2023 is an extremely important year for China's auto market. In this year, China achieved another milestone in 70 years, that is, for the first time, it became a global leader. The strong rise of its own brands has led to the sales of domestically produced cars surpassing those of joint venture cars, ending the 39-year dominance of joint venture cars. According to the data, domestic independent brands have accounted for half of the total sales, reaching 52%.
Specifically, in 2023, the sales volume of China's automobile market (including passenger cars and commercial vehicles) will exceed 30 million units. In the latest data released by the Passenger Car Association, the wholesale of passenger cars reached 25.53 million units, a year-on-year increase of 102%, a record high; Retail sales totaled 2,16990,000 units, a year-on-year increase of 56%。In particular, the annual market share of domestic brands reached a staggering 52% during the year. In other words, for every 100 new cars sold, 52 are owned brands, a figure that leaves behind the strong joint ventures of previous years.
At the same time, it is worth noting that Chinese brands occupy 6 places in the ranking table of passenger car wholesale. Independent brands dominate the list and show strong competitiveness. BYD topped the sales list, leading FAW-Volkswagen by nearly 1 million units, creating a sales miracle for domestic car brands. Geely Automobile and Changan Automobile followed in third and fourth place, respectively.
Most of the joint ventures have fallen into negative or slight growth in sales volume. For example, SAIC Volkswagen fell 1% and GAC Toyota fell 73%, and other brands such as SAIC-GM, Dongfeng Nissan and Guangqi Honda all saw a sharp decline in sales.
With the rapid development of China's new energy industry, China's annual automobile sales (including passenger cars and commercial vehicles) exceeded 30 million units for the first time. As a leading company, BYD jumped to the ninth place in the global car sales ranking. As the only Chinese independent brand on the list, BYD is not only the leader in the field of new energy vehicles, but also the world's highest-selling new energy vehicle brand. BYD has won wide recognition from consumers at home and abroad by virtue of its technical strength such as blade battery, super hybrid DMI system, Yunyuan system, and Yi Sifang. In addition, now BYD's intelligent bright sword shows its strong R&D strength.
In addition, BYD's far-sighted advanced strategic layout is also worth paying attention to. It took the lead in discontinuing the production of fuel vehicles and fully invested in the new energy vehicle market. This initiative is not only based on policy promotion, but also stems from the deep technology accumulation of enterprises. Now, BYD is accelerating its globalization, for example, by building a plant in Uzbekistan to produce new energy vehicles.
In 2023, an important node of China's 70th birthday, China has not only won in the proportion of domestic car sales, but also surpassed Japan to become the world's largest country in automobile exports. At the same time, China is also the country with the largest production and sales scale of new energy vehicles. At present, major independent brands are actively exploring the international market and gradually realizing the integration of local and global. On the track of new energy vehicles, has China achieved corner overtaking? The answer may already be clear.