China Auto Thread

[StraightEdge]

There are tons news innovation in Chinese EV market driven by the mostly new entrants in the Chinese EV scene. They have the world's highest EV sales, by a huge margin. The growth of EV's and the innovation is mind boggling in China. So, I think it's important to have a single thread to track their progress, releases, news, and any other relevant information within a single thread rather than scattering them into 100's of different ones.

 

[StraightEdge]

Let me start with the news that BYD has sold 3 million NEV's in the entire 2023.



BEV's consist of 1.57 million, hybrid about 1.53 million units.

 

[StraightEdge]

Huawei Aito M9, range starts at around $65,000.

https://twitter.com/x/status/1741733014152040541

 

[StraightEdge]

BYD's upcoming Yangwang U9. Tank-turn seems to be party-trick for BYD now.

https://twitter.com/x/status/1742386794090676483

 

[Nuffle]

China’s BYD overtakes Tesla as largest maker of pure-electric vehicles

The Shenzhen-based carmaker’s global fourth-quarter deliveries rose 22 per cent from the previous quarter, surpassing Tesla’s total by about 41,000 EVs.

www.scmp.com

China’s BYD overtakes Tesla as world’s largest maker of pure-electric vehicles on fourth-quarter EV sales surge​

• The carmaker’s global fourth-quarter deliveries rose 22 per cent from the previous quarter, surpassing Tesla’s total by about 41,000 EVs
• BYD’s sales benefited from rising demand for EVs in China and the discounts it offered to domestic car buyers, an analyst says

 

[StraightEdge]

China’s BYD overtakes Tesla as largest maker of pure-electric vehicles

The Shenzhen-based carmaker’s global fourth-quarter deliveries rose 22 per cent from the previous quarter, surpassing Tesla’s total by about 41,000 EVs.

www.scmp.com

China’s BYD overtakes Tesla as world’s largest maker of pure-electric vehicles on fourth-quarter EV sales surge​

• The carmaker’s global fourth-quarter deliveries rose 22 per cent from the previous quarter, surpassing Tesla’s total by about 41,000 EVs
• BYD’s sales benefited from rising demand for EVs in China and the discounts it offered to domestic car buyers, an analyst says

That's true, BYD is the largest EV seller (BEV), not even counting their hybrid PHEV cars.

 

[Yommie]

This thread will be all about cars in China and Chinese global car exports.

This thread will contain everything related to cars of all shapes and sizes in China. Included will be sedans, crossovers, SUVs, sports cars, minivans, buses, trucks. Civilian vehicles only.

 

[Yommie]

Please post all car related stuffs including Tesla, BYD in this thread to avoid cluttering this section with new threads, s'il vous plait. I'm talking about you @Beijingwalker @Hamartia Antidote and others. Merci beaucoup.

 

[Yommie]

Chinese car companies BYD and Geely Lead Israeli Electric Vehicle Sales in 2023

Among the top 10 best-selling brands in Israel, Chinese brands already occupy 3 seats. Among the top 10 best-selling brands in Israel, Chinese brands already occupy 3 seats.

carnewschina.com

Chinese car companies BYD and Geely Lead Israeli Electric Vehicle Sales in 2023​

Qian Jin
January 4, 2024



4,738 new cars were sold in Israel in December 2023, according to the Israel Automobile Importers Association. The annual tally for 2023, totaling 270,023 units, saw a modest 0.7% increase compared to the previous year. A significant factor influencing these sales figures was the military conflict in Israel during the latter half of the year, impacting car sales.

Electric vehicles notably marked a robust presence, accounting for approximately 17.9% of total new car sales in Israel. In 2023, 48,219 new electric vehicles were sold, scoring an impressive 75% increase from the 27,671 units sold in 2022. Chinese automakers BYD and Geely secured the top positions in the Israeli EV market.

BYD Takes the Lead:​

BYD emerged as the frontrunner, securing the first position in Israel’s EV sales for 2023, with 15,145 electric vehicles sold. The ATTO 3 model from BYD contributed significantly to this achievement, with 14,244 units sold. BYD’s remarkable performance in 2023 represented a substantial growth compared to the 3,710 vehicles sold in the previous year, marking an increase of 308.2%.

