The global automotive market in the first half of 2026 delivered its results amidst multiple shifts: escalating geopolitical conflicts, repeated supply chain disruptions, and the electrification transition entering a critical phase. Looking at internationally mainstream automakers with announced data, the sales landscape shows significant differentiation: Japanese, German, and American traditional giants generally face pressure and decline, while some Chinese independent brands and automakers focusing on emerging markets achieve resilient growth. This structural reshuffle reflects the profound reshaping of the global automotive industry landscape.

Toyota Retains Sales Crown, Multiple Chinese Brands Reach the Top Tier

According to the official H1 2026 global sales data announced by each automaker, Toyota Motor remained the sales champion for the first half of the year, with global sales of approximately 5.39 million units, a year-over-year decrease of 2.8%. This marks the first time Toyota has seen a year-over-year decline in global H1 sales in two years. The Volkswagen Group ranked second globally with approximately 4.126 million sales, with the year-over-year decline widening to 6.3%, a gap of 1.26 million units from Toyota. The Hyundai Motor Group (combined Hyundai and Kia) had a total H1 sales of approximately 3.579 million units, overall performance relatively stable, holding the third place globally.

(Note: Some automakers have not yet announced H1 sales data)

The Stellantis Group ranked fourth with H1 sales of 2.958 million units, the only traditional giant achieving double-digit positive growth, with a year-over-year increase of 11%, demonstrating surprising resilience and elasticity. Stellantis Group H1 global sales were approximately 1.36 million units in the first quarter, a year-over-year increase of 12%; 1.597 million units in the second quarter, a year-over-year increase of 10%, mainly driven by the North American and European markets.

General Motors delivered approximately 2.721 million units in the first half of the year, a year-over-year decrease of 8.9%. However, benefiting from the high premium of North American pickups and SUVs, its sales revenue instead grew counter-trend slightly to $91.7 billion, showing the rare characteristic of "volume down, profit stable".

Notably, Chinese brands occupy three spots on the top 10 list. BYD's cumulative sales reached 1.809 million units in the first half of the year, a year-over-year decrease of 15.7%. Geely's total sales for the first half of the year were approximately 1.423 million units, including brands such as Geely, Lynk & Co, and Zeekr, a slight year-over-year increase of 1%, with new energy product penetration reaching 56%. During the same period, Chery Group's total sales for the first half of the year reached 1.358 million units, a year-over-year increase of 7.7%, setting a new historical high. Among them, June single-month sales were 256,612 units, a year-over-year increase of 9.8%.

Japanese automaker Suzuki's total sales for the first half of the year were 1.8 million units, a significant year-over-year increase of 110.3%. The company saw sales growth in markets such as India, Indonesia, Pakistan, and Africa, driving its overseas H1 sales to a new record. Nissan's sales for the first half of the year were 1.506 million units, a year-over-year decrease of 6.7%, continuing the sluggish trend of recent years.

Traditional Giants Lose Speed: Loss of China Market Resonates with Middle East Geopolitical Impact

In traditional automakers where performance declined, the sluggish sales in the China market, the spillover effects of Middle East geopolitical conflicts, US tariffs, and the retreat of electric vehicle policies, together formed the "headwinds" suppressing their global performance.

An announcement issued by Toyota Motor at the end of July stated that due to weakening demand in the Chinese market and the drag from model replacement adjustments of the popular model RAV4, the company's global production and sales in the first half of the year saw a decline. From January to June this year, Toyota's sales in the Chinese market plummeted by 17.1%, offsetting demand growth in the North American and Japanese markets. In the announcement, the Toyota Group stated: "North American and Japanese market demand is stable, demand for hybrid models and other models in the North American market remains strong, but was offset by the decline in sales in the Chinese market."

Image Source: Toyota Motor

Geopolitical conflict combined with fierce competition in the Chinese market has begun to impact the profit records set by Toyota in the previous fiscal year. In June this year, sales of Toyota and Lexus brands in the Middle East region decreased by 24% year-over-year, while sales in the Chinese market decreased by 27% year-over-year. At the performance conference in May this year, Toyota stated that the automaker exports approximately 500,000 to 600,000 vehicles to the Middle East annually, and the company estimates that nearly half of the export volume could be impacted by the situation in the Middle East.

