May NEV Retail Penetration Hits 63% as BYD, SAIC, Chery See Strong Sales Growth

In May, national retail sales of passenger vehicles in China reached 7.15 million units, of which new energy vehicle (NEV) sales totaled 3.732 million units, representing a market penetration rate of 63%. BYD led the market with sales of 383,500 units, up 0.25% year-over-year, including 160,600 units sold overseas. SAIC Motor reported total sales of 349,000 units in May, with NEV sales reaching 182,000 units—a 46.5% year-over-year increase—and overseas sales rising 32.5% year-over-year. Chery Group sold 247,800 vehicles in May, up 20.5% year-over-year, including 100,300 NEVs, a 58.8% year-over-year increase. Its export volume surged 80.5% year-over-year. Geely’s total sales in May amounted to 237,700 units, with NEV sales at 133,400 units, accounting for 56% of its total sales. Its overseas exports soared 184% year-over-year. Among emerging EV brands, Leapmotor delivered 81,600 vehicles in May, up 81% year-over-year and 14.3% month-over-month. NIO delivered 37,700 units, up 62.3% year-over-year, bringing its cumulative deliveries for the first five months to 150,000 units, an increase of 68.7% year-over-year. Li Auto delivered 33,300 units, down 18.4% year-over-year and slightly down 2.2% month-over-month. XPeng delivered 32,200 units, down 4.1% year-over-year. Xiaomi delivered over 30,000 vehicles in May, marking the second consecutive month exceeding the 30,000-unit threshold.