Monthly EV Sales

For the full year of 2024, China's NEV sales amounted to 12.866 million units, contributing 40.9 percent of the total vehicle sales of 31.436 million units.

Tesla sold 657,102 retail units in China in 2024, ranking third in the Chinese NEV market with a 6.0 percent share, according to the CPCA.

Tesla China exported 76,380 Model Y units in 2024, a 54.58 percent decrease from 2023. The Model 3 exported 183,178 units, a 4.14 percent increase from 2023.

China's retail penetration of NEVs stood at 49.4 percent in December, marking the fourth consecutive month of decline and the first time since June that the penetration rate has fallen below 50 percent.

In the fourth quarter, Tesla's retail sales in China were 196,902, contributing 39.73 percent of global deliveries.

China's NEV retail penetration was 52.6 percent in December and 47.97 percent in 2024, according to preliminary CPCA data.

This represents a 10.37 percent increase over the 59,845 vehicles sold in the same month last year and an 18.38 percent increase over the 55,796 vehicles sold in December.

Sales of BYD's main budget models fell less because they have accumulated relatively more orders, analysts said.

GAC Aion sales dropped to 10,206 units in January, and its local counterpart, Leapmotor, also saw sales plunge more than 80 percent to 1,139 units.

BYD's NEV sales ended a 10-month streak of growth, as the Chinese New Year holiday took its toll on sales.