Geely Secures Second Place:​

Geely, another prominent Chinese automaker, claimed second in Israel’s EV sales, with deliveries totaling 7,219 electric vehicles. These units were from the Geometry C model. Geely’s performance underscores the increasing popularity of Chinese EV brands in the Israeli market.

Other Key Players:​

Tesla secured the third position with sales of 6,767 electric vehicles, while Hyundai and MG claimed the fourth and fifth positions with 4,424 and 2,760 EVs sold, respectively.

Impact of Tax Rate Increase:​

In January 2024, Israel implemented a notable increase in the electric vehicle purchase tax rate, raising it from 20% to 35%. The upper limit of the exemption was simultaneously lowered from 60,000 Israeli shekels to 50,000 Israeli shekels. This tax rate adjustment directly impacted the pricing of electric vehicles from BYD, Geely, and Tesla, resulting in increased product prices.

Chinese Brands on the Rise:​

Chinese automakers, particularly BYD and Geely, have made remarkable strides in Israel’s automotive market. BYD’s surge from fourth place in 2022 to the top in 2023 indicates the growing acceptance of Chinese brands. Chery and Geely also secured positions in the top 10, marking a significant presence for Chinese car manufacturers in Israel.

Dominance in the EV Sector:​

Chinese brands have notably dominated the electric vehicle sector in Israel, accounting for a substantial 61% of EVs sold in 2023. This dominance underscores Chinese electric vehicle manufacturers’ technological advancements and competitive offerings in the global market.
Source: cartube.co.il

 

[Yommie]

Tesla will recall more than 1.6 million electric vehicles in China 18:57 - Social Bites

American electric vehicle manufacturer Tesla will recall more than 1.6 million vehicles in China due to software problems. This was reported by Interfax. According to the State Administration for Market Regulation, the recall will take place in the form of a remote software update. This change...

socialbites.ca

Tesla will recall more than 1.6 million electric vehicles in China​

ByANIKA
January 5, 2024

American electric vehicle manufacturer Tesla will recall more than 1.6 million vehicles in China due to software problems. This was reported by Interfax.
According to the State Administration for Market Regulation, the recall will take place in the form of a remote software update. This change will affect vehicles from 2014 to 2023, including the Model 3 and Model Y made in China, as well as the foreign Model S, Model X and Model 3.
It is stated that software deviations are related to driver assistance systems and door locking systems.
Cleantechnica previously reported citing analyst Troy Treslick reportedIt is predicted that an electric car could become the world’s best-selling passenger car for the first time in history by the end of 2023. We’re talking about Tesla Model Y. According to Treslick, global sales of the Tesla Model Y electric crossover next year will reach approximately 1.2 million units, which is 13% higher than its closest rival, the Toyota Corolla – 1.08 million vehicles.
Previously recognized About the first accident involving the electric SUV Tesla Cybertruck.

Source: Gazeta

 

[Yommie]

Chinese auto brands to improve profitability with EV upgrades -UBS

Chinese auto brands are set for better profitability in 2024 despite intensifying competition in the world's largest auto market, UBS analysts said on Tuesday, thanks to upgrades they have been making in their electric vehicle (EV) product mix. The average selling price (ASP) of Chinese-branded...

