BYD ranks No. 1, Tesla No. 2, and Nio No. 9 by way of NEV market share in China in 2023.
BYD (OTCMKTS: BYDDF) dominated China’s new power car (NEV) market in 2023, whereas Tesla (NASDAQ: TSLA) was No. 2, in accordance with the most recent rankings from the China Passenger Automobile Affiliation (CPCA).
BYD’s retail gross sales of NEVs in 2023 had been 2,706,075 items, up 50.3 % from 1,799,947 in 2022, in accordance with the CPCA.
The NEV big is No. 1 in China’s NEV market with a 35 % share in 2023, the one one with a share of greater than 10 %.
BYD launched figures earlier this month exhibiting it offered 341,043 NEVs in December and three,024,417 for the entire of 2023. These numbers are wholesale gross sales.
Tesla’s retail gross sales in China had been 603,664 items in 2023, up 37.3 % from 439,770 items in 2022.
The US electrical car (EV) maker had a 7.8 % share of the Chinese language NEV market in 2023, rating second within the CPCA’s checklist.
In China, NEVs embody battery electrical automobiles (BEVs), plug-in hybrids (PHEVs), and gasoline cell automobiles. The CPCA solely publishes NEV rankings, not BEV rankings.
About half of BYD’s fashions are BEVs and the opposite half are PHEVs. Within the fourth quarter, BYD’s passenger BEV gross sales surpassed Tesla’s worldwide gross sales for the primary time.
GAC Aion ranks third in China’s NEV market with retail gross sales of 483,632 and a 6.3 % share in 2023. All the firm’s fashions presently on sale are BEVs.
Li Auto (NASDAQ: LI) had retail gross sales of 376,030 in 2023, rating No. 7 with a 4.9 % share, and it presently sells fashions which can be extended-range electrical automobiles (EREVs), that are primarily PEHVs.
Nio (NYSE: NIO) is ranked No. 9 in China’s NEV market with a 2.1 % share of retail gross sales of 160,038 items in 2023, and its fashions are all BEVs.
Leapmotor ranked tenth with 144,155 items offered and a 1.9 % share of the market. The corporate’s fashions embody BEVs and EREVs.
In December, BYD was No. 1 with 300,215 retail gross sales and a 31.8 % share within the NEV market, in accordance with the CPCA rankings.
Tesla was second within the December NEV gross sales rating with 75,805 retail gross sales, an 8 % share. Li Auto was fifth with 50,353 gross sales, a 5.3 % share.
Within the general passenger automobile market, which incorporates inside combustion engine automobiles, BYD had a 12.5 % share in 2023, rating first on the CPCA’s checklist.
FAW-Volkswagen is second with 8.5 % share and Geely is third with 6.5 %.
BYD beats Tesla in quarterly BEV gross sales for 1st time ever