According to data from the China Passenger Car Association (CPCA), global car sales in June 2023 reached 7.87 million units, which represents an 11% year-on-year (YoY) increase from June 2022. From that total, China accounted for 33% of global car sales in June 2023, supported by improved supply of semiconductor chips.
The world’s largest automotive market also reinforced its claim to the title in the first six months of the year, as Chinese car companies commanded a 31% share of the 42.43 million units sold globally – this is an 11% YoY increase from the same period last year.
Cui Dongshu, secretary-general of the CPCA, revealed that from 2016 to 2018, China’s vehicles accounted for about 30% of the world’s total car sales. This dropped to 29% in 2019, but rose again to around 32% in 2020 and 2021, and further still to 33% in 2022.
The top ten automakers in terms of global market share in the first half of 2023 include Toyota (12%), Volkswagen (9.6%), Hyundai/Kia (7.9%), Stellantis (7.3%), Renault/Nissan (6.7%), General Motors (6.5%), Ford (4.7%), Honda (4.3%), Suzuki (3.4%) and Mercedes-Benz (3.1%).
In China alone, Volkswagen leads the way with a market share of 10.2%, followed by BYD (9.5%), General Motors (7.3%), Changan (7.1%), Geely (6.2%), Toyota (6.1%), Chery (5.4%), SAIC (4.1%), Honda (3.9%) and Great Wall Motor (3.9%).
The post China accounted for 31% of global car sales in 1H 2023 – Volkswagen top charts in terms of market share appeared first on Paul Tan's Automotive News.
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