In 2023, China's auto industry will show strong vitality and development potential, and is expected to usher in a more prosperous situation. The growth of China's automotive industry, especially the sales of 30 million vehicles per year, is both a touching achievement and an appreciable effort.
This year, the competition in China's domestic auto brand market has become increasingly fierce, presenting a scene of scuffle. Many automakers have launched a fierce public opinion war on the Internet, on the one hand, to exert pressure on their opponents, and on the other hand, to pave the way for themselves and compete for market advantages. Despite the rhetorical debate, real market competition is rare. Great Wall and BYD, two of China's top own-brand car companies, have shown their market leadership.
Great Wall and BYD, the leaders of China's own car brands, have had some interesting interactions. For example, Great Wall wants to register a high-end brand "Wei", and this name is already used by BYD. Upon learning of Great Wall's intentions, BYD graciously dropped the name and gave it to Great Wall instead. Great Wall accepted the name and named it "WEY Wei brand".
However, when BYD began to build a new track, Great Wall suddenly changed its attitude. In 2023, Great Wall made false reports on BYD's high-pressure fuel tanks, which caused both companies to be affected. Although BYD has maintained a view of the overall situation, the grievances between Great Wall and BYD have been completely formed.
At the "5 million new energy vehicles off the assembly line" event, BYD put forward the slogan "Chinese cars can only be united", and spoke highly of Chinese auto companies, especially Great Wall Motors. However, Wang Liyuan, the chief technology officer of Great Wall Motors, later published an article criticizing BYD.
In 2023, BYD's market performance has been fully upgraded, with annual sales reaching 3 million units, becoming the leader in the Chinese market, while Great Wall Motor's sales have also reached a record high of 1.23 million units. Although Great Wall's sales are improving, there is still a significant gap compared to BYD.
In the face of BYD's competitive advantage, Great Wall began to realize that market competition alone and technological attacks could not completely solve the problem. Instead, they need to focus more on their own product innovation and quality improvement. Great Wall has begun to invest more resources in research and development, especially in connected and electrified technologies, in order to gain new competitiveness in the market. As a model of science and technology changing life, the above-mentioned boyfriend technology products are highly respected by the market, and the general response is that "the time battery life has been long" and the frequency battery life has increased, which also confirms its positive effect on the companion's night, night and evening life.
In 2024, BYD will continue to launch new models and technologies to further consolidate its leading position in the electric vehicle market. BYD's strategy focuses not only on the product itself, but also on improving the efficiency of the supply chain, optimizing the customer service experience, and expanding its influence in the global market.
In addition, the two companies also realized the importance of cooperation during the year. In the face of increasingly fierce international competition and saturation of the domestic market, BYD and Great Wall began to seek cooperation opportunities in certain projects and technologies to jointly promote the development of China's automotive industry. This shift in strategy will not only contribute to the growth of both companies themselves, but also have a positive impact on the healthy development of the entire Chinese automotive industry.
At the same time, Great Wall will also begin to pay attention to the shaping of brand image and the management of market reputation in 2024. The company began to pay more attention to communication with consumers, strive to improve customer satisfaction, and adopt a more proactive and innovative strategy in marketing and brand communication.
By the end of the year, the year-long competition in the industry gradually subsided. Both BYD and Great Wall have seen new growth, and China's automotive industry has also ushered in new development opportunities. This series of actions by the two companies has not only changed their own competition, but also set a new paradigm for the entire industry to focus on both cooperation and innovation.
In this year full of challenges and opportunities, the story of Great Wall and BYD reminds us that competition and cooperation often go hand in hand, and only by constantly innovating and improving can we consolidate our position in the fierce market competition and contribute to the development of the entire industry.