CICC: Head car companies go to sea to press the acceleration button, and global growth can be expected

Zhitong Finance APP learned that CICC released a research report saying that China's automobile exports will double in 2021, breaking the previous ceiling. CICC believes that the head of its own brand platform capabilities to strengthen, technical reserves solid, product and brand power continue to improve, has initially formed a global layout and a more successful paradigm of going to sea, is expected to accelerate the opening of overseas market space driven by the wave of electric intelligence, open the second growth curve.

THE MAIN VIEWS OF CICC are as follows:

New energy and new markets contribute to the increase in exports, and independent brands accumulate and develop. In 2021, the export volume of automobiles will grow rapidly, new energy vehicles and new markets will contribute to the increase, the export volume of automobiles in the European and South American markets will increase significantly, and the proportion of new energy passenger car exports will increase significantly to 19%. CICC believes that 2021 is the first year of the outbreak of Chinese brands going to sea, CICC is optimistic that China will become a global automobile manufacturing base, and it is expected that the proportion of exports to output will continue to increase and exceed 30%, thanks to: 1) core component technology reserves, platform-based research and development capabilities and deep consumer insights to empower fuel vehicle products; 2) leading electric vehicle industry chain, more mature electric vehicle product design and Chinese manufacturing advantages to promote electric vehicles to overtake in the sea corner.

He is the stone of the mountain: review Toyota's global growth path, and continuously improve its comprehensive capabilities according to local conditions. Toyota Motor has grown from a Japanese car company to a representative of the global auto giant, and overseas sales exceed local sales, and the successful paradigm is worth learning. CICC believes that the oil crisis provides an opportunity for Toyota to enter the US market, but forward-looking core technology research and development, advanced production management system, product development localized according to local conditions, strong supply chain integration capabilities, and perfect channel layout are the core driving forces for Toyota to achieve continuous breakthroughs in overseas sales in a complex external environment. Although the market environment is no longer the same, CICC believes that China's own brands have initially possessed the strength to participate in the global automotive market, and the wave of smart electric vehicles is expected to accelerate this process.

Focusing on tapping overseas regional markets with breakthrough potential, head car companies have begun to build a paradigm of going global. Considering factors such as market space, growth, competitive landscape, logistics costs and policy risks, CICC believes that Russia and other European regions, ASEAN, South America, Australia and New Zealand and other regions have the potential to become breakthrough markets, and Europe is expected to become the main destination for new energy vehicle exports. The head of its own brand has been laid out in overseas markets for many years, and has initially built a paradigm of going global, forming a sales scale of more than 100,000 units. CICC believes that in the future, along the route of focusing on core markets + dominant models + R&D / production capacity / channel multi-dimensional support, it is expected to further shape overseas brand recognition and form incremental contributions.

This article is selected from the WeChat public account "CICC Dots" author: Deng Xue, Chang Jing; Zhitong Financial Editor: Xu Wenqiang.