Major automakers saw mixed new energy vehicle (NEV) sales performance in January, causing a big shift in market share.
BYD (HKG: 1211, OTCMKTS: BYDDY) had retail sales of 200,242 NEVs in China in January, down 3.2 percent from 206,904 in the same month last year, according to data released today by the China Passenger Car Association (CPCA).
The company continued to be No. 1 in January with a 26.9 percent share, albeit down from 31.0 percent in December 2024 and down from 31.0 percent in January 2024, according to the CPCA.
Tesla (NASDAQ: TSLA) had retail sales of 33,703 vehicles in China in January, down 15.5 percent from 39,881 in the same month last year.
The US electric vehicle (EV) maker ranked 6th in China's NEV market in January with a 4.5 percent share, down from the 6.4 percent share in December and down from 6.0 percent a year earlier.
In China, NEVs include plug-in hybrid electric vehicles (PHEVs), battery electric vehicle (BEV), and fuel cell vehicles.
BYD makes BEVs and PHEVs, with PHEVs contributing about 60 percent of its wholesale sales in 2024, according to data compiled by CnEVPost. Tesla makes only BEVs.
Geely had retail sales of 117,576 NEVs in January, up 82.9 percent from 64,286 in the same month last year.
The company ranked second in China's NEV market in January with a 15.8 percent share, up from 8.4 percent in December and up from 9.6 percent a year earlier.
Changan Automobile's retail sales of NEVs in January were 51,075 units, down 8.8 percent from 55,998 a year earlier.
Changan ranked third in January with a 6.9 percent NEV share, up from 5.5 percent in December but down from 7.7 percent a year ago.
Li Auto (NASDAQ: LI) was seventh in China's NEV market in January with 29,927 sales and a 4.0 percent share, behind Tesla.
Xpeng (NYSE: XPEV) was 8th with 28,340 units sold at retail and a 3.8 percent share, while Leapmotor (HKG: 9863) was 10th with 23,004 units sold and a 3.1 percent share.
In the overall passenger car market, which includes traditional internal combustion engine vehicles, Geely was No. 1 in January with 239,944 units sold at retail and a 13.4 percent share, rarely outpacing BYD.
BYD was second in the overall market with an 11.2 percent share, while FAW-Volkswagen was third with a 7.6 percent share.
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