Top 10 Automakers by July Sales Reveal Market Shifts & Surging Growth

China's new energy car market surged to unprecedented heights in July, setting new records for retail sales, exports, wholesale figures, and production. Significantly, the domestic retail penetration rate for these battery car models climbed impressively to 53.7%. Concurrently, as the fierce price war shows signs of cooling due to industry-wide efforts against excessive competition, the electric vehicle landscape continues its dynamic reshaping.

Market Overview: Record Highs & Shifting Dynamics

According to the China Passenger Car Association (CPCA), wholesale sales of new energy passenger automobiles reached approximately 986,000 units in July. This represents a solid 12.0% year-over-year (YoY) increase, though a month-over-month (MoM) dip of 11.3% was noted. The cumulative sales volume for the first seven months of 2023 hit an impressive 6.455 million units, soaring 29.5% YoY. Industry analysis suggests the overall car market this year is trending towards a pattern of "low start, high middle, and stable end."

Top 10 Rankings: Intense Competition & New Entrants

The July rankings for the top 10 electric vehicle manufacturers saw significant reshuffling compared to June. Notably, XPeng Motors emerged as a dark horse, successfully breaking into the top ten, while Li Auto unfortunately dropped out of the list. Demonstrating robust momentum, eight out of the ten listed automobile makers achieved YoY sales growth, excluding only BYD and Tesla China. Standout performers like XPeng, Geely, and Leapmotor posted particularly impressive gains. However, six manufacturers faced sales pressure MoM, indicating a phase of adjustment.

Leading Players: BYD Holds Top Spot Amidst Shifts

• BYD Dominates (1st): Despite experiencing both YoY (-11.9%) and MoM (-22.0%) declines, BYD secured its leading position with a substantial 274,664 units sold in July. Its massive volume solidifies its dominance in the new energy car sector.

• Geely Accelerates (2nd): Geely Auto surged into second place with 121,385 retail sales, marking a remarkable 112.1% YoY surge and a slight 5.7% MoM increase, showcasing its aggressive push towards the top tier of battery car manufacturers.

• Changan Holds Steady (3rd): Changan Automobile maintained third position with 55,659 units sold, achieving a healthy 27.6% YoY growth, though facing a significant 27.1% MoM decline.

Rising Stars & Notable Performances

• Harmony Intelligent Mobility Alliance (5th): This alliance (AITO, Luxeed, Stelato, Maextro, SAIC) sold 47,375 units in July, a 7.5% YoY increase. Its cumulative yearly sales reached 251,381 units, up 5.5% YoY.

• Seres (7th): Seres Automobile sold 40,753 units, ranking seventh with a 3.0% YoY increase.

• XPeng: The Dark Horse (10th): XPeng Motors was the standout surprise, rocketing into tenth place with 33,717 units sold – a staggering 263.0% YoY surge and a 9.4% MoM increase, marking a significant breakthrough among new energy vehicle startups.

• Strong Doubles: Geely Auto (112.1% YoY) and Leapmotor (106.1% YoY) both delivered exceptional growth, effectively doubling their July 2023 sales figures for their electric vehicle lines.