Recent data from the China Passenger Car Association (CPCA) reveals that BYD continues to dominate China’s new energy vehicle (NEV) market, while Tesla has improved its position.
In August 2024, BYD sold 379,596 passenger NEVs at retail in China, maintaining its top position with a 37.0% market share. This represents an increase from July’s 35.5% share and a significant 57.1% year-over-year growth.
Tesla’s retail sales in China reached 63,456 vehicles in August, securing a 6.2% market share and moving up to third place in the CPCA’s monthly NEV retail sales ranking. This marks an improvement from July’s 5.3% share, despite a slight 1.9% year-over-year decrease in sales volume.
Geely held onto second place with 74,082 NEV retail sales in August, capturing a 7.2% market share, up from 6.5% in July.
For the January-August 2024 period, BYD led with a 34.6% market share, followed by Geely at 7.3% and Tesla at 6.5%. BYD’s total sales for this period reached 2,079,858 units, a 27.8% increase year-over-year.
In the overall passenger car market, including traditional fuel vehicles, BYD topped the August rankings with a 19.9% share, followed by Geely at 7.1% and FAW-Volkswagen at 6.7%.
These figures highlight the ongoing growth and competition in China’s NEV market, with domestic manufacturers like BYD maintaining strong positions alongside international players such as Tesla.
Source: CNEVNEWS
