Passenger new energy vehicle (NEV) sales grew 28.3% year-on-year but fell 5.7% month-on-month in China in April 2024, CPCA’s data revealed. As expected, Chinese electric vehicle giant BYD dominated the rankings. Meanwhile, all-electric vehicle maker Tesla was the fifth top-selling brand last month.
Passenger NEV sales – Apr 2024
China’s new passenger NEV sales reached a total of 674,000 units in April 2024, up 28.3% YoY but down 5.7% MoM.
For context, NEVs in the Chinese market include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel-cell vehicles.
Since BYD produces both PHEVs and BEVs, its lead against Tesla is unsurprising in the NEV market.
Top-selling brands in terms of market share – Apr 2024
BYD continues to lead China’s NEV market in April 2024, while Tesla’s ranking drops.
BYD’s passenger NEV retail sales reached 254,131 units in April (up 31.1% YoY), enabling it to own 37.5% of the market.
According to BYD’s monthly report, its overall NEV sales grew 48.96% YoY and 3.57% MoM to 313,245 units. Notably, this wholesale sales figure includes both passenger cars and commercial vehicles.
Meanwhile, American electric vehicle giant Tesla’s retail NEV sales dropped 21.4% YoY to 31,421 units. It only gained a 4.6% market share, placing it fifth in the rankings.
In hindsight, Tesla was second in the NEV retail sales rankings in March 2024, with an 8.8% market share behind BYD’s 36.6%.
Tesla’s overall China-made EV sales, including exports, reached 62,167 units. These vehicles include the Tesla Model 3 electric sedan and Tesla Model Y electric crossover produced in Gigafactory Shanghai.
Presented below are the top-selling NEV makers in the Chinese market in April 2024 (retail):
| Automaker | Market Share | |
| 1 | BYD | 37.5% |
| 2 | Geely | 7.3% |
| 3 | Changan | 6.0% |
| 4 | SAIC-GM-Wuling | 4.7% |
| 5 | Tesla China | 4.6% |
| 6 | GAC Aion | 3.9% |
| 7 | Li Auto | 3.8% |
| 8 | Seres | 3.7% |
| 9 | Chery | 3.3% |
| 10 | Great Wall Motor | 3.0% |
YTD rankings
BYD remained at the top of the rankings from January to April 2024, with an NEV retail sales record of 840,137 units. It indicates a 19.6 YoY growth and represents 34.3% of the market.
Tesla moved to the fourth spot with NEV retail sales of 163,841 units, enabling it to account for 6.7% of the market. However, the sales figure was down 7.6% YoY.
Here are the rankings for the January to April 2024 period:
| Automaker | Share of China NEV Market (Jan-Apr 2024 Retail) |
| BYD | 34.3% |
| Geely | 7.6% |
| Changan | 6.8% |
| Tesla China | 6.7% |
| SAIC-GM-Wuling | 5.6% |
| Seres | 4.4% |
| Li Auto | 4.3% |
| GAC Aion | 3.7% |
| Great Wall Motor | 3.0% |
| Chery | 2.4% |
As for the overall passenger car market, BYD still dominated retail rankings with a 16.6% market share in April and 13.2% in the Jan-Apr 2024 period. Given that it includes traditional fuel vehicles, the all-electric brand Tesla did not reach the top 10.
While China’s NEV retail drops to 674,000 in April 2024, penetration hits a record of 43.7%.
