FRANKFURT, Jan. 31 (Xinhua) -- Sales of pure electric vehicles produced by German automakers in the Chinese market in 2023 increased by nearly 50% compared to 2022, according to a research report released by PricewaterhouseCoopers on January 31.
According to the report, the sales of German electric vehicles in China have increased considerably. In the fourth quarter of last year, the sales of German brand pure electric vehicles in China increased by 63% year-on-year. In 2023, the market share of German brand BEVs in China will increase by 1 percentage point from the previous year to 5%.
Felix Kunat, PwC Germany Partner and Head of Automotive Industry, believes that 2023 will be a decisive year for German automakers. "On the one hand, German brands have launched competitive models in both the low-to-mid-range and high-end markets; On the other hand, it is becoming more and more recognized that electric vehicles are becoming mainstream. ”
The report also shows that China continues to dominate the global EV market. In 2023, global BEV sales are expected to exceed 10 million units, and the Chinese market accounts for about two-thirds of the total sales in the world's 20 major automotive markets surveyed by PwC.
The report predicts that the global pure electric vehicle market will continue to show good development, but geopolitical conflicts, chain fluctuations and other issues may bring challenges to the automotive industry and market development.