China's Car Market Surges in First Half, BYD Takes Top Spot
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Editor
15 July 2024 08:30 WIB
TEMPO.CO, Jakarta - China's car sales increased in the first half of 2024, with overall sales climbing 6.1% year-on-year to 14.047.000 units. This growth is fueled by a significant surge in new energy vehicles (NEVs), which outsold gasoline-powered cars for the first time.
According to the China Passenger Car Association (CPCA) and the China Association of Automobile Manufacturers (CAAM), NEV sales skyrocketed by 32% year-on-year, reaching 4.94 million units in the first semester. This surge placed eco-friendly vehicles control 35.2 percent of China’s market share.
Citing from the CarNewsChina page today, July 15, BYD, a leading Chinese NEV manufacturer, became the best-selling brand in China in the first half of 2024. They raked in an impressive 1,607,000 million unit sales.
Following BYD are the established players Volkswagen with total sales of 1,266,000 units and Chery with a sales volume of 1,057,000 units. Meanwhile, Japanese brands like Toyota and Honda were ranked sixth with sales of 644,700 units and 8th with a sales volume of 444,700 units, respectively.
Moreover, the domestic sales volume of Chinese brands reached 5,559,000 units, an increase of 17.8 percent year-on-year, with a market share of 56.5 percent.
In contrast, foreign brands faced difficulties. German, Japanese, American, and French manufacturers all saw year-on-year sales decline, with market share losses ranging from 6.2% to 19.2%.
DICKY KURNIAWAN
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