China wholesales April 2024: BYD monopolises podium, places 7 models in Top 10, outsells VW by 104,000 units

First Top 10 finish for the BYD Destroyer 05.

According to data by the China Association of Automobile Manufacturers (CAAM), the Chinese wholesales market is up 9.3% year-on-year to 2,359,000 units. This includes 2,002,000 Passenger Vehicles (+10.5%) and 357,000 Commercial Vehicles. Year-to-date, volumes are up 10.2% to 9,079,000 with Passenger Vehicles up 10.6% to 7,689,000 and Commercial Vehicles up 8.1% to 1,390,000. Production is up 12.8% for the month to 2,406,000 and up 7.9% YTD to 9,012,000. Despite the lukewarm economic conditions in the country, the Chinese car market continues to be very dynamic. This is helped by numerous carmaker and consumer subsidies. Recently, the government issued detailed new rules for subsidies on trading of old vehicles for new ones and continues to support the development of NEVs and ICE vehicles. The People’s Bank of China and the National Financial Regulatory Administration adjusted policies related to automobile loans in order to reduce the threshold for automobile ownership. Local governments are also very active in supporting the market’s growth with incentives.

850,000 NEVs were sold in April, a 33.5% year-on-year gain leading to aa year-to-date tally up 32.3% to 2,940,000. Among these, BEVs are up 11.1% to 519,000 for the month and up 12.8% to 1,824,000 YTD while PHEVs soar 95.7% to 331,000 in April and 84.5% to 1,115,000 YTD. So far this year, 2,520,000 NEVs have been sold in China (+34.4%) and 421,000 exported (+20.8%). Exports climb 34% year-on-year in April to 504,000 and 33.4% YTD to 1,827,000.

The AITO M9 shoots up to #13 for its third month in market.

The trend atop the brands ranking intensifies this month with BYD (+30.7%) outselling Volkswagen (-21.8%) by a record 104,000 units! Keep in mind in March BYD was 86,000 sales above VW, a record at the time. BYD sales are helped by the e2 (+895.2%), Destroyer 05 (+296.7%), Song Pro (+166.9%), Han (+39.6%) and the new Seagull, Yuan Up and Song L. As for Volkswagen, it is hit hard despite solid performances by the ID.4 Cross (+127.1%), ID.3 (+70.4%), Touran (+29.9%) and CC (+19%). Strikingly, all remaining foreign OEMs in the Top 40 bar Audi (+0.8%) are in negative. Toyota (-31.7%), Honda (-18.6%), BMW (-7.9%) and Nissan (-8.6%) manage a spot in the Top 10. Tesla is off -21.4% at #14. In contrast AITO (+928.8%), Jetour (+137.1%), NIO (+134.6%), Zeekr (+98.6%), Leapmotor (+72%) and TANK (+67.5%) all sport fantastic gains. Note Haval (-40.3%) freefalling to #21.

Looking at the models ranking in isolation, BYD monopolises the podium as it did one year ago. The Qin Plus (+15.9%) increases the gap with the rest of the market to 15,000 sales above the Song Plus (+29.4%). The new Seagull is up two spots on March to #3. The Tesla Model Y (-1.5%) is the best of the rest at #4  but edges down year-on-year. It stays #2 year-to-date. The Nissan Sylphy (-10%) and VW Lavida (-20.4%) struggle mightily while BYD places no less than 7 models in the Top 10! Add the Yuan Plus (-19.4%) at #6, the Song Pro (+166.9%) at #7, the Han (+39.6%) at #9 and the Destroyer 05 (+296.7%) at #10, passing the 20,000 monthly sales barrier for the first time. Notice also the AITO M9 up 83 spots on March to #13 with over 15,000 sales for its third month in market, while its smaller sibling the M7 (+1019.1%) is down to #45. We welcome the much anticipated Xiaomi SU7 at #63 with over 7,000 sales.

Previous month: China wholesales March 2024: BYD outsells Volkswagen by a record 86,000 units

One year ago: China wholesales April 2023: BYD monopolises podium, market up 82.7% on Covid-impacted year-ago volumes

Full April 2024 Top 98 All brands and Top 522 All models below.