BYD first, Mercedes-Benz second, Volkswagen third in 2024 Chinese passenger vehicle sales revenue ranking
Recently, a research organization released the sales revenue ranking of automobile brands in the Chinese passenger car market in 2024, according to the Chinese social media Sina Finance. BYD again crowded the highest sales revenue, followed by Mercedes-Benz, then Volkswagen.
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The top 15 brands with the highest revenue were:
| # | Automaker | Avg. transaction price per vehicle (USD) | Sales Revenue (USD) | ||
| 1 | BYD | 16,700 | 58.1 billion | ||
| 2 | Мерседес-Бенц | 59,500 | 42.5 billion | ||
| 3 | Volkswagen | 19,700 | 41.9 billion | ||
| 4 | Toyota | 23,300 | 36.7 billion | ||
| 5 | BMW | 46,900 | 32.7 billion | ||
| 6 | Tesla | 33,800 | 22.3 billion | ||
| 7 | Aito | 55,500 | 21.4 billion | ||
| 8 | Li Auto | 42,000 | 21.1 billion | ||
| 9 | Honda | 20,800 | 17.8 billion | ||
| 10 | Geely | 12,700 | 13.2 billion | ||
| 11 | Chery | 14,600 | 10.4 billion | ||
| 12 | Land Rover | 140,500 | 10 billion | ||
| 13 | Бьюик | 25,400 | 9.9 billion | ||
| 14 | Nio | 47,200 | 9.7 billion | ||
| 15 | Changan | 11,200 | 9 billion |
For BYD, the average transaction price per vehicle was 121,000 yuan (16,700 USD) and the annual sales volume in the Chinese market was 3.49 million vehicles, bringing the sales revenue to 420.7 billion yuan (58.1 billion USD).
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For Mercedes-Benz, even though its annual sales volume was three times less than that of Volkswagen with only 710,000 vehicles sold, it has a higher average vehicle transaction price of 431,000 yuan (59,500 USD), bringing its sales revenue to 307.9 billion yuan (42.5 billion USD), ranking second on the list.
Volkswagen came in third on the list with an average vehicle transaction price of 143,000 yuan (19,700 USD) and an annual sales of 2.13 million vehicles, bringing its sales revenue to 303.2 billion yuan (41.9 billion USD). At the same time, Audi has an average vehicle transaction price of 297,000 yuan (41,000 USD) and sold 660,000 vehicles in China, bringing its sales revenue to 195.9 billion yuan (27 billion USD).
Furthermore, it is worth pointing out that both Aito and Li Auto were among the top 10 automakers, exceeding traditional Chinese automakers including Geely, Chery, and Changan. Aito is part of HIMA (Harmony Intelligent Mobility Alliance). It sold 390,000 vehicles in China with an average transaction price per vehicle of 402,000 yuan (55,500 USD), also the third-highest transaction price, bringing its sales revenue to 21.4 billion USD.
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Additionally, Li Auto’s 2024 cumulative delivery volume exceeded 500,000 vehicles, a year-on-year increase of 33%, making it the first Chinese new energy vehicle startup to achieve an annual delivery of more than 500,000 vehicles.
Source: Sina Finance
