BYD maintained its dominance in China's new energy vehicle market in 2025, capturing 27.2% share despite a 6.3% sales decline. Tesla ranked fifth with 4.9% share after a 4.8% drop in retail sales. Both companies faced challenges amid rising competition.
China's new energy vehicle (NEV) market saw shifts in 2025, with BYD holding the top spot based on retail sales data from the China Passenger Car Association (CPCA). BYD recorded 3,484,525 passenger NEV units sold, down 6.3% from 2024, yet securing a 27.2% market share compared to 34.1% the previous year.
Tesla experienced a similar downturn, with 625,698 retail sales in China, a 4.8% year-on-year decrease from 657,102 units in 2024. This placed the company fifth in the NEV rankings with a 4.9% share, down from third place and 6.0% in 2024. Analysts attribute part of Tesla's decline to production pauses at Giga Shanghai during a Model Y transition in the first quarter, which reduced early-year availability.
Geely Auto surged to second with 1,564,562 units, up 81.3% year-on-year, claiming 12.2% share. Changan Automobile took third with 789,141 units, a 26.8% increase, for 6.2% share. Xiaomi EV entered tenth with 411,837 units, soaring 200.9% and holding 3.2% share.
In the broader passenger vehicle market, BYD led with 14.7% share, followed by Geely at 11.0% and FAW-Volkswagen at 6.4%. December provided a brighter note for Tesla, which achieved a record 93,843 domestic sales, up 13.2% year-on-year and capturing 7.0% of the NEV market. BYD sold 339,854 units that month for 25.4% share, while Geely had 135,989 for 10.2%.
Tesla's wholesale sales totaled 851,732 units for the year, down 7.1%, with Model Y at 538,994 (-3.18%) and Model 3 at 312,738 (-13.12%). China accounted for 38.24% of Tesla's global deliveries of 1.64 million vehicles, though exports from Giga Shanghai fell 13% to 226,034 units.
