According to statistics, in the first three quarters of 2023, the number of cars sold in China reached 15.239 million units, an increase of 2.4% compared to the same period in 2022.
Especially, 2023 also witnessed strong growth in green car segments in the populous market, accounting for 34.1% of the total market sales.
Specifically, by the end of the third quarter of 2023, a total of 3.5 million electric cars and 1.678 million hybrid electric cars were delivered to consumers.
BYD is the best-selling car brand in China with nearly 1.8 million cars delivered in the first three quarters of 2023, an increase of 54.9% compared to the same period last year. The company’s market share also reached 11.76%.
In second place is Volkswagen with 1.56 million cars sold in the market, accounting for 10.25% market share. Toyota is the third-ranking car brand with sales of over 1.24 million cars in the past 9 months, accounting for 8.19% market share.
Honda is also a popular car brand in the Chinese market. Over the past 9 months, this Japanese car brand recorded sales of 828,000 cars.
Other Chinese car brands such as Changan, Geely, and Wuling also made it into the top 10 best-selling car brands in the populous market. However, the total sales of all three brands combined are less than 200,000 units, still lower than BYD’s sales.
BMW and Audi also made it into the top 10 best-selling car brands in China, but their sales figures were 515,194 and 457,627 cars respectively.
In the electric car segment, BYD remains the “king” with 893,754 cars sold, accounting for 30.15% market share. Following BYD is the “giant” Tesla with sales of 433,729 cars. Most of the best-selling electric cars are domestic Chinese brands.