Compared with the overall automobile market, the domestic new energy vehicle market continued to maintain a fast growth trend in May. From the scorecards of major new energy vehicle manufacturers, both the month-on-month and year-on-year retail sales in May showed significant improvement. Car companies in the TOP10 list all achieved positive growth in retail sales compared to April.

According to the China Association of Automobile Manufacturers (CAAM), in May the sales volume of new energy narrow passenger vehicles was 804,000 units, up 38.6% year-on-year and up 18.8% month-on-month. From January to May this year, the cumulative sales were 3.255 million units, a year-on-year increase of 34.4%. CAAM said that the new energy passenger car market entered a relatively good development stage in May, but market differentiation and enterprise differentiation are also unavoidable.

In terms of specific brands, BYD continued to lead the new energy vehicle market in May with retail sales of 268,000 units, a year-over-year increase of 21.5% and a month-over-month increase of 5.5%. It achieved dual growth in the same period as the previous year, and its retail sales for the first five months of this year increased by 20% year-on-year, with a market share of 34%.

Geely Auto ranked second on the list, with retail sales of new energy vehicles in May reaching 56,000 units, a surge of 148.3% year-on-year. According to publicly available sales data, Geely Auto Group sold a total of 161,000 vehicles in May, an increase of more than 38% year-on-year. It is also evident that new energy vehicles are becoming a new sales growth point for Geely Auto Group, and the excellent market performance of Geometry, Jihe, and Yuanjing new energy vehicles has gradually become the confidence for Geely to impact the new energy market.

Changan Automobile and SAIC-GM-Wuling's new energy vehicles both had retail sales of over 40,000 units in May, ranking fourth and fifth with sales of 49,000 and 42,000 units, respectively. Both also achieved dual growth in the same period as the previous year, and Changan Automobile’s retail sales doubled year-on-year.

Guangqi Aion, Li Auto, Chongqing Sokon Industry Group Stock, and Chery all had new energy retail sales of more than 30,000 units, ranking from sixth to ninth. Among them, Guangqi Aion was the only car company in the list with a year-on-year decline in retail sales. Its retail sales in May were 37,000 units, a year-on-year decrease of 17.5%. Chongqing Sokon Industry Group Stock and Chery had year-on-year growth rates of 491.3% and 300.2%, respectively.