On January 10 information launched by the China Passenger Automotive Affiliation CPCA present the highest 10 finest promoting automotive corporations in China for 2024. Cumulative retail gross sales from January to December 2024 for the passenger automotive market are reported as 22.892 million items, which is a average 5.5% improve over 2023 ranges.
There isn’t a shock that BYD tops the desk, however the high 5 now consists of 4 Chinese language producers, up from 3 a 12 months earlier. The overall variety of Chinese language producers within the high 10 stays at 5, however there have been appreciable modifications.
| Place | Firm | 2024 gross sales | Proportion change | Market Share |
| 1 | BYD | 3,718,281 | 37.4% | 16.2% |
| 2 | Geely | 1,773,251 | 28.0% | 7.7% |
| 3 | FAW Volkswagen | 1,608,578 | -12.9% | 7.0% |
| 4 | Changan | 1,365,745 | -0.6% | 6.0% |
| 5 | Chery | 1,355,205 | 64.6% | 5.8% |
| 6 | SAIC Volkswagen | 1,200,000 | -2.6% | 5.2% |
| 7 | SAIC-GM-Wuling | 824,681 | 14.0% | 3.6% |
| 8 | FAW Toyota | 798,087 | -0.5% | 3.5% |
| 9 | GAC Toyota | 770,147 | -14.5% | 3.4% |
| 10 | Tesla | 657,102 | 8.9% | 2.9% |
Following up BYD in second place is Geely which had a gross sales improve of 28.0% YOY. This, coupled with the lower in gross sales for the 12 months at FAW Volkswagen, led to them swapping locations.
Changan remained in fourth place regardless of a 0.6% decline in gross sales. Rounding out the highest 5 was Chery, which jumped from eighth place in 2023 because of a 64.6% rise in gross sales.
The one different Chinese language model within the high 10 was the SAIC-GM-Wuling three way partnership, a brand new entrant at quantity 7, because of a 14% gross sales improve. Notably, Nice Wall crashed out of the desk, being changed within the quantity 10 place by Tesla in 2024. As reported yesterday, Nice Wall suffered an enormous decline in gross sales in China in 2024. One other notable exit was the SAIC Basic Motors JV, which suffered a crash in gross sales.
BYD has a 16.2% share of the Chinese language market, which means that one in each six automobiles bought is a BYD. Second place Geely has lower than half that market share.
The highest 5 corporations management 42.7% of the market and the highest 10 management 61.3%. The 5 Chinese language corporations within the Prime 10 management 39.3% of the market.
Notably, Volkswagen if the 2 JVs are mixed, could be in second place. Equally, Toyota could be in fourth.
Sources: CPCA, Quick Know-how
