The Warren Buffett–backed automaker maintained its leadership with 347,000 new energy vehicle sales and a 26.7% market share, while Tesla remained fifth.
BYD tightened its hold on China’s electric vehicle market in September, outpacing Tesla as local automakers pulled further ahead.
The Warren Buffett–backed company sold about 347,000 new energy vehicles during the month, according to the China Passenger Car Association (CPCA), keeping its spot at the top of the rankings even with a slight dip from last year’s levels, CnEVPost reported.
BYD’s sales were down 10.2% from last September but up 12% from August, giving it a 26.7% market share, well ahead of every other automaker in the country.
Tesla, meanwhile, ranked fifth with 71,525 vehicles sold, a 0.9% drop from a year earlier but a 25% rebound from July. Its 5.5% share edged higher from August but remained below levels seen last year.
Close behind BYD, Geely Auto held on to second place with 150,570 sales in September, a sharp 68% increase from a year earlier. Xiaomi EV stayed in the top 10 after selling 41,948 units, marking its second month on the list.
From January to September, BYD’s dominance has been even more pronounced. The company has sold over 2.54 million NEVs so far this year, commanding nearly 29% of the market. Geely followed with 1.09 million units, while Tesla ranked fifth with 432,704 sales, far behind the local players.
Beyond the electric segment, BYD also came out on top in China’s overall passenger vehicle market, which includes traditional combustion-engine cars, capturing a 15.5% share in September.
On Stocktwits, retail sentiment for BYD was described as ‘bullish’ amid ‘normal’ message volume, while sentiment for Tesla was ‘bearish’ amid ‘low’ activity.
BYD’s U.S.-listed stock has risen 20% so far this year, while Tesla’s stock has climbed 6% over the same period.
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