BYD (HKG: 1211) maintained its position as China’s largest new energy-vehicle (NEV) maker in October, while Tesla (NASDAQ: TSLA) dropped out of the top 10 in retail sales for the first time in three years.
BYD’s passenger NEV retail sales in October totaled 295,871 units, down 31.4 percent year-on-year and down 14.8 percent month-on-month, according to rankings released Tuesday by the China Passenger Car Association (CPCA).
The company maintained its top position with a 23.1 percent market share in October, down from 26.7 percent in September and below the 36.1 percent share recorded in the same period last year.
Tesla’s October retail sales in China came in at 26,006 units, marking its lowest level since November 2022, according to data released by the CPCA on November 10.
The US electric vehicle (EV) maker’s share of China’s NEV market in October was 2.03 percent, the lowest since August 2022, data compiled by CnEVPost show.
This resulted in Tesla falling out of the top 10 in CPCA’s monthly NEV retail sales rankings for the first time since August 2022.
GWM (HKG: 2333), occupying the final spot in October’s NEV retail top 10, achieved a 3.2 percent share with 41,005 NEV sales.
Geely Auto (HKG: 0175) recorded NEV retail sales of 164,256 units in October, marking a 54.7 percent year-on-year increase and a 9.1 percent rise from September.
Its 12.8 percent market share in October maintained its second-place ranking in NEV retail sales, up from 11.6 percent in September.
In China, NEVs include plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel cell vehicles.
BYD and Geely produce both BEVs and PHEVs, while Tesla only makes BEVs.
SAIC-GM-Wuling ranked third in China’s NEV market in October with 99,752 NEV retail sales and a 7.8 percent share.
Xiaomi EV came in eighth in the top 10 NEV retail sales list, securing a 3.8 percent share with 48,654 units sold.
In August, Xiaomi EV first entered the list with 36,396 units sold and a 3.3 percent share.
Like Tesla, Xiaomi EV’s current models — the SU7 sedan series and YU7 SUV (sport utility vehicle) — are all BEVs.
From January to October, BYD led China’s NEV market with 2,838,110 retail sales and a 28.0 percent market share.
Geely ranked second in China’s NEV market during the same period, achieving 1,256,404 NEV retail sales and a 12.4 percent market share.
Changan ranked third in China’s NEV market from January to October with 663,179 NEV sales and a 6.5 percent market share.
Tesla ranked fifth in China’s NEV market in the January to October period with 458,710 retail sales and a 4.5 percent market share.
In the overall passenger vehicle market including traditional internal combustion engine vehicles, BYD ranked first in retail sales in October with a 13.2 percent market share.
Geely ranked second in October with 265,565 units sold and an 11.8 percent market share.
FAW-Volkswagen ranked third with 136,002 units sold and a 6.0 percent market share.
