In 2024, China's auto market will usher in a big explosion of new energy vehicles. Plug-in hybrid and pure electric vehicles have become the mainstream, represented by BYD Qin L and Volkswagen IDThe 7S and other companies demonstrate the strength of the electrification wave. Independent brands occupy an absolute advantage in the field of electrification, and their products are not only reasonable, but also have leading technology and excellent performance. This shift has not only changed consumers' choice of vehicles, but also squeezed the market share of traditional fuel vehicles. A new track has been opened, and Chinese brands are challenging the supremacy of international brands with a stronger image.
The Arrival of the Electric Vehicle Era: The Rise of Chinese Brands
In 2024, a new wave will be set off in China's auto market: the arrival of the era of electric vehicles. **Most of the new models are plug-in hybrid and pure electric vehicles, such as BYD Qin L and Volkswagen ID7s, etc. Behind this phenomenon is the strong rise of China's own brands in the field of electrification.
In 2023, the penetration rate of electric vehicles is close to 36%, and in December it reached more than 40%, indicating that the penetration rate of electrification will further increase in 2024. China's own brands have an absolute advantage in this wave of electrification, with cumulative sales reaching 6.65 million units, accounting for 86% of the total market. In contrast, the sales volume of the joint venture brand is significantly inferior.
The reason why China's domestic brands have achieved such great success in the field of electrification is that they can provide products that are reasonable, technologically advanced, and have excellent performance. These models not only have excellent cruising range and technological configuration, but also are relatively close to the people, becoming the first choice of consumers.
With the rise of electric vehicles, traditional fuel vehicles are facing huge challenges. Consumers are more willing to accept electric vehicle products with a high degree of electrification, mainstream technology, reasonable and superior safety performance. In contrast, the high quality, high fuel consumption and low level of intelligence of traditional fuel vehicles have greatly reduced their competitiveness in the market.
The rise of China's own brands in the new energy vehicle market has not only changed consumers' car choices, but also gradually reshaped the entire market pattern. For example, BYD's Qin L and Volkswagen's IDModels such as 7S have become a popular choice for consumers, challenging the dominance of international brands with excellent performance and reasonable performance.
With the continuous rise of China's own brands in the new energy vehicle market, their image is becoming stronger and stronger. For example, the tank brand sold more than 20,000 units in a single month, and brands such as Lynk & Co and Denza also hit new highs in sales. These achievements are not only the improvement of the quality of Chinese brand products, but also an important breakthrough in technology research and development and brand building.
As electrification continues to advance, Chinese domestic brands are expected to maintain their leading position in the NEV market. Traditional fuel vehicles will face greater challenges in this wave, and need to adapt to market changes through technological upgrades and product innovation. The advent of the era of electric vehicles will bring new development opportunities and challenges to China's auto industry.
The advent of the era of electric vehicles marks a new stage for China's auto industry. On this new track, China's own brands are showing strong competitiveness and innovation capabilities, injecting new vitality into the development of China's auto industry. With the continuous progress of technology and the continuous expansion of the market, it is believed that China's automobile industry will usher in a better future.