However, Toyota also adjusted the combined sales forecast for automobiles upwards by 100,000 units from the previous forecast, to 9.7 million units, a figure higher than the previous fiscal year's total sales of 9.595 million units. Toyota stated that the upward adjustment originated from strong demand in North American and European markets, while alternative logistics channels to the Middle East were completed, driving a recovery in local sales.

Volkswagen Group's performance pressure in the first half of the year was also highly concentrated in the Asia-Pacific market, where the decline in the Chinese market was particularly obvious. Volkswagen delivered 24% less in the Asia-Pacific market in the first half of the year, and deliveries in the Chinese market decreased by 25.9% year-over-year. From the perspective of sub-sectors, the downward trend of pure electric models is particularly significant: from January to June this year, Volkswagen Group's deliveries of pure electric models in China plummeted by 47.9%. Volkswagen also had a difficult situation in the North American market in the first half of the year, with pure electric business performance particularly pronounced. In the first half of the year, the group's sales of pure electric models in North America fell sharply by 68.8%, plummeting from 31,300 units in the same period last year to only 9,800 units in the first half of the year.

General Motors' global deliveries for the first half of the year decreased by 8.9%, but supported by stable prices and strong demand for pickups and SUVs, global sales revenue still climbed slightly, demonstrating the profit moat of the North American market. However, General Motors' performance in the Chinese market was also not optimistic, as its joint venture brands face all-round siege from Chinese local brands.

Chinese Brands: From Domestic Fierce Competition to Global Offense

Represented by automakers such as BYD, Geely, and Chery, Chinese automakers ranked high on the global sales list in the first half of the year, showing an unprecedented scale presence for Chinese brands. These three automakers supported overall sales with explosive growth in overseas markets. The core engine of these brands' growth has shifted from domestic to overseas, and the globalization of Chinese automakers is changing from slogans to reality.  

Image Source: BYD

Although BYD's total sales declined in the first half of the year, its structural highlight lies in the continuous breakthrough in overseas markets — cumulative overseas sales of passenger cars and pickups reached 789,000 units, a year-over-year increase of 68%, and the proportion of overseas sales to total sales has exceeded 43%. This means BYD has transformed from a "Chinese new energy giant" into a true "global new energy automaker".

BYD's export destinations in the first half of the year showed a layout characteristic of "Latin America leading, Europe breaking out at multiple points, Oceania, Southeast Asia, and Middle East differentiated expansion". Brazil continues to firmly occupy the position of this automaker's largest overseas market, and the top five countries in Europe also rank in the top ten of BYD's export destinations.

Geely's total sales for the first half of the year were approximately 1.423 million units, with outstanding overseas export performance, cumulative exports of 474,228 units, a year-over-year increase of 158%, a figure that has already exceeded the total export volume for the full year of 2025. June single-month exports were 102,874 units, a year-over-year increase of 157%, a month-on-month increase of 21%, achieving year-over-year and month-on-month double growth for six consecutive months, marking that Geely's export business has entered the stage of scale release. Geely's new energy product export sales in the first half of the year were 277,189 units, a surge of 585% year-over-year, with new energy proportion reaching 59%.

As a leader of Chinese brands going global, Chery Automobile accumulated 943,817 exports in the first half of the year, a year-over-year increase of 71.5%, with export proportion approaching 70%, making it a Chinese brand with high degree of internationalization. In July, Chery's exports of automobiles were 202,533 units, a year-over-year increase of 70.1%, breaking the record for Chinese car single-month exports for five consecutive months, becoming the first Chinese automaker to break through 200,000 exports in a single month.

Summary:

In the second half of the year, the global automotive industry will still move forward heavily burdened: weak demand, continuous heating of trade protection, cost increases brought by Middle East turmoil, and logistics and supply chain disruptions, transnational automakers will continue to promote cost reduction, production capacity contraction, and adjustment of electrification pace. These factors will also lead to the global car market still being full of high uncertainty. But a clear trend has been established: with the rise of Chinese automakers, the global automotive industry is accelerating from "Triopoly of Japan, Germany, and America" to "Multipolar Competition".

