One in three cars sold in the world is Chinese, but Toyota is still first

Global sales rankings for Q1 2024 confirm the dominance of Chinese cars. Who wins in Europe and China?

By: Fabio Gemelli

May 13, 2024 at 5:36am ET

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One in three cars sold in the world last March was Chinese. Giving the news, reported by CarNewsChina, is the secretary general of the China Passenger Car Association (CPCA) CuiDongshu, who speaks of a 33 per cent share of Made in China cars in the global tally of 8.15 cars in March 2024 alone.

The same article goes on to point out that the percentage of Chinese cars in the total worldwide sales each year has changed slightly in recent years. The most significant jump was in 2009, when the share rose from 13.7% to 20.8%.

The share of Chinese car sales in the world total
(2008-2023)

2008: 13,7%
2009: 20,8%
2010: 24,1%
2011: 23,7%
2012: 23,5%
2013: 25,7%
2014: 26,7%
2015: 27,4%
2016: 29,9%
2017: 29.8%
2018: 28,6%
2019: 29%
2020: 32%
2021: 32%
2022: 33%
2023: 34%

Toyota still leads the world with 10.6% of sales

Other sales statistics provided by Cui Dongshu on its WeChat profile (reported by ITHome and CLS) include car registration figures worldwide by brand/group, with Toyota still firmly in the lead with 10.6% of the total in the first three months of 2024, followed by Volkswagen (9.5%) and Hyundai (7.4%).

Toyota Yaris

Volkswagen T-Cross

Hyundai Santa Fe

In this January-March 2024 quarterly ranking, the tenth place of Geely, the first Chinese manufacturer with a global share of 3.5% and ahead of BYD (3.2%) and Chery (3.0%), stands out.

Zeekr X (Geely group)

BYD Seagull

Chery Tiggo 9

Sales shares by brand/group in the world
(January-March 2024)

Toyota: 10.6%
Volkswagen: 9.5%
Hyundai: 7.4%
Stellantis: 6.9%
Renault Nissan Mitsubishi: 6.5%
General Motors: 5.4%
Honda: 4.7
Ford: 4.7
Suzuki: 4.0
Geely: 3.5%
BYD: 3.2%
Chery: 3.0%
Mercedes-Benz: 2.9%.
BMW: 2.7%.
Changan: 2.6%.
Tesla: 2.2%
Great Wall Motor: 1.8%.
SAIC: 1.7%
Mazda: 1.4%
Subaru: 1.1%

Volkswagen and Stellantis Europe

The numbers change drastically when looking at the European market alone, which according to the same CPCA data (consisting of 139 manufacturers) sees Volkswagen (21%) and Stellantis (18%) dominating.

Volkswagen Golf

Peugeot 208

The only Chinese to get interesting slices of the European market are Chery and Geely, tied with a 6% continental share, while SAIC with its MG brand snatches a paltry 1%. In fact, the most up-to-date Acea data shows a different quarterly ranking by brand and group and you can find it in the PDF linked below.

European car registration figures, March 2024 (source: Acea)

Sales shares by brand/group in Europe
(January-March 2024)

Volkswagen: 21%
Stellantis: 18%
Renault Nissan Mitsubishi: 12%
Toyota: 7%
Hyundai: 7%
Mercedes-Benz: 6%.
BMW: 6%.
Honda: 5%
Geely: 3%
Tesla: 2%
Ford: 1%
Suzuki: 1%
Great Wall Motor: 1%
Mazda: 1%
SAIC: 1%
Chery: 6%
General Motors: 0%
BYD: 0%
Changan: 0%
Subaru: 0%

Volkswagen still wins in China, but BYD is close behind

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In the Chinese domestic market, the first three months of 2024 still see Volkswagen and its many local joint ventures (SAIC, FAW and JAC) leading in sales with 10% of the total. But BYD is not far behind with its 9% and major electric offensive, and Mercedes-Benz is third at 8%.

Volkswagen Tiguan L Pro (China)

BYD Seal U DM-i

Mercedes EQS

Rather impressively, however, giants such as Hyundai and Stellantis stop at 1% and 0% respectively, demonstrating an almost total absence from the Chinese market.