Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Xiao Zhan for the clue delivery! CTOnews.com, October 25, China's automobile export volume reached 2.3 million in the first half of 2023, continuing its advantage in the first quarter and maintaining its position as the world's largest automobile exporter, according to a report released by analyst Canalys today. In the second half of 2023, China's auto exports will continue to maintain the momentum of growth, and annual sales are expected to reach the first place in the world.

Thanks to the advantages of products and technology, as well as increased investment by Chinese independent car companies in channels, research and development, and product localization, new energy vehicles will continue to be the core driving force for China's automobile export growth, the report said. Canalys predicts that China's car exports will reach 5.4 million in 2023, of which new energy vehicles account for 40%, reaching 2.2 million.

In addition, Canalys predicts that China's total car exports will reach 7.9 million in 2025, with new energy vehicles accounting for more than 50 per cent.

Liu Zeyuan, an analyst at Canalys, said that changes in subsidy policies for imported new energy vehicles in some regions and markets may temporarily affect the advantages of Chinese car companies. Some European countries use carbon footprint assessments to determine whether new energy vehicles are eligible for subsidies, which could lead to substandard imports of new energy vehicles from China, thus losing their price advantage. Although the change in subsidy policy will have an impact on Chinese car companies in the short term, given the strong demand in overseas markets and the continued optimization of the global portfolio of new energy vehicles, there is still a window for Chinese car companies to explore overseas markets. however, the comprehensive capability requirements for Chinese brands will also be higher in the future. In the first half of 2023, sales of new energy light vehicles in Europe and Southeast Asia, the two major exporters of new energy vehicles in China, reached 1.5 million and 75000 respectively, up 38 per cent and 250 per cent year-on-year.

The report also shows that Chinese-branded new energy vehicles perform better than traditional fuel vehicles, especially in Southeast Asia and the Middle East and Africa, where there is a stronger demand for new energy vehicles. In these areas, Chinese brands' market share of new energy vehicles reached 71% and 63%, respectively. BYD is the best-selling new energy car brand in Southeast Asia, with a 39.8 per cent market share in the region. It is worth noting that BYD is the only brand with a market share of more than 10% in the new energy vehicle market. Although the overall penetration of new energy vehicles in Latin America is low, the accumulated channels and brand influence of Chinese brands in the fuel vehicle era have pushed their overall penetration to 58 per cent.

At present, more than 30 car brands in the Chinese market export automobile products outside Chinese mainland, but the market head effect is significant, with the top five brands accounting for 42.3% of the market share in the first half of 2023. CTOnews.com found that Tesla is the only non-Chinese car brand among the top five exporters.

Canalys said that for the new energy market, most overseas markets are still in the early stages of the new energy transformation, but consumers are in the process of gradually identifying demand. Therefore, the Matthew effect of "the strong is always strong" has not yet been formed.

MG is the leader in the export of new energy vehicles in China with a share of 25.3%. In the first half of 2023, overseas sales of MG light vehicles reached 259000, accounting for 76 per cent of its total sales. Among them, the sales of fuel vehicles are slightly higher than those of new energy vehicles, accounting for 56% of the total overseas sales.

Western Europe is the largest market for new energy vehicles in MG. The local recognition of brands superimposed on the product innovation and cost competitiveness in the Chinese market has promoted MG to become the fifth brand in the new energy market in Western Europe. Among them, the MG4 (MG Mulan) sold 32000 vehicles, slightly lower than the core competitor Volkswagen ID.3, which is the seventh best-selling model in the pure electricity market in Western Europe and the best-selling model among Chinese brands. The MG4 X Power, launched in the second half of 2023, will bring MG back to the "performance car" market. And it is expected to further increase the share of MG4 in the European market with a very high performance price.

In the first half of the year, BYD light vehicles sold 74000 new energy vehicles in overseas markets, of which pure electric models accounted for 93 per cent of total exports.

Southeast Asia is BYD's largest overseas market, accounting for 43 per cent of BYD's overseas sales in the first half of the year. With the continued enrichment of BYD's overseas product line (BYD Dolphin, which is more in line with Southeast Asian consumers' preference for small cars), BYD is expected to replace Japanese small cars with higher integrated vehicle costs and a more intelligent cockpit experience, thereby expanding BYD's market share in Southeast Asia.

Referenc

China's car exports soar and are expected to exceed 5 million in 2023

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.