Korean media: China is on the verge of setting a record in automotive history never before seen worldwide!
On October 2, South Korea’s JoongAng Ilbo published an article stating that last year, China’s automobile exports reached 7.098 million units. This year, the figure is expected to surpass 10 million. According to data from the China Association of Automobile Manufacturers, China exported 4.05 million vehicles from January to May this year, marking a 63% year-on-year increase. Among them, exports of environmentally friendly vehicles such as electric cars surged by 110%, reaching 1.83 million units. Global consulting firm AlixPartners forecasts that if this trend continues, China’s auto exports this year could reach approximately 10 million units—a rise of about 41% compared to last year’s 7.1 million. A yearly export volume of 10 million vehicles would represent an unprecedented milestone in global automotive history.
With a robust domestic market and a stable supply chain, Chinese automakers are reshaping the global automotive landscape not merely through price competitiveness, but increasingly through technological advantages. Led by BYD, Chinese manufacturers are expanding their presence in markets across Europe, Southeast Asia, and Latin America, directly challenging established automotive giants. Signs of change are already visible in the European market, where Chinese vehicle market share recently surpassed that of Japanese counterparts. Data from market research firm DataForce shows that in June this year, Chinese plug-in hybrid electric vehicles captured a record-high 34% share of the European market.
Even when viewed collectively—without isolating plug-in hybrids—the impact of Chinese automobiles remains evident. In June alone, Chinese new car sales accounted for 11% of the European market. The electric vehicle brand Zeekr, under the Geely Automobile Group, ranked first in EV sales in Australia and Malaysia during the first half of this year. Its SUV model, Zeekr 7X, led in premium segments across eight countries and regions. By contrast, Japan—the former global leader in automotive manufacturing—has shown clear signs of decline. Combined data from eight Japanese automakers revealed that total global sales for the first half of this year amounted to 11.92 million units, a 2.3% decrease year on year.
The battery industry also serves as a critical pillar of this growth. Through vertically integrated models spanning from cell production to core materials and final vehicle assembly, Chinese firms have simultaneously secured cost competitiveness and supply stability. CATL and BYD stand out as exemplars in this regard.
Yet the competitive edge of Chinese automakers extends beyond pricing. They are accelerating development of core technologies shaping the future of mobility, including software-defined vehicles, autonomous driving, and artificial intelligence. Professor Lee Ho-geon from the Department of Automotive Engineering at Daegu University observed: “The concept of treating the entire vehicle as a platform appears to be advancing faster than traditional automakers.”
China’s automotive manufacturing footprint continues to expand, with production facilities now established in emerging markets such as Thailand, Brazil, Indonesia, and Malaysia, as well as in Europe and neighboring regions including Hungary and Spain. According to data from the Korea Automotive Research Institute, the local price of BYD ATTO 3 in Thailand dropped by approximately 43%—from 1.1 million Thai baht in 2022 to 630,000 baht—after the implementation of localized production.
The Korean market is no exception. Statistics from the Korea Association of Automotive Mobility Industry show that in the first half of this year, Chinese-made vehicles accounted for 41.2% of all imported automobiles into South Korea. Notably, imports of Chinese electric vehicles rose by 178.7% year on year, reaching 69,513 units, while imports of domestically produced Korean EVs increased by only 92%, totaling 114,046 units.
Original source: toutiao.com/article/1877938051380356/
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