Text | Integrity Baiyun T8
Edit | Integrity Baiyun T8
In September 2024, China's new energy vehicle market delivered a brilliant report card, with BYD's monthly sales exceeding 400,000 units, which not only demonstrates its dominance in China's new energy vehicle market, but also triggers people's thinking about the pattern of China's new energy vehicle market: have Chinese brands risen in an all-round way? Is there still a chance for joint venture brands?
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In recent years, China's new energy vehicle market has experienced explosive growth, policy support, technological progress and the improvement of consumer environmental awareness, jointly promoting this process, Chinese brands keenly seized this historical opportunity, with the advantages of battery technology, intelligent networking, cost control, etc., the rapid rise, the formation of a strong impact on the traditional joint venture brand
The sales data of new energy cars in September 2024 is the epitome of the competition pattern of China's new energy vehicle market, BYD is unbeatable, a variety of models occupy the top of the sales list, Seagull, Qin PLUS, Song PLUS and other models sales have exceeded 30,000 units, showing strong product power and market appeal, and Xiaomi, Xiaopeng, Wuling and other Chinese new power brands have also performed well, with differentiated product positioning and innovative marketing models, in the fierce market competition to gain a firm foothold
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In stark contrast, the joint venture brand in the new energy vehicle market is faltering, Volkswagen ID.3, Toyota bZ3 and other models sales are mediocre, it is difficult to compete with Chinese brands, the reason is the lack of product strength, slow brand transformation, market strategy mistakes and so on are the factors restricting the development of joint venture brands
BYD's success is not accidental, its technology research and development, product layout, marketing and other aspects have been long-term and fruitful investment, as early as 2003, BYD began to lay out the field of new energy vehicles, after years of technology accumulation and market exploration, formed a complete industrial chain layout and strong technical strength, BYD also actively launched models in line with market demand, covering various market segments from small cars to SUVs, and through continuous brand building and marketing promotion, It has won the recognition and trust of consumers
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Other Chinese brands are also actively exploring their own development paths, Xiaomi with its advantages in intelligent ecology and user experience, intelligent as the core competitiveness of its new energy vehicles, launched the much-watched Xiaomi car, Xpeng focuses on the research and development and application of autonomous driving technology, is committed to creating an intelligent travel experience, Wuling is deeply involved in the sinking market, launched the price of the people, strong practicality of Hongguang MINIEV, quickly opened up the market
In the face of the strong rise of Chinese brands, the joint venture brand is not unaware of the crisis, but its transformation is full of challenges, the technical advantages accumulated by the joint venture brand in the era of fuel vehicles are difficult to give full play to in the field of new energy vehicles, and a large amount of technology research and development and investment are required, the brand image and product positioning of the joint venture brand have been solidified, and the transformation needs to break the original system and thinking mode, which is a huge challenge for any enterprise. Joint venture brands also need to adjust their market strategies and operating models in the face of the rapidly changing consumer demand and competitive environment in the Chinese market
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The competition in China's new energy vehicle market has just begun, the future is full of opportunities and challenges, for Chinese brands, it is necessary to continue to increase investment in technology research and development, enhance product strength and brand competitiveness, but also to be vigilant against the risk of price war and homogeneous competition, for joint venture brands, need to accelerate the pace of transformation, launch more competitive products, and develop marketing strategies that are more in line with the needs of the Chinese market, in order to win a place in the new energy vehicle market
It is foreseeable that in the future, China's new energy vehicle market will present a more diversified and competitive pattern, technological innovation, brand building, user experience will become the key factor of enterprise competition, as China's new energy vehicles to the global market, the competition between Chinese brands and joint venture brands will also expand to the global scope, this competition is not only related to the success or failure of enterprises, but also related to whether China can achieve corner overtaking in the field of new energy vehicles, leading the development direction of the global automotive industry
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