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Chinese New Energy Vehicle (NEV) market shares for July: BYD leads with a 27.8% share, while Tesla trails in 8th place with a 4.1% share.

Tesla's share in China's New Energy Vehicle market decreased in July compared to June's 5.5 percent, also falling short of the 5.3 percent it held in the same month the previous year.

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China's New Energy Vehicle (NEV) market shares in July: BYD maintains the lead with a 27.8% market...
China's New Energy Vehicle (NEV) market shares in July: BYD maintains the lead with a 27.8% market share, while Tesla trails behind in 8th position with a 4.1% share.

Chinese New Energy Vehicle (NEV) market shares for July: BYD leads with a 27.8% share, while Tesla trails in 8th place with a 4.1% share.

In the world of electric vehicles, China's New Energy Vehicle (NEV) market is a hotbed of activity. The latest data reveals a strong lead by domestic brands, with BYD, Geely, and Changan taking the top spots.

BYD, the market leader, maintained its position in July with a 27.8% share, down from 31.7% in June and 35.5% in July 2024. The company sold 274,644 passenger NEVs in July, a decrease of 11.9% year-on-year and 22.0% from the previous month. Despite the dip, BYD remained the market leader with strong growth, holding the highest market share for the first seven months of the year at 29.2%.

Geely, another Chinese automaker, ranked second in both the January-July and July NEV markets. In the former, Geely sold 807,173 retail units, reflecting a significant year-on-year sales increase of 112.1%. In July alone, Geely sold 121,385 units, up 5.7% from the previous month, securing a 12.5% share of the market. This robust performance propelled Geely to a 104.5% rise in wholesales in July compared to last year.

Changan, another notable player, ranked third in both the overall January-July and July NEV markets. In the former, Changan sold 423,180 retail units, translating to a 6.6% share. In July, Changan sold 55,659 NEVs, securing a 5.6% share, a testament to the company's consistent performance.

Tesla, the American electric vehicle giant, ranked fifth in China's NEV market in January-July with 304,027 sales and a 4.7 percent share. In July, Tesla's retail sales were 40,617 units, a decrease of 12.1% year-on-year and 33.9% from the previous month. Despite the drop, Tesla has managed to maintain a stable position in the competitive Chinese market.

It's important to note that while Tesla focuses solely on battery electric vehicles (BEVs), both BYD and Geely produce both BEVs and Plug-in Hybrid Electric Vehicles (PHEVs). NEVs in China also include fuel cell vehicles.

The data clearly shows a strong lead by Chinese manufacturers in China’s NEV sector, while Tesla retains a smaller but consistent presence. The expanding and highly competitive NEV market continues to be led by domestic brands with rising export volumes. However, the July NEV retail sales fell below 1 million units for the first time since March 2021, indicating a potential slowdown in the market.

This article is based on data from various sources and provides a snapshot of the current state of the NEV market in China. For more detailed information, please refer to the original sources.

[1] [Source 1] [2] [Source 2] [3] [Source 3] [4] [Source 4] [5] [Source 5]

  1. China's dominance in the electric vehicle (EV) industry is evident, with domestic brands holding the top spots in the New Energy Vehicle (NEV) market.
  2. In July, BYD, a Chinese EV manufacturer, held the largest market share in the NEV sector at 27.8%, despite a decrease from previous months.
  3. Geely, another Chinese automaker, followed closely, securing the second spot in the January-July and July NEV markets with impressive sales numbers.
  4. Changan, another domestic player, ranked third in both the overall January-July and July NEV markets, reflecting consistent performance.
  5. Tesla, the American EV giant, maintained a stable presence in the Chinese market, albeit smaller compared to the domestic brands.
  6. It's worth noting that while Tesla focuses on battery electric vehicles (BEVs), both BYD and Geely produce both BEVs and Plug-in Hybrid Electric Vehicles (PHEVs).
  7. The July NEV retail sales fell below 1 million units for the first time since March 2021, suggesting a potential slowdown in the market.
  8. The expanding and highly competitive NEV market continues to be led by domestic brands with rising export volumes.
  9. The data from various sources suggests that the EV landscape in China is dynamic, with companies like BYD, Geely, Changan, and Tesla shaping the future of transportation, energy, lifestyle, automotive technology, and the global finance industry.

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