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

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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%.

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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.

BrandsWorld Market Share (%)Chinese Market Share (%)North American Market Share (%)European Market Share (%)
1Toyota10.64147
2Volkswagen9.510521
3Hyundai 7.41107
4Stellantis6.90818
5Renault-Nissan-Mitsubishi6.53812
6GM5.45150
7Honda4.7481
8Ford4.71135
9Suzuki4.0001
10Geely3.5236
11BYD3.2900
12Chery3.0326
13Mercedes Benz2.9813
14BMW2.7332
15Changan2.6800
16SAIC1.7401
17Mazda 1.4031
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.

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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.

  • SAIC: 126,053
  • Chery: 117,719
  • Great Wall Motor: 77,935
  • BYD: 51,138
  • Geely: 46,752
  • JAC: 10,938
  • Changan: 7,038

Source: AutoHome, ITHome, CLS

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Edited May 9, 2024: Swapped Honda & Ford’s market share data for China, North America, and Europe for correctness.

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