Amazing! The 2024 Greater Bay Area Auto Show Witnessed over ¥100 Billion Transactions

^{On June 9th , the same day of China’s National College Entrance Examination concluded, the 2024 Greater Bay Area Auto Show came to a successful close. The exhibition saw over 100 billion yuan in transactions and attracted more than 860,000 visitors. As you know, Beijing Auto Show, which ended just one month earlier, attracted 890,000 visitors, 2024 Greater Bay Area Auto Show actually did a good job.}

According to the data unveiled by Shenzhen News Net, the 9-day event featured around 200 companies and organizations from the automotive industry, including 107 vehicle brands, and showcased 1,036 models. There are also over 50 brand launch events took place, 40,026 vehicles sold, reflecting the vibrancy of China's auto market.

Contrastingly, European auto shows are witnessing a dip. On June 2nd, we got the news that the 119-year-old Geneva Auto Show announced its cessation. These shifts reflect the global ascent of China's automotive industry.

Why is China auto show market so flourishing? What happened?

Over the past five years, China’s car industry saw a tremendous changes. As far as we see, there are three factors. First of all, the new forces NEV car makers are emerging and gaining quite good market share across the world. Secondly, the technology of the China’s automotive giants such as BYD, Changan, Geely, Chery, and Great Wall are keeping leading the way. Finally, the development of new energy vehicles required dense industrial chain, which are emerging fast across China main automotive cities.