BYD China NEV Retail Sales Lead Market Despite February Decline

China’s new energy vehicle market experienced notable shifts in February as BYD continued to dominate despite a sharp year-on-year drop in retail volumes. The latest industry figures highlight how BYD China NEV retail sales still secured the top market position, maintaining a strong lead over competitors including Geely and Tesla. The results underline the rapidly evolving competitive landscape of China’s passenger NEV segment.

February NEV Retail Sales Rankings in China

According to figures released by the China Passenger Car Association (CPCA), BYD recorded passenger NEV retail sales of 88,697 units in February, representing a 56.9 percent year-on-year decline. Despite this drop, the company expanded its market share to 19.1 percent from 15.8 percent in January. Geely followed in second place with retail sales of 76,636 units, reflecting a 17.9 percent year-on-year decrease and giving the automaker a 16.5 percent market share.

Key Sales Figures for Major Automakers

The February rankings also showed Tesla reentering the top ten list after missing the ranking in January. The U.S. electric vehicle manufacturer reported retail sales of 38,206 units in China, marking a 42.7 percent year-on-year increase and a 106.7 percent rise from the previous month. Tesla captured an 8.2 percent share of the NEV market, placing it third among major manufacturers operating in the Chinese passenger NEV sector.

Performance of Other NEV Manufacturers

Several emerging electric vehicle brands also appeared in the February ranking. Li Auto placed sixth with retail sales totaling 26,421 units and a 5.7 percent share of the market. Nio ranked seventh with 20,750 units sold and a 4.5 percent share, while Xiaomi EV secured eighth place with 20,414 units and a 4.4 percent share. In China, NEVs include battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles.

Looking at the cumulative results for the first two months of the year, BYD recorded NEV retail sales of 182,873 units, representing a 55.0 percent year-on-year decline but still maintaining the top market position with a 17.2 percent share. Geely followed with 168,771 units and a 15.9 percent share. In the broader passenger car market, which includes internal combustion engine vehicles, Geely ranked first in February with 145,281 units sold, while BYD placed second and Tesla held eighth position overall.