Passenger Vehicle Sales and Production Report in Oct 2024
In Oct 2024, the production and sales volumes reached 2.648M and 2.732M units, respectively, indicating continued market growth. Over the first ten months, cumulative production saw a 3% increase, while cumulative sales rose by 4%.
China brands wholesaled 1.9M units (+13% MoM), EU-US brands 514K units (-1% MoM), and J-K brands 316K units (+5% MoM). As of Oct, China brands grew 21% YoY, while foreign brands declined 17% YoY.
In Oct, among the top 20 brands, BYD sold 483.4k (+20% MoM), ranking first; Tesla dropped 23% MoM, ranking tenth; Mercedes-Benz fell 19%.
In 2024, among the top 20 brands, BYD grew 36% YoY, exceeding 3M units. Volkswagen and Toyota declined 10% and 17%, respectively. Tesla's cumulative sales reached 744k, down 4% YoY.
In Oct, ICE sales reached 1.357M (+7% MoM), PHEV/EREV sales hit 592K (+16% MoM), and BEV sales totaled 782K (+9% MoM). Over the first ten months, ICE sales declined 12% YoY, while PHEV/EREV and BEV grew 86% and 13%, respectively.
Top 10 brands by monthly sales by energy type
Top 10 brands by cumulative sales by energy type
In Oct, SUV sales hit 1.49M (+10% MoM); sedan sales were 1.135M (+9% MoM); MPV sales were 102K (+8% MoM). Over the first ten months, sedan sales declined 1% and MPV sales fell 8%, while SUV sales grew 9%.
Top 10 models by monthly sales by body type
Top 10 models by cumulative sales by body type
