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China NEV market share in October: BYD leads with 22.4%, Tesla drops out of top 10

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China NEV market share in October: BYD leads with 22.4%, Tesla drops out of top 10

BYD (HKEX: 1211) continued to lead China's new energy vehicle (NEV) market in October with a 22.4% share, while Tesla (NASDAQ: TSLA) dropped out of the top 10 after ranking fourth in September.

BYD's retail sales of passenger NEVs in China totaled 250,301 units in October, down 15.4% year-on-year but up 1.4% month-on-month, according to rankings released by the China Passenger Car Association (CPCA) on Tuesday.

The company's NEV market share fell from 22.8% in September, narrowing its lead over second-placed Geely Auto (HKEX: 0175), though it remained well ahead.

Geely ranked second with 131,708 units, down 19.8% year-on-year but up 10.0% month-on-month. Its market share rose to 11.8% from 11.0% in September.

Leapmotor (HKEX: 9863) held third place with 83,573 units, up 31.1% year-on-year and 6.9% month-on-month. Its share increased to 7.5% from 7.2% in September.

Changan Automobile (SZSE: 000625) climbed to fourth with 68,925 units, down 17.4% year-on-year but up 11.7% month-on-month. Its share rose to 6.2% from 5.7%.

SAIC-GM-Wuling rose to fifth with 67,696 units, down 33.8% year-on-year but up 23.5% month-on-month. Its share increased to 6.1% from 5.1% in September.

Xiaomi's (HKEX: 1810) automotive unit, Xiaomi Auto, climbed to sixth from ninth with retail sales of 50,123 units, up 3.0% year-on-year and 25.3% month-on-month. Its share rose to 4.5% from 3.7%.

Xiaomi posted the fastest month-on-month growth among the top 10 and was among just 3 automakers on the list to record year-on-year growth, alongside Leapmotor and SAIC Passenger Vehicle.

Data released by the CPCA yesterday showed Xiaomi's wholesale sales totaled 50,168 vehicles in October.


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