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2024-11-09 Update From: AutoBeta NAV: AutoBeta > News >
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AutoBeta(AutoBeta.net)10/03 Report--
According to the Federation of passengers, global car sales in August 2024 were 7.16 million, down 3% from the same period last year, of which Chinese cars accounted for 34% of the global market, up 3 percentage points from July 2024. From a worldwide point of view, the recovery of China's automobile market in 2024 is strong, and the rebounding effect of Chinese car companies such as BYD, Chery, Geely and Changan Automobile is the most outstanding, while the performance of Asian groups represented by Toyota and Kia is still poor.
With new energy vehicles, BYD's sales are once again ahead of schedule, ranking second in the world after Toyota. In August 2024, BYD ranked second in the world with sales of 385100 vehicles, second only to Toyota and ahead of traditional auto giants such as Volkswagen, Honda and Ford, according to a sales list released by BYD. For comparison, Toyota sold 656700 vehicles worldwide in August 2024, about 270000 more than BYD, so BYD still has a long way to go to become the number one manufacturer in the world, while Volkswagen, which ranks third, sold 375900 vehicles that month. although there is a significant increase from 346200 in July 2024, an increase of about 8.6% month-on-month, it is eroded by new energy vehicles. The growth potential of Volkswagen fuel cars is obviously insufficient, and it is expected to be overtaken by BYD. It is worth mentioning that according to the latest data released by BYD, its sales reached 419000 in September 2024, of which 418000 passenger cars were sold, an increase of 45.6% over the same period last year. It may not be a big dream to overtake Toyota one day.
By the end of September 2024, BYD's cumulative car sales were 2.7479 million, an increase of 32.13% over the same period last year, while BYD's sales target for 2024 was 3.6 million. In the next three months, BYD's monthly sales target will reach 300000. You can successfully achieve the sales target of 3.6 million vehicles, and according to the current market trend, the fourth quarter is the key for the automobile industry to impact sales. So there is a good chance that BYD will hit a new high in the next three months, so 4 million vehicles may not be a problem for BYD, just need to maintain an average monthly sales of 420000 vehicles.
At the 2024 Chengdu Auto Show, BYD official announced the new dynasty IP "Xia", and the first medium-and large-scale MPV "Xia" debuted. This new car is the sixth product line named after the Qin, Han, Tang, Song and Yuan dynasties. It is expected to sell for more than 300000 yuan. It competes with Wei Brand Gaoshan and Lantu Dreamers and other MPV. Once the new car is released, its booth is also packed.
On Sept. 23, two new BYD cars, the Haishi 05 DM-i and the second-generation Song Pro DM-i, launched four models at the same price, with a price range of 11.28-142800 yuan. It is understood that Haishi 05 DM-i and Song Pro DM-i are located in the compact SUV, the power is equipped with 1.5L plug-in hybrid power, equipped with BYD's latest DM5.0 plug-in hybrid technology, the two cars will be sold in Ocean Network and Dynasty Network respectively after they are on the market.
With the exception of BYD, no other Chinese manufacturers made it into the top 10. Wuling ranked 19th with 82400 vehicles in the top 20, while Chery and Geely, which were on the list in July 2024, fell out of the list in August 2024.
In contrast, the market position of other large automakers has begun to waver in the context of traditional fuel cars that are not easy to sell. In June 2024, BYD ranked fifth with sales of 277500 vehicles, behind Toyota, Volkswagen, Ford and Honda, and by July 2024, sales of these big carmakers all declined, including Volkswagen by about 40, 000 and Ford by about 25000. BYD grew by about 30, 000. In August 2024, after the introduction of a stronger sales strategy, the sales of the major automakers rebounded to varying degrees, but compared with BYD, there is still a lack of momentum for strong growth. this is also the reason why the BYD brand has overtaken Volkswagen to become the second place in the world.
Although the above-mentioned global automakers are also accelerating the electrification of their products, they have achieved little success, especially in the world's largest new energy vehicle market, where the performance of these brands of new energy vehicles is indescribable. Volkswagen brand new energy vehicles have a considerable performance, but it is still difficult to compete with mainstream Chinese manufacturers. In this context, Volkswagen has to continue to launch fuel vehicles, including Tuyue Xinrui, Passat pro, new Maiteng, Tuguan L PRO and so on, while accelerating the electrified transformation.
However, global automakers still have a strong market position, and BYD still has a long way to go to become one of the top three automakers in the world. In terms of global auto sales rankings, BYD ranks sixth with 2.2122 million vehicles, accounting for 4.2% of the global auto market, lower than Toyota, Volkswagen, Ford, Honda and Hyundai. Among them, BYD has overtaken Suzuki and Nissan on the basis of July before 2024, and the next goal is Hyundai, which is expected to become one of the top five auto companies in the world this year. In this case, BYD only has Toyota, Volkswagen, Ford and Honda.
Toyota's overall performance is still strong, with a cumulative sales of 5.4102 million vehicles in the first eight months of 2024, a strong performance in North America and a pullback in the Chinese market, after BYD and other new energy manufacturers launched low-price and high-quality products on a large scale. The performance of the Volkswagen brand is relatively weak, with a cumulative sales of 3.1241 million vehicles in the first eight months of 2024, mainly due to the pressure on Chinese cars, which launched a number of new models or replacement models in China during the year, but it is unclear whether it can change the market trend. Honda has also fallen sharply this year, with the Chinese market underperforming. German Mercedes-Benz and BMW Group performed smoothly, and the pressure on the Chinese market of traditional luxury cars increased. Due to changes in consumer demand, the demand for luxury cars shifted to independent high-end.
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