finance.yahoo.com

Chinese auto brands to improve profitability with EV upgrades -UBS​

Reuters
Tue, January 9, 2024 at 4:56 AM EST·2 min read

FILE PHOTO: BYD's electric vehicle (EV) Qin moves on a street in Beijing
SHANGHAI (Reuters) - Chinese auto brands are set for better profitability in 2024 despite intensifying competition in the world's largest auto market, UBS analysts said on Tuesday, thanks to upgrades they have been making in their electric vehicle (EV) product mix.
The average selling price (ASP) of Chinese-branded cars has surged in the past two years and will see high single-digit growth this year, narrowing the gap with foreign brands, said Paul Gong, UBS' head of China autos research.
Together with a market share increase to 63% in 2024 from 56% last year, the increased ASP will help Chinese brands to enjoy a 30% increase in revenue this year and account for 41% of the overall profit pool in China's passenger vehicle industry, Gong told reporters in Shanghai.
That compared to 10% of the profits for Chinese brands in their home market in 2019 and 17% in 2022, he added.
"Foreign brands failed to bring good enough EVs to China market in recent years, which has forced Chinese consumers of premium cars to either choose gasoline cars of German brands or Chinese-branded EVs," Gong said.
The trend underscores efforts by Chinese automakers such as BYD, Great Wall Motor and Geely to move upmarket and sell their cars in a more lucrative segment, taking market share from foreign brands which were previously favoured by Chinese consumers.
Chinese automakers, despite rapid growth in sales volume and market share, had struggled to sell their cars at a price range higher than 100,000 yuan five years ago.
But in 2023, several Chinese-branded models priced above 150,000 yuan achieved monthly sales of more than 10,000 units.
Japanese brands will be among the biggest losers in China, losing nearly half of their shares in revenue and profits from 2022, to 9% and 19% in 2024, respectively, UBS forecast.
(Reporting by Zhang Yan and Brenda Goh; Editing by Alexander Smith)

 

[Yommie]

China Becomes the World’s Biggest Auto Exporter—With Help From Russia

China’s overseas auto sales surged to a record last year, on track to surpass Japan as the world’s biggest exporter and marking a tectonic shift for the global auto industry.

www.wsj.com

China Becomes the World’s Biggest Auto Exporter—With Help From Russia​

Demand for gas-powered vehicles push sales of made-in-China cars to a record high​

By
Selina Cheng
Follow

Updated Jan. 9, 2024 7:27 am ET


How Russia Helped Turn China Into the World’s Biggest Car Exporter
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How Russia Helped Turn China Into the World’s Biggest Car ExporterPlay video: How Russia Helped Turn China Into the World’s Biggest Car Exporter
China is now the world’s largest auto exporter with Russia becoming its biggest buyer this year. WSJ explains how Chinese car brands profited from Moscow’s invasion of Ukraine and Western sanctions. Illustration: Kalvin Ng
HONG KONG—China’s overseas auto sales surged to a record last year, on track to surpass Japan as the world’s biggest car exporter and marking a tectonic shift for the global industry.
While China has become acknowledged as a world leader in electric vehicles, traditional gas-powered autos were the main driver of the increase, with demand surging especially in Russia.

.....

 

[Yommie]

A surge of Russian demand has made China the world's biggest car exporter

Chinese vehicles have filled Russian dealerships and factories that have seen European and Japanese car brands leave since the Ukraine war began.

www.businessinsider.com

A surge of Russian demand has made China the world's biggest car exporter​

Phil Rosen
Jan 9, 2024, 2:26 PM EST

One of Xi's public displays of cracking down on corruption included seizing more than 100 high-end cars used by officials.Kevin Frayer/Getty Images

• A surge in Russian demand has made China the world's top car exporter, per the Wall Street Journal.
• Chinese brands have flooded the Russian market since the war in Ukraine began.
• European, Japanese, and Korean car brands meanwhile have largely left Russia.

China's auto industry appears to have emerged as a beneficiary of Russia's ongoing war with Ukraine.
Since Moscow invaded, European, Japanese, and other nations' vehicle brands have left the Russian market, though China has remained — and surging demand there has helped it notch a record year and surpass Japan as the world's top auto exporter, according to a Wall Street Journal report.
In 2023, China sold at least five times as many cars in Russia than the 160,000 seen in 2022, data from the China Passenger Car Association showed, per the Journal.
On Tuesday, the group estimated that 5.26 million China-made vehicles were sold overseas over the last 12 months, about a million more than Japan's automakers.

Russia specifically accounted for about 800,000 of the 2 million additional vehicles China exported in 2023, the Journal reported.
China's top auto company Chery saw a boom in sales to Russia over that stretch, sending 900,000 cars overseas in total. Automakers Geely and Great Wall Motor similarly saw a sharp uptick in car sales to Russia.
At the same time, domestic demand in China also bounced back in 2023 with its electric-vehicle sector fueling its strongest growth in several years, the car association said. Chinese Tesla rival BYD, for instance, beat out Elon Musk's company as the world's top EV seller in the most recent quarter.
Still, since the war in Ukraine began, Russia's car industry isn't what it once was compared to pre-war times.

