2024 has been a big year so far for Chinese carmakers, BYD and Geely. As reported by Motor1.com, the two manufacturers have entered the top 10 global car sales ranking as of September 2024.
According to the report, BYD almost made it into the top five while Toyota comfortably sits atop the charts while the Volkswagen Group follows in second.
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The BYD expansion has not been exclusive to the Philippines. Dealers and showrooms have opened all over the world, most especially in the South American and East Asian markets. And while it looks like Geely has slowed down some in the Philippines, globally, the brand has rapidly been expanding.
By September 2024, BYD had increased its sales volume by 38% as compared to its numbers from the previous year. Geely had done the same with a 20% increase. While the actual sales figures look a bit far from that of the worldwide juggernauts like Toyota Motor Company and the Volkswagen Group, the rate of growth is telling of the world’s acceptance and excitement for these brands.
It’s also worth noting that those the aforementioned juggernauts and the rest of the top five have actually recorded lower sales numbers in 2024 than in 2023. With Toyota at -4% and Volkswagen Group at -7%.
The American-based car companies suffered the biggest sales drops. In 2024, Stellantis, which holds several brands like Jeep, Alfa Romero, and Maserati, announced several global layoffs and factory shutdowns. General Motors has also laid off hundreds of employees in several of its factories worldwide.
It wouldn’t be surprising to see BYD in the top five next year, and perhaps even another up-and-coming Chinese brand take another top 10 spot.
