South Korean media: Not only electric vehicles, but China's internal combustion engine car exports will also surpass Japan and take the top spot in the world!
On December 20, South Korean media Edaily published an article stating that China's massive production efforts are rapidly reshaping the global automotive industry landscape. It is predicted that this year, China will not only surpass Japan in the electric vehicle sector but also in the internal combustion engine vehicle (gasoline car) sector, becoming the world's largest exporter.
Mizuho Bank predicts that by 2040, China's car shipments will increase by 6 million units compared to now, reaching 40 million units. It is expected that Japan will maintain a level of 22 million units during the same period, remaining the same as now.
The Japanese newspaper Nikkei pointed out: "In 2023, China's auto exports have already surpassed Japan. In 2023, China exported 4.91 million cars, exceeding Japan's 4.42 million. This year, major international organizations predict that China will also occupy the top position in the internal combustion engine vehicle sector. This is an uncomfortable fact for Japan."
It is expected that Japanese automakers will continue to maintain their existing influence in Japan, North America, and India, but Chinese cars are strongly rising in the Southeast Asian, Middle Eastern, Latin American, and European markets. Therefore, people are beginning to pay attention to how fast China will rise to become the leader in the global automotive industry and how long it will maintain its dominance.
Especially worth mentioning is that BYD is accelerating brand expansion by actively expanding its overseas factories in Southeast Asia, the Middle East, and Europe. Based on this, the company plans to sell 800,000 cars abroad next year. In addition to BYD, it is expected that two to three other Chinese automakers will enter the top ten globally, which has raised concerns among Japanese, American, and European companies.
Outside of China, more and more countries around the world are striving to transition from developing countries to developed countries, and more countries are also seeking to develop the electric vehicle industry as part of their environmental protection transformation policies.
Global consulting firm Roland Berger also predicts that by 2040, car sales in China and emerging southern countries will account for nearly 60% of the global market, while India - the country that has become the world's most populous nation - will see its new car market size grow sevenfold. This means that even traditional economic powers such as South Korea, Japan, Europe, and North America will face an era requiring larger scale and more flexible production and market management.
With supply chain restructuring, the recovery of emerging countries' automotive industries, and the expansion of Chinese companies' overseas production, it is not impossible for BYD to break through 10 million units of annual production. In India, the vast domestic market may also give rise to new competitors.
Original article: toutiao.com/article/1852014223751172/
Statement: The article represents the personal views of the author.