thailand factory continues to promote supply chain and talent localization construction. During the two-year production launch, the factory created a large number of local jobs. The proportion of Thai employees in grassroots and technical positions exceeds 90%. At the same time, the local parts procurement ratio continues to be improved, driving the synchronized development of Thailand's local auto parts supporting industry, and helping the local industry to improve the new energy vehicle upstream and downstream industry system. The official launch of the SEALION 5 DM-i this time further perfects the brand's compact hybrid SUV product line, which can compete head-on with local mainstream fuel and hybrid models, enriching Thailand consumers' new energy vehicle purchasing choices.

From the landing of the first overseas whole vehicle manufacturing base to exceeding 130,000 deliveries in two years and five models achieving local mass production, BYD has firmly occupied the mainstream position in the Thailand new energy market by relying on the local production model and hybrid products tailored to regional travel needs. Relying on mature overseas manufacturing bases and a complete product layout, the brand will continue to launch new models in the future, continue to dig deep into the ASEAN market, use Thailand as a fulcrum to radiate the entire Southeast Asia, continuously improve the overseas influence of Chinese new energy vehicle brands, and provide reliable solutions for green transportation transformation in the Southeast Asia region.

The competition in the domestic passenger vehicle market has entered a deep stock game phase, and the industry elimination race continues to intensify. The system operation capability of automakers, the efficiency of new energy transformation, and the depth of globalization layout have become core indicators for measuring brand comprehensive competitiveness. With the formal disclosure of automaker production and sales data in May 2026, Changan Auto delivered a high-value monthly report card with all-domain balanced market performance. Relying on the robust trend of full-category product matrix efforts and synchronized growth in domestic and overseas markets, Changan Auto continues to firmly remain in the top tier of mainstream domestic automakers.

Overall Sales Stable with Growth, New Energy Transformation Results Highlighted

Data shows that Changan Auto's overall delivery volume in May reached 209,100 units, with single-month deliveries stably breaking through the 200,000 unit threshold, solidifying the brand's core market base. This achievement is not a temporary market surge, but a normalized result of the enterprise's all-category product collaborative efforts, continuous optimization of the vehicle manufacturing system and supply chain system, and the continuous highlight of systematic advantages.

The new energy business continues to serve as the core pillar of Changan Auto's growth. In May, the brand's new energy model deliveries reached 92,400 units, marking that its electrification transformation has fully shifted from the strategic layout stage to the harvest cycle of scaled implementation. The continuous expansion of new energy business volume effectively lifts the brand's overall growth potential, and coupled with the high-speed breakthrough of the overseas market, it has opened up a new incremental space for the brand.

Overseas Market Storming Forward, Globalization Layout Enters Harvest Period

Essentially, the current competitive landscape of independent automakers has been reconstructed, and the market boundaries are no longer limited to domestic regional competition. Globalization operation capability and overseas market deep cultivation results have become the key core for top automakers to pull away industry gaps.

Looking at specific data, Changan Auto's overseas deliveries in May reached 70,700 units, a year-on-year increase of 38%, with single-month overseas growth rate ranking in the top tier of independent automakers. Looking at the annual cumulative performance, the growth potential is more outstanding. From January to May 2026, Changan Auto's overseas cumulative sales reached 130,531 units, a significant year-on-year increase of 167%, achieving a doubling growth. This bright data confirms the brand's strategic results of years of deep cultivation in overseas channel construction and promoting product localization adaptation, and the globalization layout has officially entered a high-speed realization period.

Sub-Brands Blossom in Multiple Areas, New Cars Overseas and Domestic Continuously Stand Out

Multi-brand and multi-category collaborative layout is the core advantage for Changan Auto to resist market fluctuations and achieve all-domain growth. The positioning of its sub-brands is precise and the racing lanes are clear, fully covering household transportation, high-end smart, commercial travel, overseas export and other sub-segments. A complete hierarchy and all-domain coverage product matrix has greatly improved the brand's market error tolerance rate and comprehensive competitiveness.

