In July, Tesla’s market share in China’s new energy vehicle (NEV) market saw a decline compared to the previous month and the same period last year. The company’s market share dropped to 4.1 percent in July from 5.5 percent in June and 5.3 percent in July of the previous year. On the other hand, BYD maintained its position as the largest NEV maker in China despite a decrease in market share. The company held a 27.8 percent share of the market in July, down from 31.7 percent in June and 35.5 percent in July of the previous year.
BYD sold 274,644 passenger NEVs in July, marking an 11.9 percent decrease year-on-year and a 22.0 percent decrease from the previous month. Tesla, on the other hand, sold 40,617 units in July, representing a 12.1 percent decrease year-on-year and a 33.9 percent decrease from June. As a result, Tesla ranked eighth in China’s NEV market in July.
Geely, another prominent player in the NEV market, recorded 121,385 units in retail sales in July, marking a significant increase of 112.1 percent year-on-year and a 5.7 percent increase from June. Geely maintained its second-place ranking in NEV retail sales with a 12.3 percent share in July.
In terms of overall performance in the NEV market from January to July, BYD led the market with 1,884,686 retail sales and a 29.2 percent share. Geely followed closely behind with 807,173 retail sales and a 12.5 percent share, while Changan ranked third with 423,180 NEV sales and a 6.6 percent share. Tesla secured the fifth position in the NEV market during the same period with 304,027 sales and a 4.7 percent share.
When considering the entire passenger vehicle market, which includes traditional internal combustion engine vehicles, BYD topped the retail sales chart in July with a 14.9 percent share. Geely secured the second position with 202,447 units sold and an 11.0 percent share, while FAW-Volkswagen ranked third with 110,882 units sold and a 6.0 percent share.
Overall, BEVs saw a significant increase in sales in July, with 607,000 units sold, marking a 24.5 percent year-on-year growth. In contrast, PHEVs, including EREVs, experienced a slight decline in sales, with 380,000 units sold, representing a 4.04 percent decrease year-on-year.
The dynamics of the NEV market in China continue to evolve, with key players like BYD, Tesla, and Geely competing for market share and driving innovation in the industry.
