Tesla In The Lead: Best-Selling Electric Cars In China

October 14, 2021

Tesla took two of the top three spots for best-selling electric car models in China, industry data for the first three quarters of the year showed. That’s well ahead of start-up rivals like Xpeng and Nio, according to data released by China Passenger Car Association on Wednesday.

Here’s the association’s list of the 15 best-selling new energy vehicles in China for the first three quarters of 2021:

1. Hongguang Mini (SAIC-GM-Wuling)
2. Model 3 (Tesla)
3. Model Y (Tesla)
4. Han (BYD)
5. Qin Plus DM-i (BYD)
6. Li One (Li Auto)
7. BenBen EV (Changan)
8. Aion S (GAC Motor spin-off)
9. eQ (Chery)
10. Ora Black Cat (Great Wall Motor)
11. P7 (Xpeng)
12. Song DM (BYD)
13. Nezha V (Hozon Auto)
14. Clever (SAIC Roewe)
15. Qin Plus EV (BYD)

Elon Musk’s automaker sold more than 200,000 electric cars in China during those three quarters — 92,933 Model Ys and 111,751 Model 3s, according to the passenger car association. China accounted for about one-fifth of Tesla’s revenue last year. The U.S.-based automaker began delivering its second China-made vehicle, the Model Y, early this year. The company also launched a cheaper version of the car in July.

Tesla’s shares are up nearly 15% so far this year, while the U.S.-listed shares of Nio are down more than 25% and Xpeng’s lost nearly 7% during that time.

On a monthly basis, the data showed the best-selling electric car in China in September remained the budget Hongguang Mini — a tiny vehicle developed by General Motors’ joint venture with Wuling Motors and state-owned SAIC Motor.

Tesla’s Model Y was the second best-selling electric car in China in September, followed by the older Tesla Model 3, the passenger car association data showed.

Sales of new energy vehicles — a category that includes hybrids and battery-only cars — climbed amid Beijing’s support for the industry. However, passenger car sales overall slumped year-on-year for a fourth-straight month in September.

SOURCE: CNBC
IMAGE SOURCE: PIXABAY