Chinese Passenger Cars Outsell Japanese in Europe for First Time in May

In May 2024, Chinese passenger car brands outsold Japanese brands for the first time in 31 major European countries. According to data from the European Automobile Manufacturers' Association (ACEA), combined sales of five Chinese automakers—BYD, SAIC, Geely, Chery, and Leapmotor—reached 138,410 units that month, a 65% year-on-year increase. In contrast, combined sales of six Japanese automakers—Toyota, Nissan, Suzuki, Mazda, Honda, and Mitsubishi—totaled 130,424 units, down 3% year-on-year, making Chinese brands’ sales 6% higher than those of Japanese brands. Starting in April 2024, ACEA expanded its reporting scope to include three Chinese automakers, including Geely, and began attributing Volvo’s sales to its parent company, Geely. As of April 2024, cumulative sales by Japanese automakers in Europe stood at 127,064 units, slightly ahead of Chinese brands’ 125,864 units—a narrow 1% margin. Additionally, BYD sold 789,367 passenger vehicles overseas from January to June 2024, a 70% year-on-year increase. In June alone, overseas sales accounted for 44% of BYD’s global passenger vehicle sales, up 20 percentage points compared to the same period last year.