Tesla (NASDAQ: TSLA) sold 657,102 units at retail in China in 2024, ranking third in the country's new energy vehicle (NEV) market with a 6.0 percent share, according to rankings released today by the China Passenger Car Association (CPCA).
In China, NEVs include plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel cell vehicles.
Tesla, which produces only BEVs, is among the only two brands on the list that produce only pure electric vehicles. GAC Aion, the other at No. 9, has a 3.4 percent share.
BYD (HKG: 1211, OTCMKTS: BYDDY) had 3,718,281 retail sales of NEVs in 2024, ranking first with a 34.1 percent share.
BYD makes BEVs and PHEVs, with PHEVs contributing about 60 percent of its wholesale sales in 2024, according to data compiled by CnEVPost.
Geely had NEV retail sales of 862,933 units in 2024 and ranks second with a 7.9 percent share.
SAIC-GM-Wuling had NEV retail sales of 647,047 units in 2024 and is fourth with a 5.9 percent share.
Li Auto, with 500,508 retail sales of NEVs in 2024, comes in at No. 6 with a 4.6 percent share, the only local startup carmaker to make the list.
After taking gasoline vehicles into account, Tesla comes in at No. 10 in the 2024 retail sales ranking with a 2.9 percent share.
BYD is No. 1 with a 16.2 percent share. It ceased production and sales of cars powered entirely by internal combustion engines in March 2022, switching to a focus on producing PHEVs and BEVs.
Geely had retail sails of 1,773,251 vehicles in 2024, placing it second with a 7.7 percent share.
FAW-Volkswagen is third with 1,608,578 retail sales and a 7.0 percent share.
For December, Tesla ranks fourth in the Chinese NEV market with 82,927 retail sales and a 6.4 percent share.
In the market that includes internal combustion engine vehicles, Tesla ranks 10th in December with a 3.1 percent share.
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