In terms of sub-brand dimensions, Changan Qiyuan's May delivery volume was 34,528 units, among which the core AQ Series market performance was outstanding, with a year-on-year increase of 51%, and main model sales continued to maintain a hot trend. The brand's all-new Q05 model successfully landed in the Southeast Asia market, with orders breaking through 3,000 units three days after its launch in Thailand, quickly opening up the overseas sub-market and fully verifying Changan models' global product competitiveness and localization adaptation ability.

Deepal Auto continued a steady growth trend, with May sales of 33,243 units, a year-on-year increase of 30%, and the growth trend continued to be positive. The main model Deepal S05, with balanced product comprehensive strength and affordable pricing, continues to capture the mainstream household new energy market. Cumulative sales have exceeded 220,000 units, and market reputation and holdings are steadily rising. The high-end brand Avatr also achieved steady progress simultaneously, with May deliveries of 7,336 units, and recognition in the high-end smart car market continues to improve, helping Changan Auto complete its high-end market layout.

Fuel Power Iteration Upgrade, New and Old Kinetic Energy Seamless Connection

Indeed, Changan Auto's market breakthrough is not a phase dividend of a single lane, but the balanced result of fuel and new energy dual track parallel development and dual empowerment, achieving orderly iteration and collaborative growth of new and old kinetic energy.

Addressing diversified market consumer demands, Changan Auto continues to deepen traditional fuel power technology iteration and upgrade. The brand's all-new Blue Core Super Engine system has officially landed, and the 4th Generation CS75 PLUS and 4th Generation Eado dual cars simultaneously launched sales and delivery, with a starting price of 79,900 offering high market cost-performance. The new power architecture carried by the new cars achieves significant optimization of energy consumption, significantly reducing fuel consumption, with a range up to 1,500 km, effectively solving user long-distance travel energy consumption and range pain points, allowing traditional fuel models to still possess strong core competitiveness in the new energy market environment.

The commercial vehicle segment also achieved steady growth. Changan Kaicheng delivered 21,100 units in May, with new energy model deliveries increasing by 21% year-on-year. The steady progress of commercial vehicle new energy transformation complements Changan Auto's passenger and commercial combined, all-category coverage industry layout, achieving multi-track collaborative development.

Technical Strategy Deep Implementation, Laying Solid Foundation for Long-Term Development

Anyway, pure sales data can only reflect the brand's short-term market performance. The core power supporting Changan Auto to continue leading the industry stems from deep technical accumulation and long-term stable strategic layout.

Globalization strategy implementation has achieved landmark progress, and Changan Auto has officially become the global official partner of the Portugal National Team. Relying on the "All-Inclusive" globalization strategy, the brand continues to perfect overseas marketing, after-sales, and channel systems, accelerating the promotion from product export to brand, technology, and service all-around outward transformation strategy upgrade, and continuously deepening the globalization layout.

The intelligent field iteration pace continues to accelerate. Based on the "Beidou Tianshu" intelligent strategy, Changan Auto's independently developed Tianshu end-to-end intelligent driving technology is about to achieve mass production deployment, and the process of independent core technology landing continues to speed up. At the product level, the all-new Avatr 07L has completed the Ministry of Industry and Information Technology declaration, will be the first batch equipped with Huawei Qiankun ADS 5.0 high-end intelligent driving system, and凭借 advanced intelligent configuration, solidifying the brand's pre-emptive advantage in the high-end smart travel lane.

Zhang Guan Commentary

From fuel power technology innovation to new energy scaled growth, from domestic market solid deep cultivation to overseas market leapfrog breakthrough, from product iteration upgrade to core technology independent control. Changan Auto's bright market performance in May was not accidental, but an inevitable result of the enterprise's long-term strategic adherence and system capability continuous precipitation. Against the background of industry deep reshuffle, this all-domain collaboration and multi-dimensional progression development model will continue to become the core support for Changan Auto to lead the passenger vehicle market.

More comfort, more ease = A choice for more people

Chinese Smart Manufacturing 🦾 Driving to the World 🌏

「 For every 3 sold, 1 is exported overseas 」

Author | Zhen Yao

Editor | Li Guozheng

Produced by | BNN Studio (gbngzs)

209,100 units — On June 1, Changan Automobile announced its May delivery results.

