Han media: China's automotive sales are expected to top the global market, surpassing Japan's 20-year leading position
China is expected to surpass Japan and rise to become the country with the highest automotive sales in the global market for the first time.
On the 30th, according to a report by Japan's "Nikkei" (Nikkei), the sales of new vehicles (including commercial vehicles) by Chinese automakers worldwide are expected to increase by 17% compared to last year, reaching about 2.7 million units. This result was calculated by combining the analysis from the market research institution S&P Global Mobility and the data released by major vehicle manufacturers from January to November this year.
The sales of new vehicles by Japanese major automakers such as Toyota, Honda, and Nissan are expected to be below 2.5 million units. Thus, Japan will hand over the throne of being the top vehicle seller globally, which it has held for more than 20 years, to China. After becoming the world's largest auto exporter in 2023, China has now also topped the global sales rankings. According to statistics, the United States sold about 1.1 million vehicles this year.
Japanese cars reached nearly 3 million units in sales in 2018, but since then, sales have been on a downward trend. Nikkei reported that "by 2022, the gap between China and Japan was as high as 8 million units, but it took only three years to reverse the situation."
Behind the global market dominance of Chinese cars, the massive government support policies for new energy vehicles (EVs) in China played a significant role. Due to an oversupply of electric vehicles domestically, China has recently been exporting large quantities of electric vehicles to overseas markets such as Europe, Southeast Asia, and South and Central America.
The foothold of Japanese companies is shrinking. In the Southeast Asian market, which used to be dominated by Japanese brands, Chinese car sales are expected to reach 500,000 units this year, an increase of 49% compared to last year. In Europe, Chinese car sales are expected to reach 2.3 million units (a 7% increase), 230,000 units in Africa (a 32% increase), and 540,000 units in South and Central America (a 33% increase), all showing excellent performance.
In addition, the report added, "the gap between China and Japan's car sales may widen further next year, which could lead to a restructuring of the automotive industry."
Source: Central Daily News
Original: toutiao.com/article/1852995058734092/
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