China ranks third in automobile gross sales, surpassing the US… “Efficiently concentrating on rising markets such because the Center East”

by times news cr

2024-06-21 03:24:45

Final yr, 17.9% of autos bought globally had been made in China.
America’s first overtake… Gross sales quantity elevated by 23% in a single yr
Japan ranked 1st with 29.1% – Korea ranked fifth with 8.5%

China surpassed america for the primary time in car gross sales and ranked third on this planet. Of the automobiles bought final yr, 17.9% had been made by Chinese language producers, together with BYD, forward of america (15.2%).

In line with a report lately launched by Jato Dynamics, a worldwide car trade market analysis agency, international gross sales of Chinese language cars final yr totaled 13.4 million models. The US, which ranked fourth after China, bought 11.9 million models. That is the primary time that gross sales quantity of Chinese language corporations has surpassed that of america.

China’s international car gross sales elevated sharply final yr. China bought 23% extra final yr in comparison with 2022, however gross sales in america elevated solely 9% throughout the identical interval. Jato Dynamics analyzed that “Chinese language producers have achieved success by concentrating on the Center East, Russia, and Africa.” As China’s home market reached a saturation level and commerce measures concentrating on Chinese language automobiles had been launched within the US and Europe, Chinese language corporations are believed to have turned their consideration to rising markets.

Japan nonetheless maintained its place as a robust energy. Final yr, Japanese producers equivalent to Toyota and Honda bought a complete of 23.59 million models worldwide. It ranked first with a market share of 29.1%. 2nd place in total gross sales was Europe (24.9%), and fifth place was Korea (8.5%).


Reporter Lee Ji-yoon [email protected]

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2024-06-21 03:24:45

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