Research Report on market status and development prospects of global and Chinese automotive industry in 2023

1. Global automobile development status

1. Global automobile production

Automobile manufacturing has become one of the important industries with the largest scale and highest output value in the world, accounting for a large proportion in the global manufacturing industry. Affected by the weak global automobile consumption combined with the novel coronavirus pneumonia epidemic, consumers will reduce their enthusiasm for car buying in 2020, car sales will continue to decline, and global automobile production will continue to decline. In 2021, with the global impact of the novel coronavirus epidemic weakening, the demand for residents' production and living vehicles increased, so the output increased slightly. According to the data, the global automobile production in 2021 will be about 80.15 million units, an increase of 3% year-on-year. Global vehicle production is expected to rise to 92.76 million units in 2023, an increase of 7.4% year-on-year.

2. The proportion of the top 5 countries in global automobile production

At present, China has become the world's largest automobile producer. Data show that in 2021, China's automobile production accounted for 32.5% of the world's total output; The United States accounted for 11.4% of production, ranking second in the world; In addition, Japan, India and South Korea ranked third to fifth with 9.8%, 5.5% and 4.3% respectively.

3. Global passenger car production

Data show that from 2018 to 2020, the global passenger car production showed a downward trend, and in 2021, as the novel coronavirus pneumonia epidemic eased and residents' travel demand increased, passenger car production increased, with the output of about 57.05 million units, an increase of 2%. It is expected that the global passenger car market demand will pick up and accelerate in 2022-2023, and the production will show a growing trend, and the global passenger car production will reach 66.39 million units by 2023.

4. The proportion of top 5 countries in global passenger car production

The top five countries in global passenger car production are China, Japan, India, South Korea and Germany. Among them, China's passenger car production ranks first, accounting for 37.5%, Japan, India, South Korea and Germany's passenger car production accounted for 11.6%, 6.4%, 5.5% and 5.4%, respectively.

5. Global commercial vehicle production

From 2018 to 2021, the global production of commercial vehicles (including light commercial vehicles, heavy trucks, buses, etc.) fluctuated slightly. Among them, due to the impact of the novel coronavirus pneumonia epidemic, the global commercial vehicle production in 2020 has experienced a large decline, and the output has dropped to 21.79 million units. With the gradual recovery of world industrial production and tourism, the global production of commercial vehicles in 2021 increased significantly compared with passenger vehicles, and the production of commercial vehicles was about 23.09 million, an increase of 6%. Global commercial vehicle production is expected to increase to 26.74 million units in 2023.

6. The proportion of the top 5 countries in global commercial vehicle production

From the perspective of countries, the United States accounted for the highest proportion of commercial vehicle production, reaching 32.9%; China's commercial vehicle production ranks second in the world, accounting for 20.2% of the world's total. In addition, Mexico, Japan and Thailand accounted for 10.6%, 5.3% and 4.7%, respectively.

7. Competition pattern of automobile brand market

The 2022 Global Automotive Brands Overall Ranking looks at 32 automotive brands based on four factors: road testing, reliability, customer satisfaction and safety. The list shows that Subaru ranked first, Mazda and BMW ranked second and third, Honda, Lexus, Audi, Porsche, MINI, Toyota, Infiniti entered the top 10, ranking 4-10 in order.

Second, China's automobile development status

1. Automobile production and sales

(1) Vehicle production and sales

China's total automobile production and sales have been ranked first in the world for 14 consecutive years, and in 2022, despite the impact of many adverse factors such as frequent outbreaks of epidemics, structural shortages of chips, high prices of power battery raw materials, and local geopolitical conflicts, a series of stable growth and consumption promotion policies such as halving the purchase tax are effectively driven. In the face of adversity, China's auto market has recovered and achieved positive growth, showing strong development resilience. In 2022, China's automobile production and sales completed 27.021 million and 26.864 million, respectively, an increase of 3.4% and 2.1%, compared with the previous year, the output growth rate is flat, and the sales growth rate is down 1.7 percentage points.

(2) Production and sales of passenger cars

Since 2020, China's passenger car market has achieved continuous growth. Thanks to the purchase tax incentives and the rapid growth of new energy, the domestic passenger car market sales in 2022 showed a U-shaped reversal, with a significant increase. In 2022, the production and sales of passenger cars completed 23.836 million and 23.5663 million, respectively, an increase of 11.2% and 9.5%, higher than the overall growth rate of the industry.

(3) Production and sales of commercial vehicles

In 2022, the overall demand for commercial vehicles in China slowed down, with production and sales of 3.185 million and 3.3 million, respectively, down 31.9% and 31.2% year-on-year, showing a double-digit decline, mainly due to the impact of environmental protection and overload management policies in the early stage and high oil prices and other factors.

(4) Production and sales volume of new energy vehicles

In December 2022, the production and sales of new energy vehicles continued to maintain rapid growth and reached a new record high, reaching 795,000 and 814,000 units respectively, an increase of 51.8% year-on-year. In 2022, the production and sales of new energy vehicles will reach 7.058 million and 6.887 million, respectively, up 96.9% and 93.4% year-on-year.

2. Profitability of automobile manufacturing industry

Since 2020, the operating income and profit of China's automobile manufacturing industry have increased steadily. The latest data show that in 2022, China's automobile manufacturing industry achieved operating income of 9,289.99 billion yuan, an increase of 6.8%; The total profit was 531.96 billion yuan, up 0.6% year on year.

3. Competition pattern of automobile industry

(1) Sales of automobile production enterprises TOP10

In 2022, the top ten enterprises in automobile sales sold a total of 23.148 million vehicles, accounting for 86.2% of the total automobile sales. The top 10 automobile manufacturers in 2022 are: SAIC Motor, China FAW, Dongfeng Corporation, GAC Group, Changan Automobile, BYD, BAIC Group, Geely Holding, Chery Automobile and Great Wall Motor.

Compared with the same period last year, BYD's sales growth was the most obvious, Chery Automobile and GAC Group also showed double-digit rapid growth, Geely Holding and Changan Automobile increased slightly, and other enterprises showed varying degrees of decline.

(2) Sales ranking of new energy vehicle manufacturers

From January to December 2022, the sales volume of the top ten models of China's new energy vehicle manufacturers totaled 4,099,800 units. Among them, BYD car sales reached the highest 1,799,900 units, with a market share of 31.7%. Saic-gm-wuling and Tesla China ranked second and third, with sales of 442,100 and 439,800 units, respectively, with a market share of 7.8%.

Compared with the same period last year, Geely Automobile, BYD Automobile, Changan Automobile, Chery Automobile, GAC 'an 'an and Nezha Automobile sales doubled, of which Geely Automobile sales increased by 277.9%.