China wholesales August 2024: BYD, Jetour, Leapmotor break records, Seagull #1

Jetour sales are up 109.1% year-on-year in August.

According to data by the China Association of Automobile Manufacturers (CAAM), new wholesales in China drop -5.5% year-on-year in August to 2,453,000 units. This includes 2,181,000 Passenger Vehicles (-4%) and 272,000 Commercial Vehicles (-12.2%). The year-to-date tally is up 3% to 18,766,000 with Passenger Vehicles up 3.3% to 16,157,000 and Commercial Vehicles up 1.6% to 2,608,000. New Energy Vehicles continue to power ahead with a 30% year-on-year surge in August to 1,100,000 units including 646,000 BEVs (+8.3%) and 453,000 PHEVs (+81.6%). Over the first 8 months of the year, NEVs are up 30.9% to 7,037,000 with BEVs up 9.7% to 4,216,000 and PHEVs up 84.2% to 2,817,000. 990,000 NEVs were sold nationally in August (+30.9%) and 110.000 exported (+22%).

Although August sales are depressed, potentially due to factors such as recent high temperatures and heavy rainfall, there are elements in place to ensure the Chinese market remains buoyant until the end of the year at least. The The subsidies for vehicle scrappage and renewal issued by the National Development and Reform Commission and the Ministry of Finance in late July have been increased. As a result daily applications exceeded 10,000 in August and should progress further in the next couple of months. Separately, provinces and cities have also introduced replacement and upgrade policies, and this should all combine for a sunny autumn of sales in China. 

The BYD Seagull is the best-selling vehicle in China in August.

Exports are up 25.4% year-on-year to 511,000 including 438,000 Passenger Vehicles (+25.6%) and 74,000 Commercial Vehicles (+24.7%). Year-to-date exports are up 28.3% to 3,773,000 including 3,176,000 Passenger Vehicles (+29.4%) and 597,000 Commercial Vehicles (+22.8%).

Over in the brands ranking, BYD (+55.6%) posts an even better year-on-year gain than last month (+36.2%) and absolutely smashes its monthly volume record at 358,000 units with its previous best, achieved just last month, being less than 300,000 wholesales. BYD is boosted by the Destroyer 05 (+140.6%) as well as a host of tremendously successful recent launches such as the Seagull (record 46,830 sales), Seal 06 (record 32,903), Qin L (record 35,957), Yuan UP (record 19,344) and Song L (record 17,772). For the second month in a row, Volkswagen (-12.2%) sells less than half of BYD, despite strong performances by the ID.4 X (+122.8%), Tayron (+56.8%), Passat (+21.8%), ID.3 (+18.6%) and ID.4 Crozz (+15.7%).

Leapmotor smashes its monthly volume record once again.

Toyota (-13.2%) skids also, whereas Geely (+5.9%) and more strikingly Wuling (+33%) post encouraging lifts. Tesla (-1.9%) is back up six spots on July to #6 but is in slight negative, as it is also the case year-to-date (-0.6%). Honda (-44.2%), Changan (-27.4%) and Mercedes (-14.9%) all struggle in the remainder of the Top 10 but Chery (+28.8%) is in excellent shape. Another very satisfying month for LI Auto (+37.8%) even though it falls outside the Top 10 at #11. Jetour (+109.1%) breaks its volume record (37,207) and slides into the Top 15 for the first time at #14. AITO (+940.5%) continues to stun just as Leapmotor (+97.4%) doubles its sales year-on-year to reach an all-time high 28,005 sales. Inside the Top 25, Zeekr (+46.4%) and Lynk & Co (+19.7%) shine. Finally, notice Chevrolet down -84.4%, Buick at -60%, Cadillac off -59.4%, Haval at -43.5%, BMW at -42%, Ford at -26.9% and Volvo at -22.9%.

Looking at the models ranking in isolation, the BYD Seagull (+34.4%) scores its first ever monthly win, distancing the Tesla Model Y (-11.3%). Like last month BYD places five models in the Top 6 with the Qin Plus (+7.4%), Song Plus (+21.2%), the new Qin L and Seal 06 in tow. The VW Lavida (-15.8%) resists somewhat at #7 ahead of the BYD Yuan Plus (+11.4%) down two spots on July to #8. The Wuling Hongguang Mini EV (+67%) makes a spectacular return inside the Top 10, up 13 ranks on last month to #9. The LI L6 is off three spots to #10 but still manages to break its monthly volume record at 24,897.

Previous month: China wholesales July 2024: BYD doubles VW sales, places 5 models in Top 6

One year ago: China wholesales August 2023: Market up 8.4% to new record, Seagull (#3) lifts BYD to new heights

Full August 2024 Top 97 All brands and Top 551 All models below.