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

• BYD exported 164,679 NEVs in October, down 5.5% from September, with its share falling 2.8 percentage points.
• Tesla China's exports rose 93.3% month-on-month, keeping it in fourth place.

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.

Leapmotor (HKEX: 9863) remained seventh with 21,132 vehicles, up 221.9% year-on-year but down 23.0% month-on-month. Its share fell to 3.6% from 4.9%.

SAIC-GM-Wuling remained eighth with 16,866 vehicles, up 51.4% year-on-year and 2.0% month-on-month, giving it a 2.9% share.

Xpeng (NYSE: XPEV) rose to ninth with 13,326 vehicles, up 166.6% year-on-year and 32.5% month-on-month. Its share increased to 2.3% from 1.8% in September.

GAC Aion returned to the top 10 with 12,150 vehicles, up 538.8% year-on-year and 45.5% month-on-month, giving it a 2.1% share. Dongfeng dropped out of the monthly top 10.

In January-October, BYD exported 1,465,753 NEVs, up 95.3% year-on-year, ranking first with a 32.8% share, down from 33.5% in January-September.

Chery remained second with 611,333 vehicles, up 164.3% year-on-year, and a 13.7% share. Geely remained third with 558,923 vehicles, up 526.4%, and a 12.5% share.

Tesla China exported 420,984 vehicles during the same period, up 101.3% year-on-year, maintaining fourth place with a 9.4% share.

SAIC Passenger Vehicle ranked fifth with 246,127 vehicles, up 201.2% year-on-year, and a 5.5% share. Leapmotor remained sixth with 180,704 vehicles, up 307.6%, and a 4.0% share.

Changan, SAIC-GM-Wuling, Dongfeng and GAC Aion ranked seventh through tenth, with cumulative exports of 167,473, 126,207, 100,287 and 81,415 vehicles, respectively. Their shares were 3.7%, 2.8%, 2.2% and 1.8%.

China's passenger NEV exports totaled 582,000 vehicles in October, up 144.7% year-on-year and 3.9% month-on-month, according to the CPCA's monthly report released yesterday. Cumulative exports in the first 10 months reached 4.47 million vehicles, up 139.7% year-on-year.

In the overall passenger vehicle export market, which includes traditional internal combustion engine vehicles, Chery remained first in October with 196,704 vehicles, up 57.6% year-on-year but down 3.5% month-on-month, giving it a 21.2% share.

BYD ranked second with 164,679 vehicles and a 17.7% share. Its share gap with Chery widened to 3.5 percentage points from 3.2 percentage points in September.

Geely ranked third with 106,632 vehicles, up 156.5% year-on-year and 0.7% month-on-month, giving it an 11.5% share.

SAIC Passenger Vehicle remained fourth with 88,260 vehicles and a 9.5% share. Tesla China rose to fifth from eighth in September, with a 6.4% share.

Changan remained sixth with 56,996 vehicles and a 6.1% share. GWM (HKEX: 2333) fell to seventh with 55,327 vehicles and a 6.0% share.

SAIC-GM-Wuling ranked eighth with 37,041 vehicles and a 4.0% share. Leapmotor and Yueda Kia ranked ninth and tenth, with shares of 2.3% and 1.5%, respectively.

In overall passenger vehicle exports for January-October, Chery remained first with 1,724,187 vehicles, up 63.7% year-on-year, and a 21.7% share.

BYD ranked second with 1,465,753 vehicles and an 18.4% share, while Geely ranked third with 900,597 vehicles and an 11.3% share.

SAIC Passenger Vehicle and GWM ranked fourth and fifth, with shares of 8.9% and 5.9%, respectively. Tesla China remained sixth with a 5.3% share.

Changan, SAIC-GM-Wuling, Leapmotor and Dongfeng ranked seventh through tenth, with shares of 4.6%, 3.6%, 2.3% and 1.8%, respectively.