All of the top ten best-selling vehicle models in China last month were new energy vehicles, reflecting the rapid decline of traditional fuel-powered cars in the mainstream market.
The most sought-after car in May was the Xingyuan, a compact electric vehicle developed by Geely, with sales reaching 38,751 units, according to retail data compiled by DCar. Tesla’s Model Y followed closely with 28,911 units sold, with Xiaomi’s SU7, Leapmotor’s A10, and Li Auto’s i6 also ranking high among the best-sellers.
Examining the top 20 best-selling models for May, only four were powered by fuel. Geely’s Boyue, with 13,395 units sold, placed 17th, while Volkswagen’s Lavida, Nissan’s Sylphy, and Geely’s Binyue each sold over 10,000 units during the month.
In April, just one fossil fuel vehicle was among the top 10, compared to five in March, and seven in January.
The automotive market last month was characterized by a surge in new energy vehicle sales, with the domestic penetration rate hitting a record 62.9%, suggesting a faster-than-anticipated shift toward electrification, according to Cui Dongshu, secretary-general of the China Passenger Car Association.
Passenger vehicle retail sales in China fell sharply by 22% to 1.51 million units in May compared to the previous year. For the first five months, total sales dropped by 20% to 7.1 million units from the same period last year, with fossil fuel vehicle sales declining by 39%, according to recent data.
Cui pointed out that the main reason for the decline in China’s auto industry last month was the significant decrease in fossil fuel vehicle sales, driven by high oil prices caused by geopolitical instability.
This situation not only diminished consumers’ willingness to purchase traditional fuel-powered cars but also increased household spending pressures, thereby weakening overall car-buying power and serving as a critical factor in constraining year-on-year growth in the automotive sector.