This number, against the backdrop of a generally pressured auto market in May, is considered stable. However, if only looking at the total, one might miss Changan Automobile's true brilliance:

First, new energy vehicles totaled 92,400 units, a year-on-year increase of 5.8%. Second, all 5 of its sub-brands showed positive growth, none lagging behind. Third, and the biggest highlight, overseas sales reached 70,700 units, a year-on-year surge of 38%, accounting for 33.8% of total sales — almost 1 in every 3 cars sold is exported overseas.

This is not accidental. In all of 2025, Changan's overseas sales were 637,000 units, a year-on-year increase of 18.9%. In the grand picture of China's auto exports, Changan is not the largest by volume; SAIC and Chery are above it. But in terms of growth rate and structure, Changan deserves to be observed separately.

Behind the steady climb in sales lies the solid advancement of three major plans.

In May, Changan officially announced it became a Global Partner of the Portugal National Team, with Plan 'Harmony in Diversity' 2.0 making another move; Self-developed Tianshu Leading End-to-End technology will enter mass production vehicles in the second half, Plan 'Beidou Tianshu' 2.0 wins another victory; Blue Whale Super Engine dual vehicles began delivery in hundreds of cities and thousands of stores, Plan 'Shangri-La' reduces blue-plated fuel consumption by half.

Sub-brands are blooming, new technologies are landing faster, signing the Portugal national team — Changan Automobile is preparing a trump card for the June Chongqing Auto Show.

▍01

1 out of 3 sold goes overseas

Let's look at the sub-brands' performance first. This is the most direct way to judge a car company's health.

Changan Qiyuan delivered 34,528 units in May, the largest volume among all sub-brands. The big single product, new Q05, delivered 15,812 units in a single month, accounting for 45.8% of Changan Qiyuan's total sales.

More notably, Q05 launched in Thailand for 3 days, orders exceeded 3,000 units. Usually, a new car's first fight results in overseas markets often better reflect product strength than domestic performance.

Changan Yinli (CS Series), 5 月 delivered 48,900 units in May, CS75PLUS and Eado Blue Whale Super Engine dual vehicles launched, sale price starting from 79,900 yuan. This is Changan's base business, and also the most stable sector for profit contribution.

Avatr delivered 7,336 units in May. The absolute number isn't large, but the value is high. Avatr 07L has appeared in the MIIT announcement, will be the first batch equipped with Huawei Qiankun ADS 5. This car is viewed internally by Changan as a gateway to the European market, and also means Changan has another ace deeply bound with Huawei on the intelligent track.

Commercial Vehicle Sector: Changan Kaicheng delivered 21,100 units in May, new energy sales increased 21% year-on-year. Although the commercial vehicle track isn't as eye-catching as passenger cars, Kaicheng's growth shows Changan's layout in the B-end market has seen results.

The most eye-catching is Deepal, with May sales of 33,243 units, up 30% year-on-year. Overseas cumulative sales from January-May were 28,704 units, up 167% year-on-year. Deepal is Changan's fastest-growing sub-brand overseas, almost 1 out of every 2 sold goes overseas.

5 sub-brands, 5 growth curves, none shrinking. "Many car companies rely on only one or two hit products. Once a hit product weakens, the whole structure collapses. Changan is not. Its overall structure is more risk-resistant." A senior industry insider told BNN Studio.

More importantly, Changan's overseas structure is healthy, not propped up by one or two markets. It has volume in Southeast Asia, Middle East, South America, and the European market is also accelerating.

A healthy structure means the overseas market is no longer icing on the cake for Changan, but a second growth pole.

▍02

Signing the Portugal National Team to Get a Gateway Ticket

Returning to over ten days ago, on May 22, in Lisbon, Portugal, Changan Automobile signed a global strategic cooperation agreement with the Portuguese Football Association (FPF), becoming the global official partner of the Portugal National Team.

In Changan's official communication, a word keeps appearing — "Stay in the game", meaning "Always Present". This is both the concept of the Portuguese Football Association and Changan's globalization proposition.

If only understanding this matter as a one-time sports marketing, it's too shallow.

Since establishing its design center in Turin, Italy in 2001, Changan Automobile has deeply cultivated Europe for 25 years, but has always faced a challenge there: insufficient brand awareness.

"European consumers know Chinese cars are cheap with high configuration, but are unwilling to pay a premium for Chinese brands. The problem is not with the product, but with trust." A person who has long followed auto exports said.

