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Nikkei: Geely Group breaks into global Top 10 in auto sales for 1Q 2024

The Nikkei reported that the Zhejiang Geely Holding Group sold 730,000 vehicles in the January-March period to become the first Chinese carmaker to break into the global top 10 in auto sales for the quarter.

Geely, which had placed 12th in the first quarter of 2023, passed the Mercedes-Benz Group and BMW to come in 10th with sales volume climbing 27% on the year.

Chinese automakers BYD, Changan Automobile, Chery Automobile and SAIC Motor ranked in the top 20. The global sales rankings were compiled from company disclosures and data from survey firm MarkLines.

In the first quarter of 2024, the five Chinese players in the top 20 saw combined sales volume surge more than 20%. Overall sales growth for the top 20 carmakers came to 2%.

Geely Auto’s core EV brand Zeekr performed well, with sales of new energy vehicles more than doubling. Volvo Car, also under the Geely group umbrella, increased sales by 12%.

BYD sold 620,000 vehicles in the first quarter, up 13%, with EVs accounting for 300,000 vehicles—trailing Tesla's 380,000.

Geely group’s overseas sales soared 43%. BYD stepped up exports to Europe and Southeast Asia, with overseas sales growing 150% to 98,000 vehicles.

EVs and electrified vehicles such as plug-in hybrids accounted for more than 32% of January-March sales in China.

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