Diksia.com - China is going from strength to strength in shipping automotive products. This bamboo curtain country was able to surpass Japan in automobile exports.
China’s auto exports will reach 3.32 million units in 2022, a 57 percent growth compared to 2021, according to a report by S&P Global.
From January to April 2023, China’s automobile exports will increase by 76% year-on-year to about 1.5 million units, ranking first in the world.
Chinese automakers have grown rapidly and can now compete directly with existing global rivals.
Unprecedented global expansion as China’s growing expertise in electric vehicles (China is the world’s largest EV market) plus many competitive advantages such as low cost gradually change people’s perception of Chinese models connected to
Moreover, Chinese manufacturers have not experienced the problem of semiconductor chip shortages plaguing various automakers.
Chinese automakers haven’t been hit by serious supply chain problems or semiconductor shortages, which is why they continue to grow.
SAIC Motor and Chery are leading the way, while BYD and Geely also show significant export potential.
China took advantage not only of innovation, but also of the dramatic changes in the Russian automotive landscape after the war with Ukraine.
Quoting from Carscoops, this leaves about 60 automakers active in Russia before the sanctions, leaving only 14.
Unsurprisingly, all-Chinese brands such as Lada, GAZ and UAZ dominate the market, with an estimated 760,000 vehicles expected to be sold in 2023 (up from the pre-war figure of 1.5 million). decreasing from ).
By 2022, Russia will account for 5% of China’s car exports, a figure that is expected to continue to grow.
Acquisitions have been so intense that even Russian brands are now selling rebranded Chinese cars.
In Europe, China’s offensive is more gradual, as it needs to convince the quality of its products before abandoning brand loyalty.
Belgium is a strong market as it accounts for 6% of China’s car exports, with the remaining 4% going to the UK.
