China’s Domestic Automotive Groups Excel in Export Sales

Analysis Report – July 2023

Introduction

This analysis report examines the performance of China’s domestic automotive groups in the first half of 2023 with a specific focus on their export sales. The report highlights the top ten domestic car manufacturers in terms of export volumes, their market shares, and the increasing significance of overseas business for the Chinese automotive industry.

Ranking	Automotive Group	Export Sales in H1 of 2023	Total Sales in H1f of 2023	Export Proportion	Export Proportion Ranking
1	SAIC	533,000	2,072,000	25.72%	4
2	Chery	394,000	741,000	53.17%	1
3	Changan	177,000	1,216,000	14.56%	7
4	GREAT WALL	124,000	519,000	23.89%	5
5	Geely	121,000	694,000	17.44%	6
6	DFAC	103,000	946,000	10.89%	8
7	JAC	89,000	279,000	31.90%	3
8	BYD	81,000	1,256,000	6.45%	10
9	BAIC	78,000	819,000	9.52%	9
10	CNHTC	66,000	130,000	50.77%	2

1. Export Sales Overview

In the first half of 2023, the cumulative export sales of the top ten Chinese domestic automotive groups reached 1.766 million vehicles, accounting for an impressive 83% share of the total export sales during the same period. This signifies the strength and competitiveness of these manufacturers in the global market.

2. Leading Exporters

Among the Chinese domestic car companies, SAIC Motor Corporation Limited (SAIC) emerged as the leading exporter during the first half of the year. SAIC’s export volume reached 533,000 vehicles, marking a remarkable year-on-year growth of 40%. Following closely, Chery Holding Group Co., Ltd. (Chery) secured the second position with 394,000 exported vehicles, registering a substantial year-on-year growth of 170%. The third spot was held by Changan Automobile Group (Changan), with 177,000 exported vehicles, of which 102,000 were under the Chinese domestic brand, showcasing a robust year-on-year growth of 94.39%.

3. Significance of Export Business

The importance of export business varied across different car companies. Two companies, Chery and China National Heavy Duty Truck Group Co., Ltd. (CNHTC), both had export sales accounting for over 50% of their total sales, standing at 53.17% and 50.77%, respectively. This indicates that for Chery and CNHTC, overseas operations are equally vital as their domestic business.

4. Strategic Positioning

Five other automotive groups, namely SAIC, Jiangling Motors Corporation Group (Jiangling), Great Wall Motors Company Limited (Great Wall), Geely Automobile Holdings Ltd. (Geely), and Changan, had export sales comprising more than 10% of their total sales. These figures demonstrate a significant strategic elevation of export business for these companies.

5. Growing Export Ventures

In contrast, BYD Auto Co., Ltd. (BYD), which has been making headlines in China, only saw its export sales account for 6.45% of its total sales in the first half of the year. However, it recorded an extraordinary year-on-year growth of 10.6 times, indicating that BYD’s export business is experiencing rapid expansion.

6. Future Outlook

Forecasters predict that with China’s electric vehicle market leading globally, Chinese automotive brands will gain popularity overseas. By 2030, annual sales of Chinese brands in international markets are projected to reach 9 million vehicles, resulting in a global market share of 30%. Moreover, the share of Chinese brands in the European market is expected to surpass 15%.

Conclusion

China’s domestic automotive groups have showcased remarkable performance in export sales during the first half of the year, with some companies even relying heavily on overseas business. As the electric vehicle market continues to flourish, Chinese automakers are well-positioned to expand their global presence, solidifying China’s position as a significant player in the international automotive industry. However, the industry must stay vigilant to navigate the complexities and challenges of global markets to maintain this upward trajectory in the future.

Photo from Wikimedea