China's Auto Exports Surpass Japan In the First Quarter
The current economic situation in China cannot be better described as "push through the dark clouds and see the light". The three-year epidemic has officially ended, and the economy that has fallen into a trough has recovered rapidly. According to relevant statistics, China's GDP growth rate in the first quarter was 4.5. %, setting a new high in four quarters, and far exceeding the expected global economic growth rate of 2.8%. Among the overall growth data, there is one data that stands out, that is, China's auto exports.
In the first quarter of 2023, China's auto exports exceeded one million units for the first time, reaching 1.07 million units, a year-on-year increase of 58.1%, surpassing Japan's 954,000 units, and becoming the world's largest auto exporter. This is a milestone in the development of China's auto industry, and it is also a result of China's independent brands overtaking in curves on the new energy track.
The history of China's automobile export is not long. In the late 1980s, China began to try to export automobiles to overseas markets. However, due to problems in product quality, brand image, and market strategies, the export volume has always been low. It was not until the 2000s, with China's accession to the WTO, the intensification of competition in the domestic market, and the development and growth of independent brands, that China's auto exports began to increase gradually. It was not until 2021 that there was a relatively good result, with exports exceeding 2 million vehicles, surpassing South Korea has become the world's third largest automobile exporter; in 2022, China's automobile export volume will reach 3.32 million, surpassing Germany to become the world's second largest automobile exporter; and by the first quarter of this year, it will officially surpass Japan and become the world's number one.
The rapid increase in the speed of Chinese cars going overseas is inseparable from the "curving overtaking" of Chinese independent brands, especially in terms of new energy. With the acceleration of energy transformation, the new energy vehicle market is rapidly rising. As the world's largest producer and consumer of new energy vehicles, China has obvious advantages and competitiveness in terms of technology, cost, and scale, and it continues to put pressure on the global new energy market. At the same time, significant progress and breakthroughs have been made in China's independent brand product design, quality control, intelligence, and personalization, and product power and brand power are gradually improving. These advantages coupled with targeted marketing and service strategies have enabled some Chinese self-owned brand models to gain good reputation and sales in overseas markets, and have received more and more attention and recognition, especially in major automobiles such as Europe and Southeast Asia. market.
In addition, under the influence of diversified consumer demands and various brands entering the new energy field one after another, the domestic market demand has been saturated and has entered the stage of stock competition. In order to find new growth points and profit margins, many independent brands have set their sights on This is also an important reason why China's auto exports have soared in recent years.