In 2024, Tesla achieved significant success in the Chinese new energy vehicle (NEV) market, with retail sales of 657,102 units, giving the company a 6.0 percent share. This placed Tesla in third position, behind BYD, which topped the rankings with 3,718,281 retail sales and a 34.1 percent market share.
Tesla’s focus on producing battery electric vehicles (BEVs) sets it apart from many other brands in the market. GAC Aion, another BEV-only producer, also made the list, coming in at ninth place with a 3.4 percent share. BYD, on the other hand, produces both BEVs and plug-in hybrid electric vehicles (PHEVs), with the latter contributing significantly to its overall sales.
Geely and SAIC-GM-Wuling claimed the second and fourth positions in the NEV market rankings, with 7.9 percent and 5.9 percent shares, respectively. Li Auto, a local startup carmaker, made an impressive debut on the list, securing the sixth position with 500,508 retail sales and a 4.6 percent share.
When considering sales of gasoline vehicles alongside NEVs, Tesla still managed to secure a spot in the top ten, coming in at tenth place with a 2.9 percent share. BYD continued to dominate the market, with a 16.2 percent share, followed by Geely and FAW-Volkswagen in second and third place, respectively.
For the month of December, Tesla held onto its fourth position in the NEV market, with 82,927 retail sales and a 6.4 percent share. In the overall automotive market, including internal combustion engine vehicles, Tesla maintained its tenth position with a 3.1 percent share.
Overall, Tesla’s performance in the Chinese NEV market in 2024 demonstrates the company’s growing presence and competitiveness in the electric vehicle sector. With a strong focus on BEVs and a commitment to innovation, Tesla continues to make strides in the global automotive industry.
