China Accounted For 31% Of Global Car Sales In 1H 2023 With 61% Of The World’s EVs Were Sold

Global car sales reached 7.87 million in June 2023, an 11% increase from the previous year. From January to June 2023, the total number of cars sold worldwide increased by 11% on a yearly basis to 42.43 million units, Car News China reported.

The improved chip supply has led to an increase in global auto sales, which is good for the industry. Notably, the China Passenger Car Association (CPCA) recently reported that Chinese automakers held a sizable 31% market share globally in the first half of 2023.

The top 10 automakers in China by sales during the first half of 2023, as reported by the CPCA, are Volkswagen with a 10.2% market share, closely followed by BYD with 9.5%, and GM with a 7.3% market share.
However, sales of new energy vehicles are dominated by passenger cars, which only make up 3% of the global market for commercial vehicles.

Notably, China's new energy passenger vehicle market accounted for an impressive 60% of the global total in the first half of 2023, underscoring its strong performance in the sector.
Due to its established industrial chain, full domestic market, and increased exports, China's export of new energy vehicles is anticipated to remain strong in 2023.