Chinese cars secure a 33% share of global car sales in March 2024 – Geely, BYD, Chery, Changan in Q1 top 20

Chinese car brands accounted for 33% of the global sales of passenger vehicles in March 2024, in which 8.15 million units were shifted during the month. This was revealed in statistics released by the China Passenger Car Association (CPCA), as CarNewsChina reports.

In the first quarter of this year, 21.05 million vehicles were sold worldwide, making for a three percent increase from the same period last year. Among the Chinese players, Geely was the sole automaker from the country to make it into the top 10 list for the quarter, the 738,400 vehicles it sold – accounting for 3.5% of the global market share – giving it 10th spot in the global rankings. Domestically, it held a 2.0% share of the market.

According to the stats, BYD was just behind it in 11th, claiming a 3.2% share of the global market (it had 9% of the Chinese market, making it the best performing domestic brand), while Chery was a step behind in 12th, securing 3.0% of the pie globally (3.0% share in China).

Other Chinese automakers in the global top 20 mix were Changan, which was 15th overall with a 2.6% market share (8% in China) and SAIC, which was 16th with a 1.7% slice of the pie (4% in China).

At the head of the global automaker sales rankings for the quarter was Toyota, with a market share of 10.6%, making it the only company with more than 10% of the market share. Second in the overall standings was the Volkswagen group, with a 9.5% share (despite competition, it managed to secure 10% of the Chinese market). In third was Hyundai, with a 7.4% share. Together, the three companies held a 27.5% share of the global sales market for the first three month of this year.

Elsewhere, Stellantis, with a 6.9% share, was placed fourth. In fifth was the Renault-Nissan-Mitsubishe Alliance, with 6.5%, while General Motors was placed sixth, with a 5.4% share of the market. Next, there was Honda and Ford, seventh and eighth respectively, both having 4.7% of the market. Meanwhile, a 4.0% share was good enough to secure ninth place for Suzuki.

The CPCA data also revealed the top five Chinese auto exporters in the first quarter of 2024, and they are SAIC (126,053 units), Chery (117,719 units), Great Wall Motor (77,935 units), BYD (51,138 units) and Geely (46,752 units).

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