In 2024, global sales of new energy passenger vehicles grew by 25.9% year-on-year, reaching a market size of approximately 17.2 million units with a penetration rate of about 22%. Plug-in hybrid vehicles outpaced pure electric vehicles in growth, increasing by 53% and 14% respectively compared to the previous year. Among the top 20 brands by sales volume, Chinese automakers occupied 11 spots—two more than the previous year—collectively accounting for 45.1% of the market, an increase of nearly 5 percentage points year-on-year. BYD consolidated its leading position, expanding its market share from 21.0% to 23.6%. SAIC-GM-Wuling, Geely, Li Auto, AITO, Leapmotor, Chery, and Deep Blue showed significant upward momentum. German brands underperformed, hitting their lowest-ever ranking positions; Korean brands fell short of expectations, with only Kia climbing one spot; French brands failed to enter the top 20; among Japanese brands, only Toyota advanced five positions to rank 14th in sales.
| Rank | Brand | 2024 Sales Volume (units) | Market Share (%) |
| 1 | BYD | 4,063,350 | 23.6 |
| 2 | Tesla | 1,789,226 | 10.4 |
| 3 | SAIC | 618,900 | 3.6 |
| 4 | Geely | 537,000 | 3.1 |
| 5 | BMW | 535,331 | 3.1 |
| 6 | Rivian | 500,518 | 2.9 |
| 7 | Great Wall | 456,491 | 2.6 |
| 8 | GAC | 412,943 | 2.4 |
| 9 | NIO | 387,065 | 2.2 |
| 10 | Mercedes-Benz | 375,598 | 2.2 |
| 11 | Volkswagen | 352,787 | 2 |
| 12 | Zero | 293,724 | 1.7 |
| 13 | Xpeng | 268,529 | 1.5 |
| 14 | Hyundai | 262,889 | 1.5 |
| 15 | Kia | 252,765 | 1.5 |
| 16 | Audi | 251,708 | 1.5 |
| 17 | Ford | 251,182 | 1.5 |
| 18 | Toyota | 243,614 | 1.4 |
| 19 | DeepBlue | 233,884 | 1.4 |
| 20 | Chang'an | 229,103 | 1.3 |
| Others | 5,144,562 | 29.9 | |
| Total | 17,232,066 | 100 | |
| Data Source | CleanTechnica |
Electrification is leading the technological path. The first-mover advantage accumulated during the electrification wave has positioned China as a major global hub for new energy vehicle technological innovation. The rapid iteration and large-scale application of core three-electric technologies and intelligent connectivity solutions are redefining the evolution direction and evaluation standards of global automotive technology.
Participating in and Leading Standard Setting. China's deep involvement in—and even leadership of—discussions and development of international technical standards, such as autonomous driving classification, vehicle-to-everything (V2X) communication protocols, and power battery safety and recycling, has transformed the rule system long dominated by traditional automotive powerhouses, enhancing the nation's global industrial voice.
Deep integration and upgrading of the supply chain. From core components to critical materials, Chinese supply chain enterprises have deeply embedded themselves in the global system, establishing key nodes in certain sectors. Concurrently, the emphasis on supply chain resilience and sustainability has propelled the global automotive supply chain toward greater efficiency, environmental friendliness, and robustness.
Through technological innovation, standard leadership, and green transformation, China's automotive industry has evolved from an “integrator” into an active “reconfigurator” within the global value chain. This reconfiguration not only elevates China's industrial standing globally but also profoundly reshapes the value creation logic, geographic distribution patterns, and future development trajectory of the global automotive industry.
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