BYD (HKG: 1211, OTCMKTS: BYDDY) continues to dominate the Chinese new energy-vehicle (NEV) market, maintaining its position as the largest NEV maker in April. On the other hand, Tesla (NASDAQ: TSLA) experienced a slip in rankings, dropping from No. 3 in March to No. 8 in April due to a decrease in local deliveries.
In April, BYD recorded retail sales of 268,778 NEVs, marking a 5.8 percent increase from the previous year. The company held onto the top spot in the market with a 29.7 percent share. Meanwhile, Tesla’s retail sales in China decreased to 28,731 units in April, down 8.6 percent from the same period last year, causing the company to slide to No. 8 with a 3.2 percent market share.
Geely secured the second position in April with a 13.1 percent market share, driven by retail sales of 118,813 NEVs, representing a significant 141.7 percent growth compared to the previous year. Li Auto (NASDAQ: LI) and Xpeng (NYSE: XPEV) followed with a 3.8 percent and 3.5 percent share, respectively.
In the overall NEV market for the January-April period, BYD held the top spot with retail sales of 964,940 units and a 29.0 percent share. Geely ranked second with 440,592 units sold and a 13.3 percent share, while Tesla came in fifth with 163,338 units sold and a 4.9 percent share.
Beyond NEVs, BYD also led in the overall passenger car market, capturing a 15.3 percent share in retail sales. Geely and FAW-Volkswagen followed closely behind with 12.0 percent and 6.3 percent shares, respectively.
The Chinese NEV market continues to witness dynamic shifts in rankings and market shares as companies strive to meet the growing demand for electric vehicles. With BYD maintaining its stronghold and Tesla facing challenges in the local market, the competition is fierce as manufacturers race to capture market share and drive innovation in the EV sector.
