The current situation of China automobile market: BYD pressed Volkswagen to fall into the altar on the first day.

On January 29th, China Automotive Technology Research Center (CATRC) reported that BYD surpassed Volkswagen and its market share ranked first in China for the first time.

According to the above data, in 2023, BYD registered 2.4 million new car insurance, and its domestic market share reached 11%, up 3.2% year-on-year, surpassing Volkswagen’s 10.1% market share in China, ranking first in China for the first time.

In addition to BYD and Volkswagen, Toyota, Honda and Changan ranked third to fifth in domestic market share, among which the market share of two Japanese brands continued to decline, and Changan was flat year-on-year.

According to the data released by the company, BYD sold 3,024,417 vehicles in 2023, up 61.9% year-on-year, and exported 242,765 vehicles, up 334.2% year-on-year.

In 2023, Volkswagen delivered a total of 3.236 million new cars in China, up 1.6% year-on-year, of which Volkswagen brand delivered 2.3986 million cars, up 0.1% year-on-year, and Audi brand delivered 728600 cars, up 13.5% year-on-year.

From the perspective of pure electric vehicles, the sales volume of BYD pure electric vehicles was 1,574,800, up 72.84% year-on-year, while that of Volkswagen Group was 191,800, up 23.2% year-on-year.

It is worth noting that the sales growth of Volkswagen Group in China in 2023 was achieved under the circumstances of substantial price reduction and promotion. In 2023, many of its high-end cars were greatly discounted, and some models were reduced by more than 100,000 yuan.