The BYD Qin Plus is the best-selling vehicle in China over H1 2024.
Data from the Chinese Association of Automobile Manufacturers shows Chinese wholesales stepping up 6.1% year-on-year over the First Half of 2024 to 14,047,000 units. Passenger Vehicles are up 6.3% to 11,979,000 while Commercial Vehicles climb 4.9% to 2,068,000. As for New Energy Vehicles, they are up 32% year-on-year to 4,944,000 (or 35.2% share) including 3,019,000 BEVs (+11.6%) and 1,922,000 PHEVs (+85.2%). Exports over H1 leap 30.5% to 2,793,000 including 2,339,000 Passenger Cars (+31.5%). Big news is the market share of indigenous brands of Passenger Cars surpassing 60%, in frank progression on the 53.1% it held a year ago, as shown by the depressing results of most foreign brands over the period as we’ll see below.
In the brands ranking, BYD (+18.4%) has now established itself as the uncontested leader with 1.3 million sales over six months. The gap with #2 Volkswagen (-5.6%) is now over 373,000 units. Toyota (-14%) stays in third place but drops significantly, unlike Geely (+28.1%) up two spots on a year ago to #4. As a result Honda (-15.3%) and Changan (-17.9%), both in difficult, fall to #5 and #6 respectively. No other Top 12 member is in positive, with Audi (-1.1%) and Nissan (-1.3%) faring best. Notably Tesla (-5.4%) edges down and stays #12. Below we have very strong performances by Chery (+45.3%), Hongqi (+24.4%) and Li Auto (+35.8%) but the winner of them all is AITO (+676.8%) storming into the Top 20 at #17.
There are a lot of domestic brands in outstanding shape below, starting with Jetour (+122.2%) cracking the Top 20 at #20, Lynk & Co (+53.3%) at #22, TANK (+75.4%) at #26, Zeekr (+106.1%) at #27, NIO (+60.2%) and Leapmotor (+94.8%) at #29. These manufacturers all broke their monthly volume at least once over the period. The most popular brand launch over H1 2024 is Qiyuan at #31, followed by Xiaomi at #48, Fang Cheng Bao at #54, iCar at #57 and Luxeed at #59. All foreign manufacturers are in negative over H1 bar Mazda (+14.5%) at #43 and Lincoln (+1.5%) at #49. For example, Hyundai is down -23.5%, Cadillac down -29.5%, Chevrolet off -62.7%, Peugeot down -10.9%, Land Rover down -16.9%, Citroen down -36.9%, Skoda down -44.3% and Infiniti down -69.4%.
The BYD Qin Plus (+20.5%) has managed to take the lead of the models ranking off the Tesla Model Y (+1.9%) thanks to more consistent sales over the period. The Qin Plus even stretches its advantage over the Model Y to 33,555 sales, all but ensuring a year-end pole position. The BYD Song Plus (+1%) remains in third place while the BYD Seagull (+571.8%) is still gearing up and ranks #4 vs. #10 over the Full Year 2023. The Nissan Sylphy (-2.1%) and VW Lavida (-9.4%) follow. Excellent performance by the BYD Song Pro (+47.9%) just as the Yuan Plus (-15.7%) makes it five BYD models in the Top 8. Just outside the Top 10, the VW Passat (+27.7%) is a rare positive story for the brand, up 9 spots to #11, with the AITO M7 (+1624.2%) shooting up to #12, the Toyota Front Lander (+48.7%) up to #13 and the BYD Destroyer 05 (+163.6%) up to #14. The AITO M9 is the best-selling recent launch at #48 ahead of the Jetour Traveler at #57 and the Geely Boyue L at #63.
One year ago: China wholesales First Half 2023: BYD (+72%) now firm leader above VW (-5.1%)
Full H1 2024 Top 112 All brands and Top 662 All models below.
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