The Geely Group passed the Mercedes-Benz Group and BMW in Q1 2024. Meanwhile, other Chinese companies are catching up and playing the long game.
Legacy automakers, analysts and outspoken CEOs alike have been warning about the threat of Chinese-made electric vehicles for quite some time. More to the point, both the United States and the European Union plan to increase the import duties on Chinese EVs, which may affect even the American Tesla Model 3. Even though everybody seems to be talking about these EVs and the companies behind them, we’ve never seen them on the global top 10 list of best-sellers. Until now, that is.
Next? Geely, which owns several established names such as Volvo and Lotus, as well as other self-made brands like Polestar and Zeekr, overtook Germany’s Mercedes-Benz Group and BMW to secure the 10th spot on the list with its sales volume increasing 27% year-over-year. In the first quarter of last year, Geely was in 12th place globally. Toyota Motor topped the global sales chart in Q1 2024 by selling 2.52 million vehicles , followed by Volkswagen Group with 2.
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