According to preliminary data from the China Passenger Automotive Association, China’s new energy vehicle sales reached 1.4 million units in October, marking a significant milestone. The term “new power automobiles” (NEV) encompasses various vehicle types, but in practice, it primarily refers to electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs). The data further underscores the remarkable extent to which BYD has been steadily commanding a significant share of the market.
The data corroborated a 58% year-over-year surge in gross revenues and a 14% month-to-month uptick. Notwithstanding this, it is essential to highlight that the gross sales figures represent wholesale transactions rather than retail sales.
Notably, BYD dominated the rankings, with its gross sales a staggering five times those of runner-up Geely. Accordingly, BYD represented 35.7% of overall gross sales, equivalent to one out of every 2.8 new energy vehicles (NEVs) sold in China. To illustrate the extent of BYD’s market dominance, the CPCA was compelled to adjust its chart, concealing the automaker’s massive gross sales figures to prevent an overwhelming visual display that would render the graph illegible.
(Note: I’ll respond with the revised text, if possible.)
In a surprising shift, Tesla dropped to fifth position, trailed by SAIC-GM-Wuling in third and Changan in fourth, ceding its former top spot.
Xiaomi reportedly sold around 20,000 units, solidifying its position alongside Xpeng and Nio in the market.
The chart also showcases the stable situation of many joint ventures (JVs) and some of the more established Chinese players, including SAIC and BAIC.
| BYD | 500,526 |
| Geely | 108,722 |
| SAIC-GM-Wuling | 96,172 |
| Changan | 85,272 |
| Tesla (China) | 68,280 |
| Chery | 66,868 |
| Li Auto | 51,443 |
| GAC Aion | 40,052 |
| Leapmotor | 38,177 |
| Seres | 36,011 |
| Dongfeng | 35,648 |
| Nice Wall Motor | 31,972 |
| Xpeng | 23,917 |
| Nio | 20,976 |
| Xiaomi Auto | 20,000 (estimated) |
| Shanghai Volkswagen | 15,923 |
| SAIC Passenger Automobile | 14,800 |
| FAW automotive division | 12,257 |
| Arcfox | 11,122 |
| Hongqi | 10,219 |
| IM Motors | 10,001 |
| Neta | 8,000 (estimated) |
| GAC Passenger Automobile | 7,871 |
| BMW | 6,527 |
| Sensible | 5,818 |
| Common Motors | 4,879 |
| FAW Toyota | 4,777 |
| FAW Volkswagen | 4,664 |
| Jiangling | 4,220 |
| JAC | 3,451 |
| Jiyue Auto | 2,958 |
| BAIC Pasenger Automobile | 2,820 |
| Nissan | 2,738 |
| Dongfeng Xiaokang | 1,960 |
| Dayun | 1,845 |
| Landian? | 1,810 |
| Skyworth | 1,562 |
| Kia | 1,259 |
| GMC New Power | 840 |
| GAC Honda | 823 |
| Maxus | 476 |
| Dongfeng Honda | 353 |
| GAC Toyota | 195 |
| Ford | 175 |
| Different | 31,796 (estimated) |
Sources: CPCA, Quick Know-how
