Business
Chinese Car Sales Surge to 33% of Global Market in March 2024
The global automotive industry witnessed a significant surge in Chinese car sales in March 2024, with China accounting for 33% of the world’s monthly 8.15 million vehicle sales.
This revelation comes from Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), highlighting China’s growing influence in the automotive sector.
The uptick in Chinese car sales contributed to a buoyant first quarter for the global automotive industry, with a total of 21.05 million vehicles sold worldwide, marking a year-on-year increase of 3%.
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China’s growing presence in the international automotive market is reinforced by its steady ascent in global market share, reaching 33% in 2022.
Despite China’s formidable presence, global automaker sales rankings for 2024 saw Toyota clinch the top spot with a commanding market share of 10.6%.
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