GM surpassed Tesla in electric car sales in China in April
According to the China Passenger Car Association (CPCA), Tesla dropped from third to eighth place in the ranking of electrified car market share in the PRC in April.
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BYD remains the leader with a 29.7 per cent share, followed by Geely Group (13.1 per cent), Changan (6.7 per cent) and the SAIC-GM-Wuling joint venture (5.7 per cent). Tesla's share in April was 3.2 per cent - down from 4.6 per cent a year ago and down significantly from March's 7.5 per cent.
It is important to note, however, that the NEV (New Energy Vehicle) category covers not only pure electric vehicles, but also plug-in hybrids (PHEVs) and hydrogen vehicles. Unlike Tesla, which sells pure electric vehicles exclusively, BYD and Geely also sell PHEV models.
Tesla's sales have fallen not only in China, but also in the US and Europe. The company's management explains this as a temporary drop in deliveries amid the launch of the updated Model Y. However, apparently, even this model does not save the situation. In the US, the company is already offering preferential financing - a sure sign of weak demand.
Against the background of Tesla's weakening, its competitors are strengthening their positions, offering not just restyling, but fundamentally new models. In particular, General Motors is showing growth in China with the support of local partners. The SAIC-GM-Wuling joint venture sold more than 100,000 electric cars in China last year. In April, it not only overtook Tesla in NEV sales, but also took a larger share of the total from January to April: 6.3 per cent versus Tesla's 4.9 per cent.
GM's success in China is driven by several models at once. For example, the Buick brand is so popular in the PRC that it has its own Electra sub-brand line, including models such as the E5 and Velite 6. More electric vehicles are planned for launch this year, including those with more affordable LFP batteries. In addition, the Buick GL8 minivan, the electric Cadillac Lyriq and the budget Wuling Hong Guang MiniEV are actively supporting sales.