In 2024 almost half of all new cars came from China
A total of 79 models were submitted by companies from this country. Far behind the Europeans, who submitted 47
Even though 2024 will not be remembered as a good year for the automotive industry, manufacturers have continued to introduce new products, proving that there are still opportunities and that consumers have more choice than ever before. As of January 2024, the industry has seen the introduction of 162 new models (excluding light commercial vehicles and entry-level rebadges) from eight different markets around the world.
The new arrivals are not all global products, as the industry is moving strongly towards localised production and cars adapted to local tastes. Here is a summary of what was presented during the year.
China is getting stronger
Almost half of the new cars presented this year came from Chinese manufacturers. A total of 79 models were presented by companies from this country. Far behind were European manufacturers, who presented 47 new models.
BYD came second in terms of new products. Being the biggest seller in China, it is not unusual to see a lot of movement in its line-up. The Chinese manufacturer introduced 14 new models: BYD Qin L, Seal 06, Seal 06 GT (electric), Sealion 05, Shark (electric), Song L DM, Xia, Yuan Up (electric); Denza N9, Z9 hatchback and Z9 saloon; Yangwang U7 and U9; Fang Cheng Bao 8. BYD is expected to sell more than 4 million units in 2024.
Seal 06 GT
Yangwang U9
China's Geely presented 10 new cars: 3 from Lynk & Co, 3 from the Geely brand, 2 from ZEEKR, one from Jiyue and one from LEVC.
The other manufacturers
Despite China's lead in the ranking of country origins, it is the Volkswagen Group that has revealed the most new models in 2024. Although not its finest hour, the German group has been quite dynamic in terms of revelations. Since January, a total of 19 new models have been unveiled, including eight Audis, six Volkswagens, two Skodas, one Cupra, one Porsche and one Lamborghini.
Audi A6 Sportback e-tron
Opel Frontera Electric
The 13 Stellantis brands presented 12 new models. Opel/Vauxhall excelled with two new vehicles, the Frontera and the new Grandland. The other brands presented one model each. Chrysler and Ram did not present anything.
The Japanese presented 16 models and the Koreans followed with eight new products. The American manufacturers presented 7 new models, followed by the Indian (3), Vietnamese (1) and Iranian with one model. Neither Russian, Turkish nor Malaysian car manufacturers presented new cars in 2024.
Toyota
Toyota 4Runner TRD Pro
In contrast to its outstanding performance in 2023, Toyota, the world's largest car manufacturer, presented only three new products: the new 4Runner, the bZ3X and the Urban Cruiser.
Total number of new models presented in 2024 by OEM
| Volkswagen Group | 19 |
| BYD | 14 |
| Stellantis | 12 |
| Geely Group | 10 |
| Hyundai-Kia | 7 |
| Chery Group | 7 |
| Changan Group | 6 |
| SGMW | 5 |
| SAIC | 5 |
| Nissan | 5 |
| Honda | 5 |
| FAW | 4 |
| Renault | 4 |
| GM | 4 |
| GAC | 4 |
| Ferrari | 3 |
| Toyota | 3 |
| BAIC | 3 |
| Dongfeng | 3 |
| BMW | 3 |
*Light commercial vehicles, quadricycles, basic rebadges, one-off supercars are excluded.
SUVs remain the favourite
SUVs were once again the preferred body type for car manufacturers presenting new cars. By my calculations, they account for 57 per cent of new introductions in 2024, or 92 new models. Interestingly, China did not overtake Europe in this segment, as it presented 38 models compared to 24 by European manufacturers. Japan, the United States and Korea followed, with 14, 7 and 5 new models presented respectively.
Saloons are still alive mainly thanks to China. Of the 24 new models that debuted, 20 were presented by Chinese manufacturers and only two by European manufacturers, one from Korea and one from Japan. BYD and Geely led the way with 4 and 3 new models presented respectively.
The third most popular segment was small cars with 15 new models, followed by sports cars with 12 new models.
Total number of new models presented in 2024 by body type:
| SUV | 92 |
| Saloons | 24 |
| Hatchbacks | 15 |
| Sports cars | 12 |
| MPVS | 7 |
| Estates | 5 |
| Pick-up | 4 |
| City car | 3 |
*Light commercial vehicles, quadricycles, basic rebadges, one-off supercars are excluded.
More market analysis:
The author of the article, Felipe Munoz, is Automotive Industry Specialist at JATO Dynamics.
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