The uptick in Chinese car sales contributed to a buoyant first quarter for the global automotive industry, with a total of 21.05 million vehicles sold worldwide, marking a year-on-year increase of 3%. Notably, this robust performance reinforces China’s status as a key player in the international automotive market.
Analysis of historical trends reveals a steady ascent in Chinese car sales’ global market share. Between 2016 and 2018, Chinese car sales consistently held around 30% of the world’s car sales, before experiencing a slight dip to 29% in 2019. However, recent years have witnessed a resurgence, with the share climbing to 32% in 2020 and 2021, culminating in an impressive 33% in 2022.
| Brands | World Market Share (%) | Chinese Market Share (%) | North American Market Share (%) | European Market Share (%) |
| Toyota | 10.6 | 4 | 14 | 7 |
| Volkswagen | 9.5 | 10 | 5 | 21 |
| Hyundai | 7.4 | 1 | 10 | 7 |
| Stellantis | 6.9 | 0 | 8 | 18 |
| Renault-Nissan-Mitsubishi | 6.5 | 3 | 8 | 12 |
| GM | 5.4 | 5 | 15 | 0 |
| Honda | 4.7 | 1 | 13 | 5 |
| Ford | 4.7 | 4 | 8 | 1 |
| Suzuki | 4.0 | 0 | 0 | 1 |
| Geely | 3.5 | 2 | 3 | 6 |
| BYD | 3.2 | 9 | 0 | 0 |
| Chery | 3.0 | 3 | 2 | 6 |
| Mercedes Benz | 2.9 | 8 | 1 | 3 |
| BMW | 2.7 | 3 | 3 | 2 |
| Changan | 2.6 | 8 | 0 | 0 |
| SAIC | 1.7 | 4 | 0 | 1 |
| Mazda | 1.4 | 0 | 3 | 1 |
Despite China’s formidable presence, global automaker sales rankings for 2024 saw Toyota clinch the top spot with a commanding market share of 10.6%. Toyota stands as the sole auto group boasting over 10% market share, followed closely by Volkswagen and Hyundai with 9.5% and 7.4%, respectively. Together, these three automotive giants commandeer a substantial 27.5% of the world’s market share.
