Cookies are employed by Autovista24 to enhance your browsing experience.
China's Electric Vehicle Market Surges in October 2024
The Chinese electric vehicle (EV) market experienced a significant boost in October 2024, with over 1.23 million registrations, marking a 37.8% year-on-year increase. This growth was reflected across various automobile brands, as the country's EV market continues to expand.
In the year-to-date table, BYD maintained its leading position, delivering around 2.76 million EV units, a 28% increase from the same period in 2023. BYD's dominance in the domestic market was particularly evident in October 2024, with 426,945 deliveries, a 57.4% year-on-year improvement.
Tesla, the US carmaker, held onto the second position with 502,151 units, a 7% increase from the first 10 months of 2023. However, October 2024 saw Tesla's performance dip slightly, with 40,595 units - the company's worst month since April 2024. This decline was primarily due to the Model Y, which saw a decrease in deliveries. Tesla's market share has also decreased from 7.5% to 5.8% in the first 10 months of 2024.
Li Auto, another significant player, claimed the fourth spot with 393,728 units, a 38.3% rise compared to the first 10 months of last year. Li Auto's market share remains steady at 4.6%. In October 2024, Li Auto was in third place in the Chinese market, with 51,443 deliveries.
Leapmotor, a Chinese automaker, showed impressive growth, moving up to seventh place with 205,817 registrations in the first 10 months of 2024, a 90.5% improvement compared to the same period last year. Leapmotor accounted for 2.4% of deliveries from January to October, an improvement of 0.7pp year-on-year. In October 2024, Leapmotor was in fifth position, with 36,086 units, a 98.2% improvement compared to the same month last year.
Chery, another Chinese automaker, took an 2.3% share in the year-to-date, an increase of 1pp. Aito, another newcomer, has had a notable year so far, with 324,310 registrations, a 501.9% increase from the same point in 2023. Aito's 3.8% market share is up from the 0.9% it achieved last year.
The EV market in China is made up of battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs). The BEV market led the increase in volume, while the PHEV sector enjoyed the best delivery growth. Wuling, a Chinese automaker, is in third place across the first 10 months of 2024 with 446,752 units, a 40% increase from the same time last year. Wuling's 5.2% EV market share is up 0.1 percentage point from 2023.
At the bottom end of the table, Changan's market share has slipped to 2.1%, from the 2.6% recorded between January and October 2023. Changan is in tenth position with 183,578 units, a 14.3% higher compared to last year. Galaxy, another Chinese automaker, is in ninth with 184,747 deliveries in the 10-month period, an improvement of 220.5%.
Aion, another Chinese automaker, suffered a year-on-year decline with deliveries down 27.2% between January and October. Despite this, the overall growth in the EV market in China continues to be robust, with over 8.59 million models taking to the country's roads between January and October 2024.
Read also:
- Impact of Alcohol on the Human Body: Nine Aspects of Health Alteration Due to Alcohol Consumption
- Understanding the Concept of Obesity
- Tough choices on August 13, 2025 for those born under Aquarius? Consider the advantages and disadvantages to gain guidance
- Microbiome's Impact on Emotional States, Judgement, and Mental Health Conditions
