Auto & Transportation

Recently, there have been many topics related to automobile exports, and it is not uncommon for domestic cars, especially new energy vehicles, to go overseas. With China's automobile production and sales ranking first in the world for 14 consecutive years, and the production and sales of new energy vehicles dominating the world for 8 consecutive years, Chinese brands have gained widespread market recognition through their "lane changing overtaking" of new energy vehicles, with rich product types and excellent product quality. The market share continues to break through, the influence continues to increase, and China's automobiles, especially new energy vehicles, are accelerating their "going global".

According to customs data, since this year, China's automobile export volume and price have risen together, especially the export of Alternative fuel vehicle continues to grow at a high speed. In recent years, China's international competitiveness of new energy vehicles has been continuously improving, favored by overseas consumers, and car companies have actively seized opportunities to vigorously explore overseas markets.

According to customs data, in 2021, China's total automobile exports exceeded 2 million vehicles for the first time, reaching 2.015 million vehicles, surpassing South Korea and ranking behind Japan and Germany; Among them, 310000 new energy vehicles were exported, a year-on-year increase of three times. In 2022, China's automobile exports reached 3.11 million units, a year-on-year increase of 54.4%, surpassing Germany to become the world's second largest automobile exporter; The export volume of new energy vehicles climbed to 679000 units, a year-on-year increase of 1.2 times. Entering 2023, China's automobile exports continue to maintain a high growth momentum. Customs data shows that in the first quarter, automobile exports increased by 70.6% year-on-year to 994000 vehicles, successfully surpassing Japan's 954000 vehicles; The export of new energy vehicles also reached 248000 units, a year-on-year increase of 1.1 times. Customs data shows that in the first five months, China's automobile exports have reached 1.758 million units, a year-on-year increase of 81.5%; Export of 457000 new energy vehicles, a year-on-year increase of 1.6 times; The export value of automobiles reached 266.78 billion yuan, a year-on-year increase of 124.1%.

China's automobile and new energy vehicle exports have achieved explosive growth, indicating that there have been some fundamental changes in the Chinese automobile industry from quantitative to qualitative. "Xu Haidong, Deputy Chief Engineer and Minister of Industry Research Department of the China Association of Automobile Manufacturers, said," The Chinese automobile market is becoming a unique single market with different development cycles and characteristics, and Chinese brands are entering a new stage

Wang Du, Assistant President of the China Automobile Distribution Association, also believes that the export of Chinese brand cars has ushered in a period of new energy development opportunities. In terms of fuel powered vehicles, compared to developed countries, our product technology is still in a backward state, while new energy technology is already in a relatively advanced state. In addition, markets such as Europe are currently relatively scarce in resources and have a high demand for automotive products, providing greater space for China's new energy vehicle exports

In addition, Chinese brands' overseas direct investment is also playing a role, accumulating rich experience for automobile exports. For example, the investment and construction of factories by Great Wall in countries and regions such as Russia, Thailand, and Brazil, as well as Geely's direct investment in Malaysian Proton Motors, all represent the firm confidence in the internationalization development of Chinese brands.

Chinese automobile brands have gradually increased their market share in domestic competition, reaching 49.9% at the end of last year and 53% from January to April this year. "Xu Haidong said," Now, Chinese brands are accelerating the development of overseas markets, playing a positive role in promoting the construction of the 'dual circulation' pattern in China's automobile industry

As a pillar industry of the national economy, the export scale of automobiles is constantly increasing, which not only helps the country improve international competitiveness, but also promotes the upgrading of the automotive industry structure, promotes technological innovation and brand building, and assists in the high-quality development of the industry. Especially in the trend of intelligence and electrification, Chinese brands, relying on their advantages in new energy technology, will further enhance their voice and dominance in the global market.

Since becoming the world's first car company to announce the discontinuation of fuel powered vehicles in April last year, BYD has not only shown a unique momentum in the domestic market, but also become a "hot spot" in the global new energy vehicle market. According to customs data, in 2022, BYD's annual cumulative sales reached 1.8685 million vehicles, a year-on-year increase of 152.5%. While maintaining its position as the top seller of new energy vehicles in China for ten consecutive years, it surpassed Tesla and successfully won the global championship in new energy vehicle sales.

At the same time, BYD's overseas market layout has gradually developed from its initial battery and electronics business "going to sea", as well as commercial vehicles led by new energy buses, buses, and other products, to a new round of "going to sea" with passenger cars as its core products. In 2021, BYD announced to cooperate with Norwegian Car dealership to enter the Norwegian market. Last October, BYD ATTO 3 launched in the Thai market and sparked a "rush buying" trend, receiving orders for 10305 vehicles in just 42 days. Since the beginning of this year, BYD has been the sales champion of new energy vehicles in Thailand for four consecutive months. At present, BYD's new energy vehicles have served over 4.1 million car owners worldwide, with pure electric buses covering over 70 countries and regions, accumulating a certain level of product reputation, brand awareness, and reputation.

To promote China's automobile exports to a new level, Wang Du suggests that the country also needs support in relevant policies. Firstly, strengthen trade agreements with countries and appropriately tilt automobile exports in terms of content. Secondly, increase financial support for automobile exports, in accordance with internationally accepted rules, support eligible automobile production enterprises or financial institutions to invest and establish automobile finance companies overseas, actively play the role of export credit insurance, further reduce the time limit for underwriting approval under the premise of controllable risks, and encourage and guide funds to increase investment in automobile overseas investment projects. Once again, accelerate the construction of an automobile export service platform. We will support qualified enterprises to build a public platform for international marketing services in the automotive industry, promote domestic enterprises to build a warehousing, logistics, sales and after-sales service system for automotive products overseas, especially in countries and regions along the "the Belt and Road", and enhance their overall competitiveness.