In the aftermath of the invasion, purchases of foreign-made cars in Russia neared a standstill, according to a July report from Yale researchers. A combination of soaring prices, weak consumer sentiment, and dwindling supply has sent domestic car sales crashing to roughly a quarter of pre-war times.
"Russians are just buying less cars, period," researcher Steven Tian said in an interview with Business Insider at the time. "That speaks to the weakness of the consumer in Russia. This is as close to a proxy to deteriorating consumer sentiment as there is, and the story it tells is profoundly distressing. Russians just aren't spending money."

 

[Yommie]

https://tass.com/russia/1730269

Russia accounted for 40% of Chinese car export growth in 2023 — WSJ​

Chinese car exports surged to a record high level owing to the Russian market, making it possible for China to outpace Japan as the top global vehicle exporter, WSJ reported

NEW YORK, January 9. /TASS/. Russia accounted for about 800,000 from two million of Chinese cars export growth in 2023, The Wall Street Journal (WSJ) said, citing Cui Dongshu, Secretary General of the China Passenger Car Association.
Deliveries to the Russian market soared fivefold against a year earlier, Cui said. According to the assessment of the Secretary General, Chinese automaker Chery became the country’s top exporter also owing to booming sales in the Russian market. Chery’s figures outpaced exports of US Tesla and Chinese BYD electric cars, he added.
Chinese car exports surged to a record high level owing to the Russian market, making it possible for China to outpace Japan as the top global vehicle exporter, WSJ reported. According to the Association’s data, China sold about 5.26 mln cars overseas, almost a million more than total Japanese car exports in January - November 2023.

 

[Yommie]

Japan has lost the first place in the world in car exports to China because of Russia

Thanks to the increase in deliveries to Russia, China has managed to become the world leader in car exports. This is reported by TASS with reference to the Nikkei edition, which published preliminary data from the Chinese Association of Automobile Manufacturers. According to these data, Japan...

eng.autostat.ru

Japan has lost the first place in the world in car exports to China because of Russia​

Thanks to the increase in deliveries to Russia, China has managed to become the world leader in car exports. This is reported by TASS with reference to the Nikkei edition, which published preliminary data from the Chinese Association of Automobile Manufacturers. According to these data, Japan (the former world leader in car exports) for 11 months sent abroad 3.99 million cars, and at the end of the year this volume is expected to reach 4.3 million vehicles. Meanwhile, exports of cars manufactured in the PRC for 11 months already totaled 4.41 million vehicles (it increased by 58.4% in compare with January-November 2022).
And this means that Japan will cede its primacy in the global ranking of auto exporters to China. Experts believe that such an arrangement was largely influenced by the situation in the Russian car market and the way both countries behave today with regard to Russian supplies. On the one hand, within the framework of the announced sanctions against Russia, Japan has sharply reduced exports of cars and spare parts to our country (the decision came into force on 9 August 2023 and by the end of the year the Ministry of Foreign Affairs of Japan has promised to impose additional restrictions in this direction), which, of course, has reduced its overall export performance in the global market.
On the other hand, Chinese carmakers, on the contrary, have tried to utilize their new business opportunities, taking advantage of the withdrawal of Japanese, Korean and European brands from Russia. They intensified their deliveries of cars to our country in order to increase their market share. Let us remind you that recently AUTOSTAT experts counted 19 new Chinese brands that entered the Russian market in 2023 - BAIC, Haima, Hongqi, Jetour, Kaiyi, Livan, Jetta, SWM, TANK, JAECOO, ORA, Wey, AITO, Forthing, Lixiang, Rising, Venucia, Voyah, Skywell. These are those who have made official presentations, announced their intention to sell cars in Russia, opened sales in car dealerships (own or partner), started to form dealer networks and service centres.
As of the end of 2023, more than 60 brands from China were selling cars in the Russian car market, and many of them have significantly increased their sales this year.