China's Geely Outperforms Mercedes-Benz and BMW, Enters Top Ten in 2024Q1 Globally

Geely's Unprecedented Jump to the Top 10

In a dramatic turn of events in the first quarter of this year, Zhejiang Geely Holding Group climbed into the top 10 best-selling global automakers list, adding almost 730,000 automobiles worldwide.

Breaking records and creating new ones

Geely's sales in the first quarter of the previous year were rated 12th globally. However, exceptional sales growth of 27% this year enabled them to surpass Germany's biggest car manufacturers, Mercedes-Benz and BMW, propelling them to tenth place.

An Overview of Global Statistics

Toyota's global sales fell 5% to 2.52 million vehicles, yet it remains the world's best-selling automaker. The Volkswagen Group finished second with a 3% sales rise, selling 2.1 million vehicles.

Chinese Automakers Make Significant Strides

Chinese automakers BYD, Changan Automobile, Chery Automobile, and SAIC Group have all made it into the global top 20. Despite fewer selling days owing to the Chinese New Year break, consolidated sales for the top five Chinese automakers increased by more than 20%.

The Brilliant Performance of Geely's EV Brand

Geely's main electric vehicle vertical, Zeekr, demonstrated its strength by doubling new energy vehicle sales year on year. Volvo Cars, a Geely brand, also increased sales by 12% year on year.

Export: The Secret Ingredient

Geely's strong sales growth is mostly driven by export markets, with a 43% year on year gain. China's new energy vehicle exports are expected to total 3.5 million vehicles by 2025. While the United States intends to raise import taxes on Chinese electric vehicles, Chinese automakers are boosting their shipments to Russia and Latin America.

With Geely's triumphal breakthrough into the top ten global automakers, the growing importance of Chinese automakers is undeniable, paving the way for an explosive future in the global car industry.