October 27 – The latest rankings from Yiche.com reveal September’s top 20 new energy vehicle (NEV) brands in China by sales revenue. The list highlights that BYD, Tesla, and Li Auto claimed the top three spots, with estimated sales revenues of 43.1 billion RMB, 19.3 billion RMB, and 16.6 billion RMB, respectively.
BYD emerged as the leader with sales of 369,000 units, an average transaction price of 117,000 RMB, and a total sales revenue of 43.1 billion RMB, more than twice Tesla’s revenue. Tesla, however, maintains an advantage with an average price of 272,000 RMB, indicating its strong position in the premium segment. Li Auto followed as the third-highest, with 53,000 units sold at an average price of 312,000 RMB, totaling 16.6 billion RMB.
Huawei-backed HarmonyOS-powered Hongmeng Zhixing took the fourth position with September sales reaching 41,000 units, an average price of 378,000 RMB, and revenue totaling 15.4 billion RMB. This achievement is largely driven by the popularity of the AITO M9, which is priced close to 400,000 RMB, putting it ahead of traditional luxury brands in the market.
Positions five through ten show the secondary tier in the NEV sector, with NIO leading this group by delivering 21,000 units at an average price of 307,000 RMB, generating 6.5 billion RMB in revenue, although falling 10 billion RMB behind Li Auto. Zeekr, Wuling, Leapmotor, GAC Aion, and Geely Galaxy follow NIO closely, with Zeekr and Wuling achieving an impressive 23% growth in sales revenue – the fastest growth rate among the Top 10 brands.
The September rankings highlight BYD’s market dominance and the intense competition within China’s NEV market. Emerging players like Huawei’s Hongmeng Zhixing present challenges to traditional luxury brands, marking an era of increased premiumization and diversification in China’s NEV industry.
