2024 China Auto Market Year-End Review: Top 10 Blockbuster Models! Have You Noticed Them All?
If you are interested in China EV, Please contact us to make a purchase.
As 2024 draws to a close, China’s automobile industry remains in rapid development. This year, numerous new players have entered the market, leading to unprecedented competition. A host of new models debuted like mushrooms after the rain, but which ones truly stood out as the year’s blockbusters? Here’s a review of the top 10 models of 2024 in China’s auto market, most of which are either hot new releases or bestsellers. Let’s explore what makes these models the “superstars” of the industry.
Catalog
BYD Qin L DM-i
First on the list is the BYD Qin L DM-i, a car that became a blockbuster right after its launch in the first half of the year. Sales data show that starting from the second half, the Qin L DM-i achieved monthly sales exceeding 30,000 units, firmly securing its position as the top-selling midsize car. Its sibling, the Seal 06 DM-i, closely follows.
The secret behind the Qin L DM-i’s immense popularity lies in BYD’s fifth-generation DM hybrid technology. According to official data, this system offers an engine thermal efficiency of 46.06%, a fuel consumption of only 2.9L/100km when running on depleted battery power, and a comprehensive range of 2,100km. These features significantly reduce users’ energy costs.
Another major factor is its pricing. Positioned as a midsize car, the Qin L DM-i starts at under 100,000 RMB, allowing consumers to own a midsize car at an incredibly low cost—a key reason for its immediate success.
Xiaomi SU7
As a newcomer transitioning from the tech to automotive industry, Xiaomi Auto made waves with its SU7 model. As of December 28, Xiaomi announced over 130,000 SU7 units delivered for the year, surpassing its annual target ahead of schedule. Achieving such results with a single model demonstrates Xiaomi Auto’s strong market competitiveness.
This year, Xiaomi Auto also made significant strides in technology and market strategy. It formed charging network partnerships with NIO, XPeng, and Li Auto, integrating nearly 30,000 charging piles into Xiaomi’s charging map. Additionally, Xiaomi’s Vela system became open-source, attracting over 60 partners worldwide and supporting more than 354 chip platforms.
Looking ahead, Xiaomi plans to release its second model, YU7, by mid-2025, aiming for a revenue of 917 billion RMB and a 45.5% gross margin contribution by 2027. Profitability is expected by 2026, with its EV business gross margin reaching 25% by 2027.
XPeng MONA M03
In the first eight months of this year, XPENG’s sales could be described as “dismal.” The once-popular XPENG G6 showed signs of fatigue, and while the newly launched XPENG X9 performed decently in the electric MPV market, it remains a niche segment. XPENG urgently needed a mass-market model to boost its sales.
At the end of August, the XPENG MONA M03 was officially launched, which seemed to finally spur the brand’s sales growth. From September to November, the MONA M03 sold over 10,000 units monthly, contributing to half of XPENG’s total sales and emerging as the brand’s new blockbuster. The reasons for its success boil down to two factors: “high intelligent cost-efficiency” and “solid range performance.”
For just ¥120,000, the compact electric sedan comes equipped with practical features such as intelligent parking and an L2-level driver assistance system. The higher trims even support advanced navigation-assisted driving for highways and urban areas, features that were once hard to find in this price range. As for range, the MONA M03 delivers impressive figures, with an official power consumption of only 11.5 kWh/100 km and a maximum range of 620 km under CLTC standards, outperforming competitors in its class. Its ability to lower the cost of vehicle ownership is the core reason behind its popularity.
Li Auto L6
The Li Auto L6 is the fourth model in the L series and serves as its entry-level offering, though its features remain largely uncompromised. Before its launch, the company projected a monthly sales target of 20,000 units. The L6 has lived up to expectations, achieving monthly sales of over 23,000 units from June to November, now accounting for half of Li Auto’s total monthly sales.
The strategy of “cutting prices without cutting features” has successfully drawn more consumers, but it comes with a drawback: higher-priced SUVs like the Li Auto L8 and L9 have seen a decline in sales. Boosting the market share of these models remains a challenge for the brand.
The L6’s consistent sales performance of over 20,000 units per month is largely attributed to its comprehensive comfort and tech offerings. It includes family-friendly features like a refrigerator, entertainment screens, spacious seating, and a smart driving system comparable to the L7, making it a logical choice as the brand’s best-seller.
