Reported 8 months ago
Chinese automotive brands sold 13.4 million cars last year, surpassing U.S. brands like Ford and Chevrolet, and closely trailing Japanese brands. Global car sales reached 78.32 million units in 2023, with increasing demand for new cars worldwide. Tesla's Model Y was the bestselling model, while emerging economies collectively outsold the U.S. and European markets with over 17.5 million cars. Chinese auto brands saw significant market share growth in various regions, but face trade barriers due to increased tariffs on Chinese vehicles by the E.U. and the U.S., affecting their business expansion ambitions.
Source: YAHOO