From January to March 2025, Global Autos sales reached 22.64 million units, a year-on-year increase of 5%. In China, the share of the world's Autos reached 33% from January to March 2025.
According to the Zhito Finance APP, Cui Dongshu, the secretary-general of the Passenger Car Association, stated that global auto sales in March 2025 reached 8.75 million units, a year-on-year increase of 5%. In March 2025, sales decreased by 5% compared to the peak in March 2018, which is at the median level for previous years. From January to March 2025, sales were 22.64 million units, a year-on-year increase of 5%. China accounted for 33% of global auto sales from January to March 2025, with the lower figures at the beginning of the year being a normal reflection of the Spring Festival. As the effects of policy stimuli became evident, the Chinese auto market began to strengthen starting in March.
China's independent brands are significantly increasing their global market share. Companies such as BYD, Geely, Chery, and Changan have performed robustly. Factors favoring markets like Suzuki and Tata in India have contributed to this trend, while shares of other international brands are expected to experience a major decline in 2024. At the beginning of 2025, due to the Spring Festival in China and the tax risks in the USA, some international car companies were relatively strong at the start of the year. Cui Dongshu mentioned that recent developments in new energy have been rapid, with Chinese independent car companies showing strong trends, with BYD ranking 6th globally and Geely 9th, while the progress in electrification has led to the gradual decline of some international car companies.
1. Monthly trends of global car sales.
The global auto market remained relatively stable from January to March 2025. Due to the Spring Festival in January, the low sales in the market before the festival led to lower growth in January, while the global auto market showed strong growth in February and March, with Chinese car companies contributing significantly to the increase in February.
In March 2025, global auto sales reached 8.75 million units, a year-on-year increase of 5%. Although the markets in the USA and China strengthened in March, the sales in March 2025 were still 5% lower than the peak in March 2018, remaining at the median level historically. Sales from January to March 2025 totaled 22.64 million units, with a year-on-year growth of 5%.
After a continuous decline from 2018 to 2020, global auto sales in major countries reached 81.35 million units in 2021, a year-on-year increase of 4%, showing a good recovery after the pandemic. However, in 2022, sales dropped to only 80.18 million units, a year-on-year decrease of 1%, slightly above the sales in 2020. In 2023, global auto sales reached 89.01 million units, an 11% year-on-year increase. The revised annual total for 2024 is 91.77 million units, surpassing 2019 and returning to a reasonable level.
Despite the complex global automotive environment, the sales from January to March 2025 reached 22.64 million units, surpassing 2019 and returning to a mid-high level.
2. Historical trends of global Autos sales
The global Autos sales in the table mainly represent sales from 70 countries, with these core 70 countries having around 90 million units in 2019, which can be tracked monthly. Due to frequent conflicts, global data has been lagging in recent months.
Additionally, around 100 other countries can only track annual sales, with a total of about 3 million units in recent years. Compared to the 70 major countries' 80 million units, these smaller countries' total accounts for only about 3%, having little impact.
From the perspective of global sales represented by major countries, a downward cycle began after 2018, with global auto sales decreasing by 1% in 2018; in 2019, sales reached 89.81 million units, a 4% year-on-year decline; in 2020, sales dropped by 13%; in 2021, there was a 4% year-on-year rebound; 2022 saw a poor performance with a 1% decrease in global sales; in 2023, the global sales growth rate of 11% showed good performance; and in the first three months of 2025, the global sales growth rate of 5% performed well. This year, the Chinese auto market was temporarily weak at the beginning of the year due to the Spring Festival, but the overall performance of the Chinese auto market is expected to exceed expectations.
3. China will maintain its leading position in sales in 2024.
The influence of the Chinese auto market on the global auto market is extremely significant. From 2016 to 2018, China's auto market accounted for about 30% of the world; in 2019, it decreased to 29%, but still maintains an absolute advantage. The market share rebounded to 32% in 2020-2021. In 2022, China's market share increased to 33%. In 2023, China's market share remains at 33.8%. China is expected to reach a 34.2% share of the global auto market in 2024, and from January to March 2025, it is anticipated to reach a 33% share of the global auto market. The low performance of Chinese automakers at the beginning of the year is a normal reflection of the Spring Festival factor. With the effects of policy stimulus becoming evident, the Chinese auto market began to strengthen in March.
