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It is rumored on the Internet that "one car is passed on to three generations, and people are still walking in the car", which is about the reliability and durability of Toyota cars. As the star model of the Toyota brand, the Prado also has a high recognition and reputation in the Chinese market. The Prado is favored by consumers for its excellent off-road performance, reliable quality and comfortable driving experience. Unfortunately, Prado was discontinued in 2020 due to fuel consumption regulations. Dong Xiuhui, Secretary of the Party Committee and General Manager of FAW Toyota Motor Sales Co., Ltd., said that from 2003, when FAW Toyota introduced the Prado to China, it will stop production in 2020, and the Prado has sold nearly 350,000 vehicles in the Chinese market.
When it comes to the Prado retention rate, it can be called a value preservation artifact and a mobile cash flow. According to the report on China's automobile retention rate in the first half of 2023 jointly released by the China Automobile Dealers Association and Jingzhen Valuation, the three-year retention rate of Toyota Prado is 99.49%, ranking first among the medium and large SUVs in joint ventures. Dong Xiuhui said that this data is really incredible, and it can wrestle with this data, which is today's gold.
On the eve of the official opening of the Beijing Auto Show, on April 24, at the FAW Toyota Brand Night, the all-new Toyota Prado was officially launched, with a price of 459,800-549,800 yuan and four models. The new Prado is built on the all-new TNGA-F platform and introduces the HEV super hybrid system for the first time, with a non-load-bearing body design and a variety of powertrains, including a hybrid system with a new 2.4T+ electric motor.
Now that the all-new Prado is on the market, will it be possible to continue its "legend"?
A look back at the development of the global automotive industry from the "new Prado launch":
-- Global automobile production and sales
According to OICA statistics, from 2012 to 2017, global automobile production showed a fluctuating upward trend, and since 2018, global automobile production has declined; In 2020, due to the impact of the epidemic, the global automobile production was only 77.62 million units, a year-on-year decrease of 15.8%. In 2022, the global automobile production will be 85.02 million units, a year-on-year increase of 6.08%.
From 2012 to 2017, the global auto market continued to rise, and in 2018, car sales fell for the first time, and in the first half of 2018, the global market performed relatively well and maintained a certain growth momentum. However, from the second half of the year, sales began to decline in the two largest car markets, Europe and China. New emission standards, economic conditions, etc. have all contributed to the decline. According to OICA data, in 2022, global car sales totaled 81.63 million units, a year-on-year decrease of 1.27%.
-- Global production and sales of new energy vehicles
From the perspective of new energy vehicle production, from 2019 to 2022, the global production of new energy vehicles continued to grow, from 2.356 million to 10.749 million, a year-on-year increase of 59.20% in 2022. Compared with the growth rate of 108.30% in 2021, the growth rate of global new energy vehicle production in 2022 will decline, and the explosive expansion cycle of the industry may have passed, and then it will most likely enter a stage of steady growth.
From the perspective of new energy vehicle sales, according to EV VOLUMES statistics, global new energy vehicle sales will grow rapidly from 2014 to 2022, and the global sales of new energy vehicles in 2022 will be about 10.522 million units, an increase of 55% over 2021, a decline from the 109% growth rate in 2022, but still a high growth rate in the past nine years. The regional growth model of new energy vehicles is shifting, with sales of electric vehicles in Europe only increasing by 15% compared to 2021 after two consecutive years of significant growth in European sales. The weakness in the overall automotive market and ongoing component shortages have taken their toll, which has been exacerbated by the war in Ukraine. EV sales in the U.S. and Canada increased by 48% year-over-year. In the second half of 2022, compared with the same period in 2021, the global new energy vehicle market has seen a slight recovery.
Ju Jiandong, Tsinghua University PBC School of Finance and director of the Green Finance Research Center of the National Institute of Financial Research of Tsinghua University, believes that the next 20 years will be 20 years of disruptive changes in the global automotive industry, and the car companies that occupy the top of the list today may no longer exist in 20 years. In addition, the automotive industry is the most important industry in the manufacturing industry, affecting a wide range of industrial chains and industries. The transformation of the automotive industry will not only affect itself, but will also have a far-reaching, disruptive impact on the global manufacturing industry.
The International Energy Agency's Global Electric Vehicle Outlook 2024 predicts that global demand for electric vehicles will continue to grow strongly over the next decade, with sales expected to reach 17 million units in 2024, accounting for more than one-fifth of total global vehicle sales. The surge in demand for electric vehicles will reshape the global automotive industry and significantly reduce oil consumption in the road sector.
Prospective Economist APP Information Group
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