According to recent data from Cui Dongshu, Secretary General of CPCA (the China Passenger Car Association), world car sales in June 2023 reached 7.87 million units, representing an 11% increase compared to the previous year. From January to June 2023, global car sales amounted to 42.43 million units, showing an 11% year-on-year increase. The improved supply of chips has positively impacted the world’s auto industry, leading to increased sales for international auto companies. Notably, in the first half of 2023, Chinese car companies accounted for a substantial 31% share of the global car market.
Looking at the global perspective, China’s auto market experienced a gradual recovery in June, accounting for 33% of the world’s auto market. Prominent recovery effects were observed in Chinese car companies like BYD and SAIC, while Asian groups represented by Toyota and Suzuki-Kia also improved their performance. Unlike other regions affected by the international chip shortage, the Chinese auto market fared well and even saw strong performance in auto exports. China capitalized on the significant gap between international supply and demand, presenting rare development opportunities. As the automotive chip industry is highly monopolized, this supply-side tightening brought opportunities for China’s supply chain to rise.
While the global car sales in June 2023 increased by 11% year-on-year, it is worth noting that this figure is slightly lower than that of June 2018 by 4%. However, it remains at a mid-to-high level compared to the previous years. The sales volume of automobiles in significant countries worldwide saw a continuous decline from 2018 to 2020. However, in 2021, there was a 4% year-on-year increase, showing good recovery performance after the pandemic. Yet, in 2022, the sales volume slightly decreased by 1%, indicating only a marginal improvement over the 2020 sales volume.
For the first half of 2023, global auto sales reached 42.43 million units, exhibiting an 11% year-on-year increase. Although this indicates a positive trend, there is still a considerable 11% gap from the sales levels in previous years. However, the situation has shown improvement from January to June 2023 compared to the same period in 2019-2022, with June performing better, primarily due to factors such as production recovery.
Among them, the Chinese market occupies a large proportion of the global market. From 2016 to 2018, China’s automobiles accounted for about 30% of the world’s total. In 2019, this dropped to 29%, but it still maintained an absolute advantage. In 2020-2021, China’s national share rose to 32%; in 2022, it further increased to 33%. As of 2023, China’s share dropped slightly to 31%, which can be attributed to factors such as the Spring Festival’s impact on the Chinese market and the withdrawal of preferential car purchase tax policies. While the market shares in North America and Europe have fully recovered, the market trend in the southern hemisphere remains weak.
According to CPCA, the top 10 automakers in global auto sales in the first half of 2023 are Toyota, Volkswagen, Hyundai-Kia, Stellantis, Renault-Nissan, GM, Ford, Honda, Suzuki, and Mercedes-Benz. However, specific quantity data is not provided, only market share. China’s largest automaker, BYD, ranks 11th in the world.
Turning our focus to the Chinese market, CPCA’s statistics and calculations indicate that the top 10 automakers in terms of auto sales in the first half of 2023 are Volkswagen, BYD, GM, Changan, Geely, Toyota, Chery, SAIC, Honda, and Great Wall.
Source: CPCA
