Top 10 retail bestselling brands in China, March 2024

In March this year, BYD continued to maintain its leading position as the bestselling brand in retail sales with 260,300 vehicles sold. Three other independent Chinese brands including Geely, Changan, and Chery made it to the top ten list.

Furthermore, in March, 1.690 million passenger vehicles were sold in China, a year-on-year increase of 6.2% and a month-on-month increase of 53.1%, contributing to a total of 4.829 million vehicles sold in the first quarter, a year-on-year increase of 13.1%, according to the China Passenger Car Association (CPCA). Among them, the sales volume of sedans was 780,000 units, a year-on-year increase of 2.4%; MPVs were 94,000 units, a year-on-year decrease of 5.6%; and SUVs were 816,000 units, a year-on-year increase of 11.8%.

Additionally, in the new energy vehicle (NEV) market, 709,000 NEVs were sold in March, a year-on-year increase of 29.5% and a month-on-month increase of 82.5%. At the same time, 120,000 NEVs were exported, a year-on-year increase of 70.9% and a month-on-month increase of 52.8%.

In March, the BYD Qin Plus DM-i was the bestselling NEV sedan, coming in at 50,394 units. The Tesla Model Y was the bestselling NEV SUV, with 47,917 units sold. The Denza D9 was the bestselling NEV MPV, with 10,036 units sold.

It is also worth pointing out that the NEV penetration rate in the Chinese market reached 41.6% in March, in which the penetration rate among the independent Chinese brands was 63.3% while the penetration rate among the joint venture brands was only 7.4%.

CPCA, DongCheDi, YiChe, AskCI