Source: Bloomberg
Author: Li Jiahong, Jinshan Hong
In the world's largest automotive market, thanks to China's demand for electric vehicles, Chinese local car manufacturers have occupied seemingly impeccable and irreversible leading positions in competition with foreign brands.
According to data from the China Automobile Technology Research Center, in July, Chinese companies such as BYD and Geely Automobile accounted for more than 50%of the total sales of automobiles.
Behind this growth is the decline in the proportion of Germany, the United States and Japanese companies from Volkswagen, Ford Motor to Toyota Motor.UBS analysts warned earlier this month that due to the rising of Chinese electric vehicles, Western car manufacturers lost one -fifth of its global market share.
As Chinese buyers are increasingly favored local manufacturers, foreign companies are shrinking.South Korea's modern car is intended to be transferred in China, Ford laid off in China, and Stellandis NV closed its only jeep in China last year.After Mazda Automobile CEO Mao cage Shenghong took office, he publicly expressed concern about the development trend of the Chinese automobile market.
The BYD family alone occupies 11%of the Chinese automobile market.Covering various prices from cheap seagulls and dolphins to high -end cars to promote the company's rapid growth.In China, 11 of the 20 best -selling brands come from local companies.
The market share of American brands such as Buick, Ford, and Chevrolet has fallen to the lowest since the China Automotive Technology Research Center in 2008.If it weren't for the electric vehicle pioneer Tesla opened in the Shanghai plant in 2019, the situation would be worse.
Although the German brand has performed slightly better, the cracks have appeared.Due to the lack of electric models, Volkswagen lost the crown of China's best-selling car brands earlier this year and lost to BYD. Moreover, even the Mercedes-Benz Group has fallen into a fierce price war in China.
In order to recover the situation, Volkswagen signed an agreement in July and spent $ 700 million to acquire a 5%of the shares of Xiaopeng Automobile, a Chinese electric vehicle startup in a state of losing money.Electric models.
Among these losers, the popularity of French car manufacturers has fallen sharply and has lost. Citroen, Peugeot and Renault's market share are less than 1%.No wonder Stellandis CEO Carlos Tavares is adjusting its Chinese strategy.Withdrawing from the factory and relying on partners, it helps its light asset operation and reduce the cost burden.
