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According to Cui Dongshu, Secretary General of the CPCA, Chinese automakers performed well in the global market in March 2024, selling an estimated 190,000 units, a 38% rise year on year. Estimates for the first quarter are 470,000 units sold, a 40% increase over the previous year.

Leading players dominate the market.

The primary drivers of this growth are big Chinese automakers such as SAIC, BYD, Great Wall, Geely, Chery, and Changan. Their overseas sales performances have exhibited a steady upward trend, notably SAIC's recent excellent abroad performance.

New energy vehicles are stealing the spotlight.

The new energy vehicle brands, which are the focus of Chinese auto exports, have a good future, with BYD, SAIC MG, Geely, and Great Wall leading the way.

Market Performance in Various Regions

In 2024, prominent automakers such as SAIC did exceptionally well in target areas such as the United Kingdom, Australia, Mexico, and Italy. On the other side, Chery Auto and Great Wall perform extraordinarily well in Russia, Brazil, Turkey, South Africa, and a few other regions.

Positive market momentum continues.

The reassuring global performance of Chinese auto manufacturers, as indicated by robust export data, suggests that Chinese new energy vehicles are gaining international traction. Notable markets such as Thailand, Brazil, Australia, and other main markets have seen outstanding sales performance from Chinese automakers. SAIC, Geely, and BYD have performed particularly well in the Scandinavian markets.

Promising Performance by Emerging Force Enterprises

New force automakers have also performed admirably in select areas, most notably the Netherlands and Norway. The strong presence of these enterprises in Europe, along with significant market penetration, reflects the successful progress that Chinese automakers have made in foreign markets.

Long-Term Outlook

Experts predict that Chinese automakers will continue to expand their international markets, driven by both traditional and new energy vehicle segments. The good performance in 2024 presents a promising picture for China's auto sector to continue its amazing rise in the global market and secure its place as a leading global vehicle maker.