IEA: There are a million unsold Chinese electric cars worldwide

According to data released by the International Energy Agency on Thursday, July 30, more than a million electric vehicles exported from China over the past eighteen months have yet to reach their final customers.

Part of the gap is explained by longer sea freight times, but it still points to an abnormal accumulation of inventory at ports and warehouses around the world.

The abnormal inventory accumulated after Chinese manufacturers faced declining domestic sales and diverted the excess for export.

In the first half of 2026, sales of all types of cars in China plummeted by more than 20% compared to the same period in 2025. In total, approximately 2.5 million fewer cars were sold in China.

Meanwhile, the decline in car production in China was only 6%, and the surplus was diverted for export. Overall car exports from China increased by 65%, while electric vehicle exports soared by 120%.