China's auto market is growing rapidly in new energy, and BYD is leading the way to break through the watershed!
2023 will be a historic moment and milestone for China, as China's first company will surpass ordinary businesses and become the number one country in terms of sales volume for the first time in its 70-year history.
Volkswagen's share of sales in China has been monopolized by joint ventures since 1984, but 2023 will be the first time it has been monopolized by a joint venture.
In 2023, China's auto market crossed the 30 million mark for the first time: wholesale sales of passenger cars reached 25.53 million units (up 10.5 million year-on-year).2%), and retail sales reached 216990,000 units (up 5.com year-on-year.)6%), a new high.
This not only shows that the Chinese auto market has great potential for development, but also provides support for the rise of the company's own brand in China.
This year, Chinese auto brands have become the focus of attention, not only because of the sales figures, but also because of the confidence and strength of China's leading enterprises.
According to the statistics of the China Passenger Car Association, by 2023, the proportion of China's own brands will reach 52%, which means that only 52 of the new cars currently on the market are domestically produced, and the strength of joint ventures has also weakened over the years.
And FAW-Volkswagen, SAIC-Volkswagen, SAIC-GM, BAIC, Toyota, they all maintain competitiveness.
Most notably, BYD surpassed FAW-Volkswagen with a strong momentum of nearly 1 million units to become a national auto sales miracle in the narrow category of passenger car retail sales.
Geely Automobile and Changan Automobile took third and fourth place respectively, demonstrating the strong competitiveness of Chinese local brands.
This is also a good illustration of the growing consumer demand for the independent brand model, as well as the recognition of the strength of independent brands in areas such as technological innovation.
In contrast, most joint ventures were under pressure from declining sales volumes, with negative or declining growth: SAIC Volkswagen down 1% and GAC Toyota down 73%, Dongfeng and Honda down 49%, while SAIC-GM, Dongfeng Nissan, GAC and Honda fell by double digits.
FAW Toyota grew by only 03%, while Hyundai grew slightly by 2 after bottoming out**8%, and Hyundai-Kia grew by 312%, although both companies are dependent on exports and are not doing well domestically, with sales of about 80,000 units.
The above data shows that the joint venture faces stiff competition in the local market, and it also shows that Chinese automakers have made great strides in terms of technology, quality and market recognition.
In China's auto market, BYD is an excellent representative of China's auto industry, from joint ventures to independent, and its technology accumulation and new energy strategy are first-class, so it has an absolute advantage in the new energy vehicle market.
By 2023, BYD's total sales will exceed 3 million units, making it not only the leader in the Chinese market, but also the largest seller of new energy vehicles in China.
BYD sold more than 240,000 cars this year, up 334% from the previous year, making it the world's largest automaker.
Chinese brand BYD (BYD) has played a major role in this change, entering the global sales charts for the first time, coming in at ninth place – a huge success that shows that BYD is moving towards higher goals.
The main reason why BYD has been recognized by domestic and foreign consumers in such a short period of time is that the company has abandoned traditional fuel models and completely focused on new energy vehicles.
This time, BYD's strategy is not only based on the ground, but also widely recognized in the domestic and foreign markets with its rich experience in blade batteries, DMI super hybrid systems, cloud van systems, and e-squares.
At the beginning of 2024, BYD will begin its foray into smart technology, this time with electric vehicles, smart cars, and smart cars.
We firmly believe that by 2024, BYD will achieve more brilliant results and become another pearl in China's crown.
In 2023, on the occasion of the 70th anniversary of the birth of the People's Republic of China, the proportion of domestically produced cars in the world surpassed that of Japan for the first time and jumped to the first place in the world.
Nowadays, the world's well-known independent brands have accelerated the pace of internationalization, some go abroad, and some set up factories abroad to make their own contributions to China's leading world.
It can be seen that the rise of new energy vehicles means that domestic car companies have begun to overtake in corners, and BYD, as a pioneer, has not only achieved a historic breakthrough in sales, but also injected strong momentum into the development of China's automobile industry with its far-reaching strategic planning and technological innovation.