Pasar automotif global pada semester pertama 2026, dalam keadaan konflik geopolitik yang berterusan, gangguan rantaian bekalan yang kerap dan transisi elektrifikasi yang memasuki peringkat mendalam, telah memberikan keputusan. Berdasarkan data yang telah diumumkan oleh syarikat automotif arus perdana antarabangsa, corak jualan menunjukkan pembezaan ketara: pengilang tradisional Jepun, Jerman dan Amerika biasanya menghadapi tekanan dan penurunan, manakala sebahagian pengilang bebas China dan syarikat automotif yang fokus pada pasaran baru mencapai pertumbuhan songsang. Pembalikan struktur ini mencerminkan penyusunan semula yang mendalam dalam peta industri automotif global.

Toyota Kekal Juara Jualan, Beberapa Jenama China Masuk Teratas

Berdasarkan data jualan global semester pertama 2026 yang diumumkan rasmi oleh pelbagai syarikat automotif, juara jualan semester pertama kekal pada Toyota Motor, dengan jualan globalnya kira-kira 5.39 juta unit, turun 2.8% berbanding tahun lalu. Ini adalah kali pertama Toyota mengalami penurunan jualan global semester pertama secara tahun-ke-tahun dalam tempoh dua tahun. Kumpulan Volkswagen menempati kedudukan kedua global dengan jualan kira-kira 4.126 juta unit, penurunan tahun-ke-tahun meluas kepada 6.3%, jurang dengan Toyota ialah 1.26 juta unit. Kumpulan Hyundai (Hyundai dan Kia dikira bersama) mempunyai jumlah jualan semester pertama kira-kira 3.579 juta unit, prestasi keseluruhan relatif stabil, mengekalkan kedudukan ketiga global.

(Nota: Sebilangan pengilang automotif belum mengumumkan data jualan semester pertama)

Kumpulan Stellantis pada semester pertama menduduki tempat keempat dengan pencapaian 2.958 juta unit, merupakan satu-satunya entiti dalam pengilang tradisional yang mencapai pertumbuhan positif berangka dua, kenaikan tahun-ke-tahun adalah 11%, menunjukkan ketahanan dan fleksibiliti yang luar biasa. Jualan global Kumpulan Stellantis pada suku pertama tahun ini ialah kira-kira 1.36 juta unit, meningkat 12% tahun-ke-tahun; suku kedua ialah 1.597 juta unit, meningkat 10% tahun-ke-tahun, digerakkan terutamanya oleh pasaran Amerika Utara dan Eropah.

Penghantaran General Motors pada semester pertama ialah kira-kira 2.721 juta unit, turun 8.9% tahun-ke-tahun, namun manakala mendapat manfaat daripada keupayaan premium tinggi pikap dan SUV di Amerika Utara, pendapatan penjualannya sebaliknya meningkat sedikit songsang kepada AS$91.7 bilion, menunjukkan ciri "jumlah menurun, keuntungan stabil" yang jarang berlaku.

Perlu diperhatikan, jenama China menduduki tiga tempat dalam senarai 10 teratas. BYD mencapai jualan kumulatif 1.809 juta unit pada semester pertama, turun 15.7% tahun-ke-tahun. Jumlah jualan keseluruhan Geely pada semester pertama ialah kira-kira 1.423 juta unit, merangkumi jenama Geely, Lynk & Co, Zeekr, meningkat 1% tahun-ke-tahun, kadar penetrasi produk tenaga baharu telah mencapai 56%. Pada masa yang sama, jumlah jualan keseluruhan Kumpulan Chery tahun ini mencapai 1.358 juta unit, meningkat 7.7% tahun-ke-tahun, mencatat rekod tertinggi. Di antaranya, jualan tunggal bulan Jun 256,612 unit, meningkat 9.8% tahun-ke-tahun.

