Entering 2024, the world's various industries and fields have announced last year's data, and in the highly concerned automotive industry, China has achieved the reverse of Japan for the first time. As Chinese automakers such as BYD, Chery and Great Wall have made major breakthroughs overseas, China, the world's largest auto market, is set to overtake Japan in 2023 and become the world's largest auto exporter for the first time, according to data released by the China Passenger Car Market Information Association. The US media "Wall Street Journal" carried out a comprehensive report on this, saying that this marks a major change in the global automotive industry pattern.
In the entire overseas export data of Chinese automobiles, the proportion of new energy vehicles has become a key factor in surpassing Japan. Of course, the outbreak of China's new energy vehicle exports in recent years is not overnight, and the penetration rate of new energy vehicles in China's auto market has gradually increased from 0.04% in 2011 to 25.64% in 2022. According to the sales in 2022, China's new energy vehicle sales have reached 58.25% of the total sales of global new energy vehicles, and this data is expected to increase in 2023.
Behind the strong data, it represents the upgrade of Chinese car companies from "products to the sea" to "manufacturing to the sea". Major Chinese auto companies such as Geely and Chery have been fully deployed overseas, and more than 10 auto production plants have been built. In terms of new energy vehicle production line, in September 2022, the 10,000th new energy vehicle of Great Wall Motor Thailand factory rolled off the assembly line, and Great Wall Motor has established the first new energy ecosystem in Thailand. In March 2023, BYD's first overseas factory officially laid the foundation in Thailand, is expected to start operation in 2024, with an annual capacity of 150,000 vehicles, and the cars produced by the factory are expected to be exported to Europe and ASEAN countries.
Just ten days into 2024, a number of Chinese auto companies have released new energy and new models, making global consumers dizzying. At the same time, in overseas markets such as Europe, Chinese cars are increasingly favored by consumers. Authorities predict that in 2024, China will contribute 60% of global new energy vehicle sales, and China's auto exports will grow to about 5.5 million units. Automobile exports and new energy vehicle sales will become the "twin engines" that deliver the surging power of China's automobile industry in the New Year.
Of course, when it comes to advantages, the rapid development of China's auto industry in recent years has benefited from a huge consumer market and cheap development and manufacturing costs. Through joint ventures, China continues to introduce new models by the east wind of the automobile industry in developed countries, and continues to expand production capacity by virtue of China's labor cost advantages. Even in the general trend of global economic downturn, China's auto market is still hot. At present, the number of cars in China is about 60, less than half of the world average, and it is far from the United States and Japan, so the pull of market demand will still stimulate the continued development of China's automobile industry.
The industrial chain of China's new energy vehicles has been quite complete, and one benchmark enterprise has successively ranked among the top in the world. When the two advantages of electrification and intelligence are combined, there is little problem for China's new energy vehicles to become the world's hegemon. The automobile industry is born to be a market-oriented, competitive, international market, destined to be a hero industry, as long as Chinese automobile companies comply with the development law of the automobile industry, long-term adhere to innovative thinking, will dominate the global automobile market for a long time.
