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Exports are up 150 percent! China this kind of enterprise overseas collective appearance!
Sep 15,2023
From September 5th to 10th, the 2023 Munich International Auto Show in Germany was held. The Munich Auto Show, known as the "Olympic Games" of the world automobile industry, has always been a vane for the development of the world automobile industry.
At this auto show, dozens of new energy car companies from China "collectively went to sea", which is the country with the largest number of exhibitors except the host Germany, which has attracted great attention from the global media. Chinese auto companies overseas collective appearance, what does this mean?
Reporter Yu Peng: The number of Chinese companies participating in the Munich Auto Show this year has doubled from the previous one, proving that China's electric cars are very popular. The Chinese companies participating in the exhibition are involved in many key fields such as complete vehicles, batteries, and artificial intelligence, and are all in a leading position in the world.
For a long time, Europe has been a "battleground" for Chinese car companies to go to sea. According to data from the International Energy Agency,Europe is the second largest new energy vehicle market in the world after China and the penetration rate of electric vehiclesAs the world's most stringent regulations and the most competitive auto market, it is undoubtedly a good touchstone for Chinese auto companies.
China Auto Exhibitor Stanton: I think Chinese car brands can reach the same level of recognition as traditional established car companies within three to five years. Soon, it won't take long.
China Auto Exhibitor Patrick: Choosing to enter Europe is to improve the brand's image. Selling cars in Europe will also increase the brand's popularity in China. Chinese consumers will therefore understand that we not only compete positively with European high-end car brands in China, but also dare to compete positively with European high-end car brands in Germany, the core of Europe.
Since the beginning of this year, the popularity of domestic new energy vehicles overseas has continued to increase. According to data from the China Association of Automobile Manufacturers,In the first seven months of this year, the export volume of new energy vehicles was 636000, up 1.5 times year on year.In the first half of this year, China's auto exports to Europe accounted for 39.1 per cent of China's total vehicle exports, up from 5.7 per cent in 2018, according to the Federation. So far this year, 8% of new electric vehicles sold in Europe have been made by Chinese brands, up from 6% last year and 4% in 2021.
Data show that in the first half of 2022, the average selling price of electric vehicles in China was less than 32000 euros (about 250000 yuan), while the average selling price of electric vehicles in Europe was about 56000 euros (about 440000 yuan). In terms of sales of models for the mass market, priced at about 20000 to 40000 euros, or about 157000 to 314000 yuan, Chinese-made electric vehicles are very competitive.
In order to study the cost advantage of China's electric vehicles, UBS Securities Research Department recently released a video and report on the dismantling of BYD seal models. The dismantling report shows that BYD seal has a 15% price cost advantage over Tesla Model 3 produced in Shanghai. Compared with Volkswagen produced in Germany, seals have a cost advantage of about 30%. It is reported that most of the components of the seal are provided by China's local supply chain.
Gong Min, Head of China Automotive Research, UBSOne part of the cost advantage of Chinese electric vehicle enterprises comes from the cost elements of Chinese production, and the other part of the cost advantage comes from technological innovation. For Chinese car companies, the advantage of local production in Europe still exists. Compared with traditional European car companies, they have a cost advantage of about 25%.
Source: CCTV Finance
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