BYD maintained its lead in China’s new energy vehicle (NEV) market in May, with Geely advancing to second place on the back of strong year-on-year growth, while Tesla’s market share fell compared to the same period in 2024, data from the China Passenger Car Association (CPCA) showed on Tuesday.
BYD recorded 293,021 NEV retail sales last month, a 9.2% rise from 268,226 units in May 2024. The company retained the top position with a 28.5% market share, down from 33.4% a year ago. The automaker’s dominance continued across both plug-in hybrid and battery electric vehicle segments.
Geely secured the second position in May with 130,398 NEV sales, marking a 132.1% surge from the 56,172 units sold a year earlier. Its market share rose to 12.7%, narrowing the gap with BYD. “Our robust sales reflect the growing demand for smart and electrified vehicles in China,” a Geely spokesperson said.
Tesla, which manufactures only battery electric vehicles, sold 38,588 units in China last month, a 30.1% drop from the 55,215 units sold in May 2024. The U.S. automaker held its eighth-place ranking with a 3.8% market share, slightly up from 3.2% in April but still below the 6.9% share recorded a year ago.
Changan Automobile ranked third with 73,993 NEV sales and a 7.2% share in May. Other notable performers included Leapmotor and Li Auto, which each secured 4.0% of the market with 41,409 and 40,856 sales respectively.
From January to May, BYD led cumulative NEV sales with 1.26 million units and a 28.9% market share. Geely followed with 570,990 units, while Changan and Tesla recorded 291,175 and 201,926 units, respectively.
In the broader passenger vehicle market, which includes internal combustion engine vehicles, BYD also ranked first in May with a 15.1% market share. Geely and Changan followed with 10.6% and 7.0% respectively.