4. The market for developing countries has significantly strengthened.
From the sales data of various countries globally, currently, the markets in developed countries like Europe and the USA are performing relatively well, while the overall trend in the Chinese auto market is good. In 2024, Russia's domestic sales will be close to China's export volume, with Chinese auto companies holding a significantly high share in Russia. The Russian market has been gradually recovering over the past two years, bringing high sales and profits for independent Chinese auto companies.
Since 2020, China's share of the Global market has continued to rise, reaching 33.8% by 2023, and expected to reach 34.2% in 2024. By early 2025, China's market share will reach 33.7%, which is already very good.
5. Trends in the markets of various countries around the world.
Currently, the Chinese market appears to be the most dynamic with rapid growth. The Russian market is experiencing a severe decline, and Mexico's growth is slowing down. However, markets like Argentina in South America are performing relatively well.
6. Trend of China's Global market share.
By 2025, the global market will further differentiate, and China's share will gradually recover. At the beginning of 2025, with the gradual launch of the New energy Fund subsidy policy, China's auto sales will rebound, reaching a share of 34% in January; however, due to temporarily high levels in the USA and Japan markets, it will drop to a good level of 33% in March.
In 2025, China's auto market will gradually return to normal, along with strong exports, thus China's sales share will continue to strengthen. In March and April 2025, the Chinese market will further warm up, with the sales share of the Chinese auto market reaching a historical high of the Global share.
7. Monthly trends in auto sales across various countries.
Looking at the monthly sales growth trends from countries around the world, they generally maintain a balanced trend between months. However, influenced by seasonal factors, annual factors, and others, there are still significant differences in trends among countries.
As the Chinese auto market is still in the popularization phase, it exhibits relatively strong performance at the beginning and end of the year, while the spring trend is relatively weak. In contrast, the USA auto market shows relatively weak performance at the beginning of the year and is relatively stable in the middle of the year. However, the spring uplift characteristics of the Chinese auto market in 2024 are not obvious, resulting in little increase in market share. With the decline of the auto markets in Europe and the USA, the market trend is relatively stable. The Japanese auto market shows strong performance at the end of March this year, while the Chinese market in early 2025 is fairly average, followed by good growth in the second quarter.
8. Performance of international groups in the world share.
This chart shows the global sales share trends of major auto groups. From the current overall performance of the groups, the share of leading international automakers has significantly declined, while Chinese automakers generally perform strongly. With the rise of international market positions for China, Russia, and India, along with good market performance from Asian automakers like Geely, BYD, Chery, Changan, and Suzuki, the production and sales trends of Asian automakers are favorable. European automakers generally perform poorly.
This year, among the top 10 auto companies in the world, two Chinese companies have significantly increased their shares, with BYD reaching 6th place globally and Geely at 9th place.
9. Performance of international groups in different regions.
Chinese independent brands are fully enhancing their share in the world market. Brands like BYD, Geely, Chery, SAIC, and Changan are performing strongly.
In addition to factors promoting Suzuki and Tata's performance in the Indian market, other international brands are expected to see a significant decline in share in 2024. At the beginning of 2025, due to the Chinese New Year and the risk of increased taxes in the USA, some international car manufacturers may perform strongly at the start of the year.
From January to March 2025, Toyota Group performed relatively strongly, up 0.1 percentage points compared to 2019, maintaining a global share of around 11.2% in 2025, which is attributed to Toyota's strong overall performance in the European and North American markets.
From January to March 2025, Volkswagen's performance was relatively weak, with a share decrease of 1.9% compared to 2019, facing significant pressure in the Chinese market. However, the Volkswagen Group's performance improved considerably in other global markets, with noticeable recovery in the Southern Hemisphere.
South Korean Hyundai's trend has been relatively stable, reaching 7.5% from January to March 2025, a slight increase of 0.2% compared to 2019. Hyundai Group performed well in North America and other Asian markets, but in China, it continues to see weak performance due to insufficient product strength.
Suzuki's market performance is strong, primarily due to good results in India and Japan. Honda Group has also seen a decline of 1.7% compared to 2019, indicating poorer performance, particularly in the weak Chinese market.
Germany's Mercedes-Benz faces significant market pressure, with share declines in several areas. BMW Group's performance remains stable, though luxury vehicles are increasingly burdened in the Chinese market due to changing consumer demands, with the demand for luxury cars shifting towards domestic high-end brands.
