Gasoline vehicles fall out of China's top ten best-sellers for first time

China's automotive market has witnessed a historic shift, with gasoline-powered cars falling out of the top ten best-selling models for the first time in May. This milestone underscores the rapid ascendance of new energy vehicles (NEVs) – a category encompassing pure electric, plug-in hybrid, and other electrified models.

Data from the specialized portal Dongchedi reveals that the top ten models in May were exclusively NEVs. Geely's Xingyuan led the pack with 38,751 units sold, followed by Tesla's Model Y with 28,911 units. Xiaomi's SU7, Leapmotor's A10, and Li Auto's i6 rounded out the top five.

This trend marks a significant departure from previous months. In April, a single gasoline model still appeared in the top ten. By March, internal combustion engine vehicles occupied five spots, and in January, they held seven. While gasoline cars still held four positions within the top twenty best-sellers in May, their overall market share is clearly diminishing.

Cui Dongshu, Secretary General of the China Passenger Car Association, described the market in May as characterized by "coldness" in gasoline vehicles and a "boom" in NEVs. The retail penetration rate for NEVs reached a record high of 62.9%. This electrification surge is intensifying competition, leading to price wars and overcapacity, prompting manufacturers to increasingly focus on exports. Local brands like BYD, Xpeng, Nio, Xiaomi, and Li Auto are aggressively challenging established foreign automakers by emphasizing technology, competitive pricing, and smart features.

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The main characteristic of the market in May was the combination of 'coldness' in gasoline vehicles and 'boom' in new energy vehicles.