Pengilang automotif Jepun Suzuki dengan jumlah jualan semester pertama ialah 1.8 juta unit, meningkat 110.3% secara besar-besaran tahun-ke-tahun, syarikat ini mencapai pertumbuhan jualan di pasaran seperti India, Indonesia, Pakistan, Afrika, mendorong jualan luar negara semester pertamanya mencapai rekod baru. Jualan Nissan pada semester pertama ialah 1.506 juta unit, turun 6.7% tahun-ke-tahun, melanjutan keadaan lesi terkini beberapa tahun kebelakangan ini.

Pengilang Tradisional Melambat: Kehilangan Pasaran China Dan Goncangan Geopolitik Timur Tengah Bergema

Dalam kalangan syarikat automotif tradisional yang prestasi kewangan menunjukkan penurunan, keadaan pasaran China yang lesu, kesan luar konflik geopolitik Timur Tengah, tarif Amerika dan faktor-faktor lain seperti pelonggaran dasar kenderaan tenaga baharu, secara bersama-sama membentuk "angin kepala" yang menekan prestasi global mereka.

Dalam pengumuman yang diterbitkan oleh Toyota pada akhir Julai, ia menyatakan bahawa terjejas oleh permintaan pasaran China yang lemah dan pergantungan pada pelarasan model popular RAV4 generasi baru, produksi global dan jualan syarikat pada semester pertama mengalami penurunan. Dari Januari hingga Jun tahun ini, jualan Toyota di pasaran China turun 17.1%, membatalkan pertumbuhan permintaan di pasaran Amerika Utara dan Jepun. Kumpulan Toyota menyatakan dalam pengumuman: "Permintaan pasaran Amerika Utara dan Jepun stabil, permintaan model hibrid dan model lain di pasaran Amerika Utara kekal kuat, tetapi dibatalkan oleh penurunan jualan di pasaran China."

Sumber gambar: Toyota

Konflik geopolitik ditambah dengan persaingan sengit di pasaran China, telah mula menggoncang rekod keuntungan yang diwujudkan oleh Toyota pada tahun kewangan sebelumnya. Pada Jun tahun ini, jualan Toyota dan jenama Lexus di kawasan Timur Tengah turun 24% tahun-ke-tahun, manakala di pasaran China turun 27% tahun-ke-tahun. Dalam sidang akhbar prestasi Mei tahun ini, Toyota menyatakan bahawa syarikat automotif ini mengimport kira-kira 500,000 hingga 600,000 kenderaan ke Timur Tengah setiap tahun, syarikat memperkirakan hampir separuh daripada jumlah eksport ini mungkin akan terjejas oleh situasi Timur Tengah.

Walaupun begitu, Toyota juga akan menaikkan jangkaan jualan kenderaan dalam skala penggabungan daripada ramalan sebelumnya sebanyak 100,000 unit, sehingga kepada 9.7 juta unit, nilai ini lebih tinggi daripada jumlah jualan 9.595 juta unit tahun kewangan sebelumnya. Toyota menyatakan, kenaikan kali ini berpunca daripada permintaan pasaran Amerika Utara dan Eropah yang kuat, serentak dengan laluan logistik alternatif menuju kawasan Timur Tengah telah siap dibina, mendorong jualan tempatan kembali hangat.

Tekanan prestasi Volkswagen pada semester pertama juga sangat tertumpu pada pasaran Asia-Pasifik, khususnya penurunan ketara di pasaran China yang sangat jelas. Pada semester pertama, penghantaran Volkswagen di wilayah Asia-Pasifik turun mendadak 24%, penghantaran di pasaran China turun 25.9% tahun-ke-tahun. Dari segi sektor perincian, trend penurunan model sepenuhnya elektrik sangat ketara: Januari- Jun tahun ini, penghantaran model sepenuhnya elektrik Volkswagen di China jatuh mendadak 47.9%. Volkswagen juga berada dalam keadaan sukar di pasaran Amerika Utara pada semester pertama, prestasi perniagaan sepenuhnya elektrik sangat menonjol. Pada semester pertama, penjualan model sepenuhnya elektrik kumpulan ini di Amerika Utara turun mendadak 68.8%, jatuh dari 31,300 unit pada tempoh yang sama tahun lalu kepada hanya 9,800 unit pada semester pertama.

