BYD maintained its position as China’s top new energy vehicle (NEV) manufacturer in March, while Tesla advanced to third place, according to data released by the China Passenger Car Association (CPCA).
BYD recorded retail sales of 290,209 NEVs during the month, an 11.5% increase from 260,300 units in March 2023. The company held a 29.3% share of the NEV market, slightly up from 29.2% in February but lower than the 36.6% it held a year earlier.
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Tesla delivered 74,127 NEVs in China in March, up 18.8% from 62,398 units a year ago. The U.S.-based automaker captured a 7.5% share of the market, improving from 3.8% in February, although below the 8.8% recorded in March 2023. The result lifted Tesla four places to No. 3 in the monthly NEV rankings.
Geely Auto ranked second with 110,894 NEV sales in March, marking a 165.3% jump from 41,802 units in the same month last year and capturing an 11.2% market share.
See also: Tesla China Sells 74,127 Vehicles in March, Up 18.8% Year-on-Year and 176.8% from February
The CPCA defines NEVs as including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles. Both BYD and Geely offer BEVs and PHEVs, while Tesla focuses exclusively on BEVs.
In the broader January–March period, BYD retained its lead with 696,162 units sold and a 28.8% market share. Geely followed with 321,779 units and a 13.3% share, while SAIC-GM-Wuling placed third with 156,871 units and 6.5%. Tesla was fifth in the quarterly rankings, delivering 134,607 vehicles and securing a 5.6% share.
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Other notable performers included Li Auto, which ranked seventh in March with 36,674 units and a 3.7% share. Xpeng came in tenth with 30,102 units and a 3.0% share.
In the overall passenger car market, which includes internal combustion engine vehicles, BYD remained in first place with a 15.0% share. Geely followed with 195,130 units sold and a 10.1% share, while FAW-Volkswagen ranked third with 129,571 units and a 6.7% share.