Top 10 Best-Selling Models in May Were All New Energy Vehicles

[Market Update] In May, all top ten best-selling passenger vehicle models were new energy vehicles (NEVs), with internal combustion engine (ICE) vehicles completely absent from the rankings.

Key Trend: ICE Vehicles Drop from Dominance to Zero Within Six Months

The Geely Xingyuan topped the chart with 38,751 units sold, followed closely by the Tesla Model Y and the Xiaomi SU7. The top ten included battery electric vehicles (BEVs), extended-range electric vehicles (EREVs), and plug-in hybrid electric vehicles (PHEVs)—not a single traditional ICE vehicle was present. In April, the Geely Binyue remained as the sole ICE model on the list; in March, ICE vehicles still held five spots, and as recently as January, they accounted for as many as seven models.

Key Data: NEV Penetration Rate Hits Record High

May saw 950,000 NEVs retailed, achieving a penetration rate of 62.9%. In contrast, only 560,000 ICE vehicles were retailed, a year-over-year plunge of 39%, dragging down the overall market. The decline in ICE vehicle sales accounted for 82% of the total reduction in passenger vehicle sales.

Industry Impact: ICE Vehicles Retreat to Export and Niche Markets

Wholesale data shows that models like the Binyue, Tiggo, and Boyue L are maintaining sales primarily through exports, but have already fallen out of the top 17 in retail rankings. Former chart-toppers such as the Lavida and Sylphy have now slipped to around the 20th position.