Penurunan penghantaran global General Motors pada semester pertama ialah 8.9%, namun manakala mendapat manfaat daripada harga yang stabil dan permintaan pikap dan SUV yang kuat, pendapatan penjualan global masih sedikit meningkat, menunjukkan parit keuntungan pasaran Amerika Utara. Namun, prestasi General Motors di pasaran China juga tidak boleh diabaikan, jenama gabungan di negara ini sedang menghadapi pengepungan menyeluruh daripada jenama tempatan China.

Jenama China: Dari Perkelahian Di Dalam Negara ke Serangan Global

Ketua syarikat automotif China yang diwakili oleh BYD, Geely, Chery, pada semester pertama telah masuk ke teratas senarai jualan global, menunjukkan kehadiran skala yang belum pernah berlaku bagi jenama China. Ketiga-tiga syarikat automotif ini bersandar pada pertumbuhan meletup di pasaran luar negara untuk menyangga jualan keseluruhan. Enjin utama pertumbuhan jenama ini telah bertukar dari domestik ke luar negara, globalisasi syarikat automotif China telah berubah daripada slogan menjadi realiti. 

Sumber gambar: BYD

Walaupun jumlah jualan BYD pada semester pertama mengalami penurunan, titik highlight berstrukturalnya terletak pada penerobosan berterusan di pasaran luar negara - kenderaan penumpang dan pikap yang dijual di luar negara kumulatif 789,000 unit, meningkat 68% tahun-ke-tahun, peratusan jualan luar negara melebihi 43% daripada jumlah jualan. Ini bermakna BYD telah bertukar daripada "raksasa tenaga baharu China" menjadi "syarikat automotif tenaga baharu global yang sebenar".

Pada semester pertama, tujuan eksport BYD menunjukkan ciri susunan "Amerika Latin memimpin, Eropah menerobos di beberapa titik, Australia dan Tenggara Asia serta Timur Tengah dikembangkan secara berbeza". Brazil masih kukuh memegang kedudukan pasaran luar negara utama syarikat automotif ini, lima negara Eropah juga masuk ke dalam sepuluh tujuan eksport BYD.

Total jualan Geely pada semester pertama ialah kira-kira 1.423 juta unit, prestasi eksport luar negara menonjol, eksport kumulatif 474,228 unit, meningkat 158%, angka ini telah melebihi jumlah jumlah eksport keseluruhan tahun 2025. Eksport tunggal bulan Jun 102,874 unit, meningkat 157% tahun-ke-tahun, meningkat 21% bulan-ke-bulan, enam bulan berturutan mencapai pertumbuhan tahun-ke-tahun dan bulan-ke-bulan, menandakan perniagaan eksport Geely memasuki peringkat pelepasan skala. Eksport penjualan produk tenaga baharu Geely pada semester pertama ialah 277,189 unit, melonjak 585% tahun-ke-tahun, peratusan tenaga baharu mencapai 59%.

Sebagai barisan hadapan keluar jenama China, Chery Automotive kumulatif eksport pada semester pertama ialah 943,817 unit, meningkat 71.5%, peratusan eksport hampir 70%, adalah jenama China yang mempunyai tahap internasionasi yang tinggi. Pada Julai, eksport kereta Chery 202,533 unit, meningkat 70.1% tahun-ke-tahun, lima bulan berturutan memecahkan rekod eksport tunggal bulan kereta China, menjadi syarikat automotif China pertama yang memecahkan 200,000 unit eksport tunggal bulan.

Kesimpulan:

On semester kedua, industri automotif global masih akan berjalan dengan beban berat: permintaan yang lemah, pelindungan dagang terus meningkat, kenaikan kos yang dibawa oleh ketidakstabilan keadaan Timur Tengah dan gangguan logistik, rantaian bekalan, syarikat automotif transnasional akan terus memajukan penurunan kos, pengecutan kapasiti dan penyesuaian irama elektrifikasi, faktor-faktor ini akan menyebabkan pasaran automotif global masih penuh dengan ketidakpastian yang tinggi. Tetapi satu trend yang jelas telah ditetapkan: dengan kebangkitan syarikat automotif China, industri automotif global sedang mempercepat dari "tiga kuasa kuat Jepun, Jerman, Amerika" menuju ke "persaingan multipolar".