In November 2024, China accounted for 41% of the world’s car gross sales with 3.316 million automobiles bought, reaching an all-time excessive, in response to Cui Dongshu, Secretary Common of the China Passenger Automotive Affiliation (CPCA). The worldwide car gross sales have been 8.18 million items, a year-on-year improve of three% and a month-on-month improve of two%.
From January to November, world car gross sales totaled 82.01 million items, a year-on-year improve of two%. In addition to China, the USA ranked second from January to November 2024 with a market share of 18.2%, whereas India, Japan, and Germany ranked third to fifth, respectively.
Taking a more in-depth have a look at China’s efficiency through the years, from 2016 to 2018, Chinese language cars accounted for about 30% of the worldwide market. Though it fell to 29% in 2019, the share rebounded to 32% from 2020 to 2021 and additional elevated to 33% in 2022. In 2023, China’s share remained at 33.8% and reached 34.1% for the primary 11 months of 2024. Extra particularly, the Chinese language market rebounded in March and April 2024, with China accounting for 33% of the world’s share in Could and June.
Moreover, among the many high ten automakers on this planet this yr, solely three Chinese language automakers have seen their market share improve, particularly, BYD, Geely, and Chery.
As 2024 is wrapping up, China’s car sale is predicted to be round 31 million to 31.3 million automobiles, with a year-on-year development fee of roughly 4%, in response to forecasts from the China Affiliation of Car Producers (CAAM), the China EV100, CPCA, and different organizations. In 2025, the expansion fee is predicted to extend by 3% year-on-year to 32 million automobiles.
Supply: Cui Dongshu, Autohome
