The China Passenger Car Association (CPCA) has released data revealing a continued recovery in China’s auto market in December 2023, as new car sales surged to 2.353 million units. This marks a noteworthy 13.1% increase month-on-month and an 8.4% rise year-on-year. A key factor contributing to this spike in sales has been the substantial price discounts many automakers offer during the month to meet annual targets. The discount range has notably surpassed last year’s figures.
New energy vehicles (NEVs) have played a pivotal role in this market resurgence, witnessing steady growth. Electric vehicles (EVs) reached sales of 598,000 units, and plug-in hybrid electric vehicles (PHEVs) reached 347,000 units, collectively constituting 40.2% of the total vehicle sales.
Note: The sales data in this article come from CPCA: CPCA’s statistical basis is the retail sales of passenger cars produced in China. Sales data do not include imported cars and commercial models. Brand sales do not include sub-brands.
Market Dominance and Brand Rankings
Chinese automaker BYD led the charge, which achieved sales of 281,607 vehicles in December 2023, reflecting a significant year-on-year increase of 29.4%. BYD maintains its stronghold as China’s top auto brand by sales for the 11th consecutive month, securing a noteworthy market share of 11.97%.
Volkswagen secured the second spot with sales of 207,423 vehicles, witnessing a year-on-year increase of 31.2%. Despite clinching the sales championship in January 2023, Volkswagen settled for the second position for 11 months.
Toyota held its third position, with sales totaling 161,561 units. However, it witnessed a year-on-year decrease of 20.3%, securing a market share of 6.81%.
Honda and Wuling rounded out the top five, selling 127,868 and 99,763 vehicles, respectively.
BYD’s prowess extends to the new energy vehicle (NEV) sector, where it dominates both electric cars and plug-in hybrid vehicles. BYD commands a remarkable 25% market share in China’s electric vehicle market. The brand’s dominance is even more pronounced in the PHEV category, capturing 37% of the market in December.
Pure Electric Vehicle Market
In the pure electric vehicle market, BYD continues to lead, with sales totaling 151,037 vehicles and a commanding market share of 25.26%. Tesla secured the second position with sales of 75,805 cars, reflecting an impressive 80% increase compared to last year, propelling it into the top 10 car brand sales rankings.
In the electric vehicle sales rankings, Wuling, Aion, and Volkswagen secured third, fourth, and fifth positions, respectively.
Top Individual Models
The top three vehicles in the Chinese market for December 2023 were:
- Tesla Model Y: Impressive sales figure of 60,055 cars.
- Nissan Sylphy: Second position, with 48,385 units sold.
- BYD Song Plus: Claiming the third position, with 44,370 vehicles sold.
