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China NEV export share in September: BYD leads with 31.1%, Chery rises to second

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China NEV export share in September: BYD leads with 31.1%, Chery rises to second

BYD (HKEX: 1211) continued to lead China's passenger new energy vehicle (NEV) export market in September despite losing share, while Chery (HKEX: 9973) overtook Geely Auto (HKEX: 0175) to take second place.

BYD exported 174,277 passenger NEVs in September, up 151.6% year-on-year but down 5.2% month-on-month, according to rankings released by the China Passenger Car Association (CPCA) on Tuesday.

BYD's share fell to 31.1% from 35.4% in August, though it maintained a substantial lead over other automakers. Its cumulative exports exceeded 1.3 million vehicles in the first 9 months of the year.

Chery ranked second with 85,990 vehicles, up 173.9% year-on-year and 25.7% month-on-month. Its share rose to 15.3% from 13.2% in August.

Geely ranked third with 72,893 vehicles, up 398.2% year-on-year and 4.3% month-on-month. Its share was 13.0%, down from 13.5% in August.

Tesla (NASDAQ: TSLA) China exported 30,529 vehicles in September, up 58.3% year-on-year but down 15.5% month-on-month, marking its second consecutive monthly decline.

The US EV maker remained fourth, with its share falling to 5.4% from 7.0% in August, only slightly ahead of fifth-placed SAIC Passenger Vehicle.

SAIC Passenger Vehicle exported 29,552 NEVs, up 18.3% month-on-month, with a 5.3% share, moving up 1 place from August.

Changan Automobile (SZSE: 000625) ranked sixth with 29,325 vehicles, up 3.5% month-on-month, with a 5.2% share.

Leapmotor (HKEX: 9863) remained seventh with 27,454 vehicles, up 298.6% year-on-year and 50.4% month-on-month. Its share rose to 4.9% from 3.5% in August.

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