(Yicai) Feb. 6 -- Geely Auto, whose vehicle brands include Volvo and Lotus, joined BYD as only the second Chinese firm in the top 10 list of global car producers by sales last year, according to figures released by automakers around the world.

BYD ranked fifth last year after selling more than 4.2 million cars, a 41 percent jump from 2023, the year it entered the top 10. Geely was 10th with sales of 3.33 million, an increase of 22 percent, of which 1.49 million were new energy vehicles, up 52 percent.

Japan’s Toyota Motor was the world’s No. 1 automaker for the fifth year in a row, with annual sales of 10.8 million. It was also the only one to sell over 10 million vehicles. 

German car giant Volkswagen has faced setbacks, including in the Chinese market, but still came in second with sales of 9.03 million. Third was Hyundai-Kia Motors Group, at 7.23 million.

The high-paced growth of Chinese passenger carmakers is mainly due to significant gains in the NEV and export markets, according to Cui Dongshu, secretary-general of the China Passenger Car Association.

Leading traditional carmakers have done well in transforming and upgrading, with companies such as BYD, Geely, and Chery Automobile markedly growing their market shares, Cui said.

Geely sold 266,700 vehicles last month, a 27 percent increase on December and a 25 percent gain from a year earlier. It sold 239,944 units in China, surpassing BYD’s 234,202 and returning Geely to the top spot among Chinese automakers.

Editor: Tom Litting