Sales of new passenger cars and light commercial vehicles in China at the end of July amounted to 1.75 million units, down 3.9 percent from a year ago, Focus2Move reported on August 31.
In total, 11.88 million cars have been sold in the country since the beginning of the year, 1.9% more than the same figure in 2023. Analysts noted that BYD and Geely were the only Chinese brands to show positive year-on-year sales growth.
BYD remained the market leader among brands in July with 1.62 million sales. The top three also included Volkswagen (1.07 million) and Toyota (831.7 thousand), followed by Geely (615 thousand) and Changan (541 thousand).
Analysts say the Chinese market accounts for about 30% of global new car sales, so sales in China affect the entire automotive industry. The market boom ended in 2017, when sales peaked at 28.4 million cars a year.
“It is clear that the market will not register further sustainable growth in the future, given the level of saturation, and the replacement of internal combustion vehicles with electric vehicles will remain a key driver of development.”– indicated in the message.
Source: Rossa Primavera
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