BYD’s July Global Sales Leap: Insights into China’s Auto Market
Despite its high ranking in July, BYD only ranked eighth in cumulative sales from January to July this year. It is important to note that these figures refer to the brand rather than the entire group.
BYD became the third best-selling automotive brand globally in July 2024. In July, BYD’s sales were nearly half of Toyota’s, which ranked first, and over 30,000 units behind Volkswagen, which ranked second. Despite its high ranking in July, BYD only ranked eighth in cumulative sales from January to July this year. It is important to note that these figures refer to the brand rather than the entire group.
| 1 | Toyota | 651,200 |
| 2 | Volkswagen | 346,200 |
| 3 | BYD | 315,600 |
| 4 | Honda | 280,800 |
| 5 | Ford | 265,400 |
| 6 | Hyundai | 245,900 |
| 7 | Suzuki | 228,400 |
| 8 | Nissan | 218,300 |
| 9 | Kia | 199,000 |
| 10 | Chevrolet | 198,600 |
| 11 | Mercedes Benz | 139,700 |
| 12 | BMW | 139,400 |
| 13 | Tesla | 112,400 |
| 14 | Audi | 111,000 |
| 15 | Mazda | 94,200 |
| 16 | Fiat | 72,600 |
| 17 | Subaru | 72,200 |
| 18 | Chery | 71,100 |
| 19 | Jeep | 64,100 |
| 20 | Geely | 63,800 |
Top 20 best-selling brands in July 2024
In July, BYD sold 315,600 vehicles, compared to Toyota’s 651,200 and Volkswagen’s 346,200. No other Chinese brand managed to break into the top ten; however, Chery ranked eighteenth with sales of 71,100, and Geely ranked twentieth with sales of 63,800.
| 1 | Toyota | 4,594,000 |
| 2 | Volkswagen | 2,613,600 |
| 3 | Honda | 2,078,200 |
| 4 | Ford | 2,037,300 |
| 5 | Hyundai | 1,879,900 |
| 6 | Suzuki | 1,770,500 |
| 7 | Nissan | 1,721,700 |
| 8 | BYD | 1,714,100 |
| 9 | Kia | 1,484,000 |
| 10 | Chevrolet | 1,407,800 |
| 11 | BMW | 1,133,400 |
| 12 | Mercedes Benz | 1,068,400 |
| 13 | Tesla | 915,100 |
| 14 | Audi | 882,500 |
| 15 | Renault | 719,000 |
| 16 | Mazda | 665,700 |
| 17 | Fiat | 635,100 |
| 18 | Geely | 577,700 |
| 19 | Jeep | 538,100 |
| 20 | Peugeot | 533,600 |
Top 20 best-selling brands January to July 2024
The sales picture for the year to date is significantly different. Despite its strong performance in July, BYD only secured the eighth place from January to July, with sales of 1,714,100. Geely’s sales were considerably lower, at 577,700, placing the brand eighteenth overall. Once again, Toyota and Volkswagen held the first and second positions, respectively, with Honda coming in third for the year to date.
Chinese car sales are typically more concentrated in the second half of the year, and it will be interesting to see if the overall rankings of Chinese brands will rise by December. This data, however, indicates that despite the strength of the Chinese car market, it remains relatively fragmented, and aside from BYD, there is not yet a brand that can truly make a mark on the global stage. If Chinese cars are indeed going to dominate the world market, we should expect to see at least one or two other brands in the top ten in addition to BYD.
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