“Chinese” ranking of carmakers (passenger cars + light utility vehicles): Toyota first in 2024, Hyundai-Kia second (2/2)
- By including foreign cars produced under license by Chinese carmakers to the credit of Chinese carmakers (and not of foreign carmakers), we obtain a “Chinese” ranking of carmakers completely different from the “Western” ranking, particularly concerning the Top 20.
- While the Toyota group remains the world's leading carmaker in 2024 in this ranking, the Hyundai-Kia group is second, ahead of the Volkswagen group in third place, due to the much larger production volume achieved in China by Volkswagen compared to Hyundai-Kia.
- Stellantis Group is fourth due to its very low production in China, which allows it to supplant GM Group, which produces much more in China (through SAIC).
- GM's drop to 6th place allows BYD to take 5th place. SAIC Group is 7th thanks to its production for GM and VW, but this formerly leading carmaker in China has declined significantly (due to the decline of GM and VW production in China) to the point where it is behind BYD in terms of production volume for the first time.
- Seven Chinese carmakers are present in this Top 20, compared to five in the previous ranking. Besides SAIC, FAW and Dongfeng also appear, both of which produce many foreign cars under license. Tesla is ranked 19th. Inovev predicts a continued decline of Chinese carmakers producing foreign cars and a growth of Chinese carmakers producing only Chinese cars.