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.

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]

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