1 in every 2.8 electrified cars sold in China is a BYD

Preliminary wholesale data for last month released by the China Passenger Car Association (CPCA) suggests that the sales of new energy vehicles in China during October amounted to 1.4 million. New energy vehicles (NEV) is the umbrella term for a variety of vehicle types, but in practice, it means EVs and PHEVs. What the data also shows is how much BYD is dominating the market.

The data showed a 58% year-on-year increase in sales and a 14% month-on-month increase. However, it should be emphasized that the sales figures are wholesale rather than retail.

Unsurprisingly, BYD held first place, but its sales were nearly five times that of second-placed Geely. According to the data, BYD accounted for 35.7% of the total sales, which amounts to 1 in every 2.8 NEVs sold in China. The dominance is so great that the CPCA had to modify the chart so as to make it readable by not showing BYD’s sales to scale.

Notably, Tesla fell to fifth place behind SAIC-GM-Wuling in third, and Changan in fourth.

Xiaomi is estimated to have managed around 20,000, which puts it firmly on a level similar to Xpeng and Nio.

The chart also shows the desperate situation of many of the JVs and some of the longer-standing Chinese players, such as SAIC and BAIC.

Sources: CPCA, Fast Technology