The structure of the domestic auto market changed significantly in February, with the top 10 retail sales list of Electric Vehicle companies officially released: Xpeng Autos continued to sell well, Tesla's sales plummeted, Xiaomi Autos made its way into the list, and Hongmeng Intelligent Mobility unexpectedly fell off the list.

In the overall market, the sales volume of narrow-sense Electric Vehicles reached 0.682 million units in February, a year-on-year increase of 78.6%, but a month-on-month decrease of 8.4%. The Passenger Vehicle Association analysis indicated that due to the low sales base in February last year, the retail sales of Passenger Vehicles achieved substantial year-on-year growth this month, resulting in a rare "post-holiday strong opening".

In terms of specific brands, the February top 10 list changed compared to January, with Xiaomi Autos successfully making the list, while Hongmeng Intelligent Mobility dropped out of the top ten, and some companies in the list also saw adjustments in their rankings.

The following are the top 10 retail sales of Electric Vehicle companies in February:

The top four companies in the list did not change their rankings, and the year-on-year increase in retail sales in February was significant, while the month-on-month performance was poor. BYD still dominated the retail sales with 0.2057 million units in February, continuing its brilliance. It had a year-on-year growth of 73.2%, with a slight month-on-month increase of 2.7%. The second to fourth places were taken by Geely Autos, Chongqing Changan Automobile, and SAIC-GM-Wuling, with Geely Autos ranking second with a sales volume of 0.0933 million units, notable for its year-on-year dramatic growth of 197.5%, although its month-on-month decline of 20.6% was tied for the worst alongside Tesla.

Xpeng Autos ranked sixth with a retail sales volume of 0.028 million units, soaring by 610.3% year-on-year. In the first two months of this year, the cumulative retail sales amount to 0.0563 million units, a year-on-year increase of 377.6%, absolutely thriving. The new model MONA M03 launched by Xpeng Autos last August achieved remarkable results. Between September and November, its monthly sales stabilized at around 0.01 million units, successfully establishing itself in the market. By December, the popularity of MONA M03 continued to rise, with monthly sales breaking through 0.015 million units, becoming the sales champion in the compact electric sedan segment that month. In the following months, the MONA M03 continued to exert strength, maintaining a stable sales volume of over 0.015 million units, becoming the core driver of sales growth for Xpeng Autos.

Tesla's sales in China continue to decline, with the retail sales in February reaching 0.0268 million units, a year-on-year decrease of 11.2% and a month-on-month decrease of 22.1%. "The decline in Tesla's (February) sales was mainly impacted by the reduced production of older models," analyzed Cui Dongshu, secretary-general of the Passenger Car Association. He believes that whether in the Chinese market or in exports, the Model Y is facing certain challenges; the introduction of an upgraded Model Y will inevitably lead to rhythm changes in its market strategy, affecting the global market.

Xiaomi Autos has become a "new face" on the February list. Xiaomi Autos' retail continued to be above 0.02 million units in February. Although currently the family only has the Xiaomi SU7 model, it still achieved considerable sales performance by offering different segmented versions. On February 27, the Xiaomi SU7 Ultra was officially launched, achieving over 0.01 million units in orders just two hours after its release, fulfilling the annual sales target. It can be anticipated that with the addition of the Xiaomi SU7 Ultra, Xiaomi Autos is expected to continue making efforts in the subsequent market competition, further enhancing its market share.

Hongmeng Zhixing dropped out of the February TOP10 list, with a total of 0.0215 million new cars delivered in February, a decrease of over 0.01 million units compared to January's 0.035 million units, and the retail sales of the "Four Realms" combined decreased by 38.57% month-on-month. After a rebound with the "Aion," sales for Chongqing Sokon Industry Group Stock have been declining since the end of last year. In December last year, Chongqing Sokon Industry Group Stock's sales decreased by 9.57% year-on-year, and in January this year, sales fell to 0.0179 million units, a year-on-year decrease of 51.39%. As of now, Chongqing Sokon Industry Group Stock has not announced February sales.

This article is reproduced from Caixin, edited by Chen Wenfang.