How to build trust? Ads are not enough, exhibitions are not enough; football might be the most efficient path currently.

In Europe, the influence of the Portugal National Team needs no saying, Cristiano Ronaldo's afterglow remains, and new generation players are taking over. The key is Portugal is the connection point between Western Europe and Southern Europe, with a very wide language and cultural radiation range.

"Europe is Changan's key layout area for its globalization strategy, and also the core breakthrough market for Plan 'Harmony in Diversity' 2.0." A relevant person from Changan Automobile told BNN Studio. "The Portugal National Team is a top team in the global football world. Changan's signing this time is a key measure to use top sports IP to break through European local awareness barriers and accelerate market penetration."

The time window is also precise. With the 2026 World Cup in Mexico/Canada/USA imminent, "Stay in the game" and Changan's "Always Present" rhythm highly coincide.

Changan is the first Chinese car brand to reach an official cooperation with a top European football national team, capable of achieving a "One Signing, Global Resonance" brand effect, simultaneously radiating key markets such as Eurasia, Southeast Asia, and South America.

Currently, Changan Automobile is accelerating the promotion of a localization strategy "In Europe, For Europe", core is 4 principles: Long-termism, Localization, Systematization, and integrated ESG construction.

BNN Studio learned that the models Changan is prioritizing in Europe include Qiyuan Q05, Deepal S05, Deepal S07, and Avatr series. These cars are not simply moving domestic models over, but making localized adjustments for the European market.

▍03

No Overseas, No Changan; No Base, No Overseas

Unlike the short-term trade-style overseas expansion of most car companies, Changan persists in the long-term overseas path of localization cultivation and systematic implementation.

As of now, Changan has built 22 overseas manufacturing bases, with an annual capacity of 350,000 units, covering 118 countries and regions; possessing 1,124 overseas sales outlets, launching 41 models.

The Rayong Factory in Thailand is the most mature sample. This factory not only supplies the Southeast Asian market but also undertakes the function of radiating the right-hand drive market. In Kaicheng's May performance, a considerable part comes from the overseas commercial vehicle market.

"No Overseas Without Bases," Changan Automobile Chairman Zhu Huarong emphasized this sentence repeatedly on multiple occasions. In plain terms, it means — without building factories, without building systems, it does not count as truly entering a market.

This forms a sharp contrast with the path of some car companies prioritizing trade before manufacturing. Changan's heavy assets mean high investment, slow returns, but once connected, the barriers are extremely high.

Currently, Changan is simultaneously promoting localized operations in key global regions such as Eurasia, Southeast Asia, South America, Middle East, and Africa, with the goal of 1.5 million overseas sales in 2030. This means in the next 4 years, overseas sales need to more than double.

Looking at the timeline, Changan's globalization path is very clear:

In 2023, Plan "Harmony in Diversity" 1.0 was launched, core is going out, including building factories, laying channels, investing models.

At the 2026 Beijing Auto Show, Plan "Harmony in Diversity" 2.0 was launched, core is digging in, upgrading from manufacturing to full business chain — manufacturing, trade, investment, service, ESG integrated.

Recent signing of the Portugal National Team is a key step in overseas branding, aiming to build brand awareness in overseas markets.

These three steps constitute a complete leap: from product overseas, to brand overseas, to industry overseas.

Currently, Changan is in a critical period transitioning from the second to the third stage. Signing the Portugal National Team is a landmark event of the second stage. In the third stage, Changan will establish a localized operation system in Europe similar to Toyota, Volkswagen.

Chinese cars going overseas in recent years, too many highlight moments, and also too many messy situations. Some car companies' overseas sales surged quickly, but profits were thin; some companies had a broad layout but failed to truly take root in a market.

Changan's characteristic is not pursuing short-term traffic-style surge, persisting in high-quality, systematic, sustainable globalization growth, carving out a new paradigm for Chinese car companies' steady deep cultivation and long-term victory overseas.

At the June Chongqing Auto Show to be held soon, Changan will focus on displaying globalization layout achievements, intelligent new energy technologies, and the full range of models.

Deeply cultivating global presence, always present.

In the wave of Chinese auto exports, the world will see a different Changan.