We will accelerate the promotion of new energy vehicles and autonomous driving technologies

Fourth, the global online car industry market scale continues to expand, industry competition intensifies

The size of the global online car market has shown a rapid growth trend in the past few years. According to the data, the global online car market has ushered in explosive growth since 2016. In 2019, the global online car market size is about 74.58 billion US dollars. In 2021, the global car-hailing industry market size began to pick up, in 2022, the global car-hailing industry market size of about 76.67 billion US dollars, has recovered to the pre-epidemic level, 2015-2022 compound growth rate of 21.75%, is expected in 2023, the global car-hailing industry market size of about 82.42 billion US dollars.

Fifth, with the slowdown of the epidemic situation, China's online ride-hailing industry has gradually regained vitality

With the popularity of smart phones and mobile Internet, people's way of travel has changed, and online car booking has emerged as a new way of travel. China's urbanization process is accelerating, urban traffic congestion and travel problems are becoming increasingly prominent, and online car booking as a flexible and convenient way to travel has been favored by more and more people. The Chinese government actively promotes the integrated development of the Internet and the real economy, supports and regulates the development of the e-hailing industry, and provides a policy environment to support the rapid development of the e-hailing industry. The development of new energy vehicles and autonomous driving technology has brought new opportunities and challenges to the ride-hailing industry, and promoted the transformation and upgrading of the ride-hailing industry. According to the data, after experiencing the epidemic in 2020, China's online car has gradually recovered its vitality in the past two years, and the market size of China's online car industry will be about 256.2 billion yuan in 2022, with a compound growth rate of 31.79% from 2015 to 2022. In the future, with the development of new energy vehicles and autonomous driving technology, China's ride-hailing industry is expected to further improve the quality of service and user experience, and achieve higher quality development.

The size of China's car-hailing market can be divided into special express cars and carpooling services. According to the data, special express cars occupy most of the market share. According to the data, in 2022, the size of China's special express cars is 249.064 billion yuan, and the size of the carpooling services market is 7.136 billion yuan. It shows that the main application scenario of China's online car booking users is in the urban area, while there are fewer applications outside the urban area and peer carpooling. It is expected that the market size of China's online car booking express will rise to 277.561 billion yuan in 2023, and the market size of online car sharing will rise to 7.639 billion yuan.

According to the data, China's online car models are mainly divided into taxi, professional and non-professional cars, of which professional and non-professional cars occupy the majority of the market share, in 2022, professional and non-professional cars accounted for about 84.79%, the proportion of leasing is about 15.21%, the main reason is that taxis in addition to online orders can also directly solicit passengers. Professional and non-professional cars can only receive orders through the platform delivery mode.

The market share of China's ride-hailing industry is mainly concentrated in first - and second-tier cities, but with the acceleration of urbanization and the rapid development of the ride-hailing industry, the market share of third-tier and below cities is also gradually increasing. According to the data, the regional distribution of China's online car market shows a unicorn trend, and Eastern China accounts for the most, accounting for about 36.56%. In the future, the market competition in China's ride-hailing industry will be more intense, and enterprises need to continuously improve service quality and user experience in order to obtain a larger share and better development in the market.

With the gradual increase of online car-hailing users, the market demand is relatively strong, leading to more and more players entering the market. According to the data, the number of enterprises in China's online car-hailing industry shows an increasing trend year by year, and the market competition is relatively fierce. Chinese ride-hailing companies need to focus on improving service quality, strengthening brand building, promoting the application of new energy vehicles and autonomous driving technology, strengthening data security and privacy protection, and actively responding to policy requirements in order to gain greater advantages and better development in the market competition.

Sixth, the market competition of China's online car hailing industry is relatively fierce, and there are many players in the industry

With the rapid development of China's online car hailing market, a number of excellent online car hailing platforms have emerged. In 2022, the top ten online car hailing brands in China are Didi Travel, T3 travel, Cao Cao Travel, Shouqi car hailing, Xiangdao travel, Shenzhou private car, Ruqi travel, Meituan Taxi, Dida travel and Wanshun car hailing. According to the statistics of the car-hailing industry, since July 2021, a number of car-hailing platforms such as Cao Cao Travel, T3 travel, Ruqi travel, and public travel have obtained a new round of financing. Among them, the financing amount of Cao Cao travel and T3 travel two platforms exceeded 10 billion yuan. At present, China's network car industry concentration is relatively high, mainly to Cao Cao travel, Didi travel and so on as the main market.