by SONG Jianan
China's auto sector continued its robust expansion in October, with new energy vehicles (NEVs) output reaching 1.77 million units and sales at 1.72 million, up 21.1% and 20% year on year, according to data released Tuesday by the China Association of Automobile Manufacturers (CAAM). NEVs made up 51.6% of all new car sales during the month — the first time the share has surpassed 50%.
From January to October, NEV production and sales totaled 13.02 million and 12.94 million units, both growing by over 32% year on year. Exports hit 2.01 million units in the first ten months, nearly doubling from a year earlier, with passenger NEVs accounting for the vast majority.
BYD, Geely and SAIC remained the top three players, together controlling more than half of the domestic NEV market. BYD alone took a 28.6% share, far ahead of rivals. Other major brands including Changan, Dongfeng, Chery, Tesla, Leapmotor, XPeng and FAW rounded out the top ten, together commanding more than 80% of sales.
October was also a record month for several leading manufacturers. XPeng delivered 42,013 vehicles, marking an all-time high and its second straight month above 40,000. Leapmotor sold 70,289 units, up 84% year on year and the first time it crossed the 70,000 mark. NIO delivered 40,397 vehicles, almost doubling from a year earlier.
CAAM deputy secretary-general Chen Shihua said the surge reflected both strong replacement demand boosted by government subsidies and consumers advancing purchases ahead of next year's reduction in NEV purchase tax incentives.
