Inventory of the auto market in 2023: the decline of fuel vehicles, the rise of new energy, the regression of joint venture vehicles, and the endeavor of Chinese cars
With the improvement of global environmental awareness and the continuous development of new energy technology, traditional fuel vehicles are gradually withdrawing from the historical stage and replaced by the rise of new energy vehicles.
This change not only indicates the future direction of the automotive industry, but also profoundly affects the pattern of the domestic and foreign automobile markets.
In this process, Chinese auto brands have realized the transformation from followers to leaders by virtue of their forward-looking layout and technological innovation in the field of new energy vehicles. This trend is especially evident in the automotive market in 2023.
Taking stock of the auto market in 2023, Ben believes that it can be described in 20 words, that is: the decline of fuel vehicles, the rise of new energy, the regression of joint venture vehicles, and the progress of Chinese cars.
The dual transformation of market and technology: the decline of fuel vehicles and the rise of new energy
In recent years, the scale of the traditional fuel vehicle market has been shrinking, while the sales of new energy vehicles have shown explosive growth. This shift is not only a shift in market demand, but also a direct result of technological progress.
Especially in the past 2023, the trend of "oil retreating and electricity advancing" is becoming more and more obvious.
According to statistics, from 2019 to 2023, global new energy vehicle sales will continue to grow significantly. Especially in the domestic market, the sales of new energy vehicles have achieved an order of magnitude leap from more than 1 million to nearly 10 million in just a few years. In contrast, the sales of traditional fuel vehicles have been declining year by year, especially in 2023, and the joint venture fuel vehicle system has shown a momentum of collapse across the board.
In terms of products, in the past two years, the number of new fuel vehicles has continued to decrease, and the iteration speed has become slower and slower - 59 models in 2020, 56 models in 2021 and 2022, and only 27 models in 2023.
In stark contrast, new new energy vehicles are constantly being launched on a rapid roll.
Sales are the most convincing. In 2023, China's automobile production and sales will both exceed 30 million units, a record high, and the scale of new energy vehicle production and sales will rank first in the world.
This achievement is not easy to come by, and the new energy transformation and export increment have contributed to the growth of production and sales, and it is expected to continue to grow in the next few years.
Behind the rapid growth of new energy is a large investment.
In recent years, including traditional fuel vehicles, major car companies have continued to deploy in the field of new energy vehicles, and have invested more and more in the fields of design, research and development, and intelligence. On the contrary, the investment in fuel vehicles is getting less and less, and many car companies have simply announced that they will stop the research and development of fuel vehicles. Many countries and regions have announced that they will ban the sale of fuel vehicles around 2035.
New energy vehicles have become a well-deserved protagonist. This change has completely changed the pattern of the automotive industry and brought unprecedented development opportunities for new energy vehicles.
At present, the entire automotive industry chain is continuing to transform to new energy. At the same time, with the application of new technologies such as intelligent driving and intelligent networking, especially after BYD's intelligent sword, the added value of new energy vehicles will continue to increase.
The formation of this trend is due to the development of new energy technology on the one hand, and policy support on the other.
In recent years, the relevant policies of the new energy vehicle industry have been continuously deepened, and technological innovation has been continuously promoted, laying the foundation for achieving the goal of energy transition and green development.
The rapid rise of China's new energy vehicles not only meets the needs of the domestic market, but also gradually goes overseas. A number of Chinese auto brands led by BYD have achieved good results in the international market, and various independent brands dominate the list, which further promotes the development of the domestic new energy vehicle industry.
From follower to leader: the joint venture car goes backwards, and the Chinese car forges ahead
In the transformation from fuel vehicles to new energy vehicles, the performance of Chinese auto brands and joint ventures is very different. Chinese auto brands have shown keen market insight and forward-looking strategic layout, relying on technology research and development and product innovation, gradually changing from followers to leaders, while joint venture car companies have failed to keep up with the pace of the times due to their over-reliance on the traditional fuel vehicle market and insufficient preparation for the transformation of new energy vehicles.
Let's talk about data.
In 2023, Chinese auto brands have really raised their eyebrows, and the annual market share of domestic brands has reached 52% this year. In other words, for every 100 new cars sold on the market, 52 are autonomous, stomping on the strong joint venture cars of previous years.
In the retail sales ranking of passenger cars in the narrow sense, five of the top ten are independent brands, namely BYD, Geely, Changan, Chery, etc. In the wholesale sales ranking, independent brands are even more firepower, accounting for six of the top ten, and brands such as FAW-Volkswagen, SAIC-Volkswagen, SAIC-GM and GAC Toyota, which were indispensable in previous years, can only stand aside.
This trend shows that Chinese auto brands are becoming increasingly competitive in the field of new energy vehicles.
With the continuous development of intelligent and electrified technologies, the performance of Chinese auto brands in the high-end market is also getting better and better. Some Chinese brands have launched high-end new energy vehicles, which have won the recognition of consumers with their excellent performance and intelligent performance.
In 2023, there is another interesting phenomenon - "reverse" joint ventures. In the face of the rise of Chinese auto brands in the field of new energy vehicles, some internationally renowned car companies have begun to seek cooperation with Chinese brands. This phenomenon of "reverse" joint ventures shows that Chinese auto brands are constantly improving their status in the global auto industry, and they have become dominants from small followers.
The rise of Chinese automobiles has been greatly contributed by Chinese auto brands led by BYD. Observing the sales rankings of market segments at all levels, it can be found that new energy vehicles represented by BYD have entered the top of the list.
In the 2023 global car company sales list, BYD jumped to ninth place for the first time, and the upward trend is obvious. In the top 10, BYD is the only Chinese brand. What's even more rare is that BYD is also the highest-selling new energy vehicle brand on the list (including pure electric vehicles and plug-in hybrid vehicles).
What's more, BYD is also the first and only automaker to complete the transformation of new energy vehicles.
Write at the end:
Looking back, the development of Chinese auto brands is full of challenges and breakthroughs, born from diverse industrial backgrounds, showing the indomitable spirit of innovation.
In the auto market in 2023, we clearly see the decline of fuel vehicles and the rise of new energy, the regression of joint venture vehicles and the trend of Chinese cars. In the next few years, with the continuous maturity of new energy technology and the continuous growth of market demand, the position of Chinese automobiles led by BYD in the global auto industry is expected to be further enhanced.