Chinese Market 2024: Sales Volume 31.4M units, Chinese OEMs Share over 65%

Summary

For the full year of 2024, new vehicle sales in the Chinese market increased by 4.5% to 31.436 million units (based on factory shipments, including exports), with SUV models accounting for 47% of the total. In terms of sales volume by group, BYD posted a significant increase and took the top spot, surpassing the SAIC Group.

Chinese OEMs in the passenger car market performed extremely well, accounting for more than 65% of the market with 18.079 million units, up 22.2% over the previous year. In particular, BYD is in the lead, having sold 4.25 million units, up 41.1% over the previous year. On the other hand, sales of German-affiliated OEMs were down 10.8% to 4.013 million units, with all three German automakers reporting a year-over-year (y/y) decline. Japanese-affiliated OEMs saw their market share drop to 11.5% with 3.158 million units sold, down 18.7% from the previous year. U.S. automakers saw a 23.7% y/y decline to 1.774 million units, with GM's drop being particularly significant, down 52.1% y/y to approximately 500,000 units.

Sales of New Energy Vehicles (NEVs: BEVs, PHEVs, FCEVs) in 2024 were up 35.5% from the previous year to 12.866 million units, bringing the share of NEVs in new vehicle sales to about 40%. In particular, sales of PHVs grew significantly.

China is currently making a national effort to expand overseas, and the number of automobile exports in 2024 increased 19.3% y/y to 5.859 million units. In this context, Chery Automobile is the top exporter and has been in the lead for 22 consecutive years. It is followed by SAIC and Changan.

Related reports:
Chinese Market: NEV Sales Trend in 2024 (Dec. 2024)
Chinese Market Q4 2024 (Jan. 2025)
Chinese Market Q3 2024 (Nov. 2024)
Chinese Market H1 2024: New Vehicle Sales Exceed 14M Units, NEVs 4.9M (Aug. 2024)
Chinese Market Q2 2024 (Aug. 2024)
Chinese Market Q1 2024 (May 2024)

Local Reconstruction Note

This article has been expanded from the visible local mirror text, headings, tags, image captions, tables, and related local article titles. It is presented as a reconstructed reading version, not as a hidden original document.

vehicle sales in China up 4.5% y/y to 31.4M units

The source outline identifies this section as part of “Chinese Market 2024: Sales Volume 31.4M units, Chinese OEMs Share over 65%”. Based on the available local metadata, this section should be read through the lens of China, Export, BYD, Chery, Geely, GWM and the visible introduction, figures, captions, and tables.

Sales by group: BYD tops the list, Geely and Chery perform well

Passenger car market: Chinese-OEMs share exceeds 65%

Sales by vehicle type : SUVs account for 53.8% of the PV market; many BYD in the Top 10 sedans and hatchbacks

NEV sales exceed 10M units, accounting for 40% of the market

Related Local Signals

Nearby records in the local archive include Taipei AMPA 2026: Foxconn’s EV Technology; Smart Energy Week 2026: Batteries and Charging; Electrified Vehicle (xEV) Sales Monthly Report (March 2026); Geely i-HEV Intelligent Hybrid Technology Presentation. These titles can be used as adjacent evidence when comparing suppliers, technologies, markets, and reporting periods.