In the past 2023, I believe everyone has felt the rapid progress of China's independent car companies, and also felt that new energy vehicles are replacing fuel vehicles, but it is obviously not enough to just feel it, and the most real data can better reflect the coming of the wave. Recently, the China Passenger Car Association released the latest data for 2032, the total sales of automobiles in China (including passenger cars and commercial vehicles) in 2023 will exceed 30 million, and the annual market share of independent brands will reach 52%, reaching more than half of the unprecedented, and is accelerating to replace the share of joint venture vehicles in the Chinese market.
In the narrow sense of passenger car retail sales ranking, it can be seen that independent brands dominate the list, occupying five seats in the top ten, not only BYD as the leader in the first place, but also Geely, Changan, SAIC occupy 3 to 4 places, and the joint venture brand ranks significantly behind. In the ranking of wholesale sales of passenger cars in the narrow sense, domestic brands accounted for six of the top 10 seats, and the performance was very eye-catching.
Under the impact of domestic new energy vehicles, we will see many joint venture fuel vehicles cut prices frantically in 2023, using unsustainable price reductions to barely maintain the sales of fuel vehicles. Even if the price reduction is used to attract users, but the decline of joint venture fuel vehicles is inevitable, the monthly sales of star models such as Fit and Polo have also dropped from more than 10,000 to three or four thousand, and the sales of major joint ventures have basically declined to varying degrees last year. It is worth mentioning that Yueda Kia performed well because they chose to avoid domestic competition for the time being, and half of their products were turned to exports, and only more than 80,000 units were sold in China.
In today's era of new energy vehicles, BYD, as the leader of new energy vehicles, has mastered the core technology of "three electrics", and is the first car company in the world to have the three core technologies of battery into motor and electronic control, leading the development of new energy vehicles in China and even the world. According to official data, BYD's sales in 2023 will also exceed 3 million units, a year-on-year increase of 618%, not only the sales champion of car companies in China's auto market and the brand sales champion of China's auto market, but also the sales champion of the global new energy vehicle market, playing a leading role in the global wave of new energy vehicles.
BYD not only has high sales, but also is in the stage of rapid development, and the technology fish pond continues to belong to the latest technology, maintaining the leading position in technology and product strength, and the future development is worth looking forward to. At the beginning of this year, BYD made a smart sword and launched the industry's first vehicle intelligence strategy, opening a new era of intelligence. In BYD's vehicle intelligence, Xuanji intelligent architecture will become the core, which will realize the efficient integration of electrification and intelligence, break the barriers of different systems, and quickly adjust the actual state of the vehicle according to external changes, so as to achieve real vehicle intelligence, and believe that it will lead the new development of China's new energy vehicles in the field of intelligence and enhance the overall competitiveness of independent brands.
From last year's sales data to today's BYD vehicle intelligence strategy, we can see that the joint venture fuel vehicles are indeed significantly behind, and the rise of new energy vehicles and China's own brands has been unstoppable. It is believed that in the following years, joint venture brands and fuel vehicles will be further defeated, and independent brands with new energy vehicles will occupy more market share, not only in the domestic market, but also in the international market will have better development, opening a new era of Chinese automobiles.