Chinese cars accounted for 33% of world’s car sales in March 2024

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May 5, 2024 4:12 PM CEST

Dong Yi Chen

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In March 2024, Chinese car sales accounted for 33% of the world’s monthly 8.15 million vehicle sales, according to Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA). In the first quarter of 2024, 21.05 million vehicles have been sold worldwide, a year-on-year increase of 3%.

From 2016 to 2018, Chinese car sales accounted for about 30% of the world’s car sales, then dropped to 29% in 2019. The share rebounded to 32% in 2020 to 2021 and rose to 33% in 2022.

	Brands	World Market Share (%)	Chinese Market Share (%)	North American Market Share (%)	European Market Share (%)
1	Toyota	10.6	4	14	7
2	Volkswagen	9.5	10	5	21
3	Hyundai	7.4	1	10	7
4	Stellantis	6.9	0	8	18
5	Renault-Nissan-Mitsubishi	6.5	3	8	12
6	GM	5.4	5	15	0
7	Honda	4.7	4	8	1
8	Ford	4.7	1	13	5
9	Suzuki	4.0	0	0	1
10	Geely	3.5	2	3	6
11	BYD	3.2	9	0	0
12	Chery	3.0	3	2	6
13	Mercedes Benz	2.9	8	1	3
14	BMW	2.7	3	3	2
15	Changan	2.6	8	0	0
16	SAIC	1.7	4	0	1
17	Mazda	1.4	0	3	1

Global automaker sales rankings, Q1 2024 | Source: CPCA

Among the global automaker sales rankings in 2024, Toyota ranked first, with a market share of 10.6%, and is the only auto group with more than 10% market share, followed by Volkswagen and Hyundai, with 9.5% and 7.4%, respectively. Together, these three companies accounted for 27.5% of the world’s market share.

Among the Chinese companies, Geely is the only automaker that made it into the top ten list. In the first quarter of 2024, Geely sold 738,400 vehicles, accounting for 3.5% of the world’s market share. BYD came closely behind Geely, claiming 3.2% of the world’s market share.

Additionally, the top five Chinese auto exporters in the first quarter of 2024 are SAIC, Chery, Great Wall Motor, BYD, and Geely.