STELATO S9
Supported by Huawei, the STELATO S9 has become a hot topic, particularly in the “56E” executive sedan market. It has even been called the most anticipated executive sedan of the year. The S9 surpasses traditional luxury brands in terms of opulence and comfort, featuring zero-gravity seats, automotive-grade projection systems, and luxurious additions like refrigerators and entertainment systems—all of which are rare in this price segment.
Sales data shows the S9 leading the sales chart for electric sedans priced above ¥400,000. However, its pure-electric drivetrain poses a challenge for users with range anxiety. Rumors suggest that an extended-range version of the S9 will launch next year, potentially shaking up the “56E” market even further.
Voyah Dreamer
The all-new Voyah Dreamer, launched this year, is the first product of the partnership between Voyah and Huawei. The Dreamer excels in balanced performance across quality control, safety, comfort, and even driving dynamics.
While Huawei’s technology enhances its smart driving and cockpit systems, it also bolsters the model’s safety and driving experience. Interestingly, Voyah doesn’t rely solely on Huawei’s input; its lower-trim models feature in-house-developed technologies like the Xiaoyao Cockpit and Kunpeng driver-assistance system. For Voyah, Huawei’s technology is more of a complementary feature, as self-developed technology remains the foundation for its long-term growth.
Zeekr MIX
One of the most impressive MPVs of the year is undoubtedly the Zeekr MIX. Though its length is just 4,699 mm, making it a mid-size MPV, its over-3-meter wheelbase and B-pillarless design maximize interior space.
This expanded space doesn’t just enhance comfort; the Zeekr MIX adds versatility with features like a leisure mode and a living-room mode, allowing passengers in the front and rear to interact face-to-face when stationary. The bold and innovative design makes the MIX Zeekr’s first attempt in the MPV market. While the initial costs may be high, advancements in technology and manufacturing processes could allow future iterations to maintain quality while reducing costs.
BYD Seagull
As the benchmark in China’s A00-class EV market, the BYD Seagull had to be included in this annual review. According to BYD, the Seagull sold 56,459 units in November, marking its second consecutive month of surpassing 50,000 sales and setting a new record. Since its launch, it has accumulated over 700,000 sales.
The Seagull’s success is unsurprising. The A00-class market has substantial potential, but before the Seagull, there were no true premium options in this segment. Manufacturers often compromised on design, comfort, performance, intelligence, or safety due to price constraints. The Seagull, however, achieves an all-rounded offering at an optimized cost, becoming a genuinely versatile compact car.
Tesla Model Y
In 2024, Chinese brands collectively attempted to “besiege” Tesla’s Model Y, but it remained the best-selling new energy SUV, with monthly sales consistently above 30,000 and even exceeding 40,000 in recent months. Among domestic brands, only BYD posed a competitive challenge. Notably, the Model Y surpassed the Toyota Corolla as the world’s best-selling passenger vehicle in 2023.
The Model Y’s dominance stems from its identity as a Tesla. Its leadership in the EV sector, large market presence, and high resale value are key reasons why many consumers continue to choose it.
All-New BMW 5 Series
As a representative of the BBA trio, BMW has adapted to the era of electrification by launching the all-electric BMW i5 as part of the new 5 Series lineup. The series now offers “same pricing for ICE and EV versions,” which is more consumer-friendly than competitors like the new Mercedes E-Class and EQE.
The BMW i5 features the fifth-generation BMW eDrive system and the brand’s latest charging technology, offering a maximum range of over 700 km. It also provides features like Sport Boost paddles and simulated engine sounds, delivering the signature BMW driving experience even in an electric vehicle.
The new 5 Series doesn’t compromise on luxury. It includes L2+ driver-assistance systems and an industry-first gaze-based auto lane change feature, paving the way for L3-level autonomous driving. Comfort features include a 31-inch floating screen, exclusive headrests, and redesigned rear seats tailored to Chinese customers.
By embracing electrification, intelligence, and cutting-edge features, the new 5 Series sets a new benchmark for BMW’s iconic sedan, showing the brand’s ability to stay ahead in the competitive automotive industry.
These are Chinacarhub’s top 10 blockbuster models in the 2024 Chinese auto market. Each brand has made significant investments this year, producing numerous iconic models to meet growing consumer demands. As 2025 approaches, we anticipate even greater advancements in vehicle intelligence, taking smart features to new heights. Let’s stay tuned for the future of automotive innovation!
Let us handle the complexities while you enjoy the benefits of Chinese vehicles. Contact our sales team, explore your options, and let’s embark on this exciting journey together.
Please explore our blog for the latest news and offers from the car market.
