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Automakers' shares of China's NEV exports in October: BYD leads with 28.3%, Tesla rises to 10.1%

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Automakers' shares of China's NEV exports in October: BYD leads with 28.3%, Tesla rises to 10.1%

BYD (HKEX: 1211) continued to lead China's passenger new energy vehicle (NEV) export market in October, though its share declined further, while Tesla China's share rose above 10%.

BYD exported 164,679 passenger NEVs in October, up 105.6% year-on-year but down 5.5% month-on-month, according to rankings released by the China Passenger Car Association (CPCA) on Tuesday.

BYD's share fell to 28.3% from 31.1% in September, though it remained well ahead of other automakers. Its cumulative exports in the first 10 months of the year approached 1.47 million vehicles.

Chery (HKEX: 9973) remained second with 83,843 vehicles, up 105.4% year-on-year but down 2.5% month-on-month. Its share fell to 14.4% from 15.3% in September.

Geely Auto (HKEX: 0175) remained third with 80,119 vehicles, up 488.0% year-on-year and 9.9% month-on-month. Its share rose to 13.8% from 13.0%.

The gap in monthly export volumes between Geely and Chery narrowed to 3,724 vehicles from 13,097 in September, leaving their shares just 0.6 percentage points apart.

Tesla's (NASDAQ: TSLA) China operations exported 59,012 vehicles in October, up 66.3% year-on-year and 93.3% month-on-month, ending 2 consecutive months of sequential declines.

The US EV maker remained fourth, with its share rising 4.7 percentage points to 10.1% from 5.4% in September.

SAIC Passenger Vehicle remained fifth with 42,030 vehicles, up 616.7% year-on-year and 42.2% month-on-month. Its share rose to 7.2% from 5.3%.

Changan Automobile (SZSE: 000625) remained sixth with 30,343 vehicles, up 218.9% year-on-year and 3.5% month-on-month, maintaining a 5.2% share.

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