The Model Y ranked first among BEV models in China with wholesale sales of 298,384 units in January-July 2024, with the BYD Seagull coming in second with 227,2934 units.
A new ranking showed the popularity of Tesla's (NASDAQ: TSLA) Model Y in China, despite the crossover facing a growing number of challengers over the past few years.
The Model Y had wholesale sales of 298,384 units in China in the January-July 2024 period, the highest of any battery electric vehicle (BEV) model, though sales were down 17 percent from the same period last year, according to a ranking released yesterday by Cui Dongshu, secretary-general of the China Passenger Car Association.
The BYD (HKG: 1211, OTCMKTS: BYDDY) Seagull is fast catching up to the Tesla crossover's dominance in the BEV segment, but at a much lower price.
BYD Seagull had wholesale sales of 227,2934 units in China in January-July 2024, up 240 from the same period last year, and ranked second in BEV wholesale sales.
The Tesla Model Y is considered a premium model in China and is offered in three variants with starting prices of RMB 249,900 ($34,800), RMB 290,900, and RMB 354,900 respectively.
The BYD Seagull, a low-end compact SUV (sport utility vehicle), is also currently offered in China in three variants with starting prices of RMB 69,800, RMB 75,800 and RMB 85,800.
The Tesla Model 3 sedan ranked third among the top selling BEVs by wholesale from January to July with 202,356 sales.
The fourth to seventh places on the list were all BYD models -- Yuan, Song, Dolphin, and Qin -- with wholesale sales of 151,815 units, 102,471 units, 97,628 units, and 91,280 units in January-July, respectively.
The Model Y also had the highest wholesale sales in China in January-July 2023 at 360,525 units. Following the Model Y were the BYD Yuan, BYD Dolphin, and Model 3 with wholesale sales of 237,609, 194,798, and 180,299 respectively.
It's worth noting that wholesale sales include deliveries in China as well as exports to overseas markets. Tesla has a factory in Shanghai that produces the Model Y and Model 3.
Deliveries of the Model Y in China amounted to 244,116 units in January-July this year, accounting for 81.81 percent of the model's wholesale sales, according to data compiled by CnEVPost.
On a single-month basis in July, the Model Y was also the top BEV wholesale seller at 41,405 units, albeit down 6 percent from the same month a year ago, according to the rankings released by Cui.
The BYD Seagull was second in July with 36,256 units, up 29 percent year-on-year, and the Model 3 was third with 32,712 units, up 61 percent year-on-year.
The Model Y also had the highest wholesale BEV sales in China in July 2023 at 43,961 units. At that time, the BYD Dolphin and BYD Yuan ranked second and third with 31,950 and 31,456 respectively.
In terms of BEV wholesale sales by car companies, BYD ranked first in January-July with 856,153 units, Tesla China ranked second with 500,740, and Geely Auto ranked third with 217,905 units.
In July, BYD ranked first with 130,000 wholesale BEV sales, Tesla China second with 74,117 units, and Geely Auto third with 30,858 units.
($1 = RMB 7.1803)
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