Chinese Auto Giants Conquer Overseas Market: April 2024 Analysis and Insights

New data from the China Passenger Car Association (CPCA) demonstrates that Chinese automakers have a significant performance abroad. On June 2, 2024, Cui Dongshu of the CPCA announced that there are 184,000 units sold abroad in April, gaining a 57% year-over-year increase.

Outstanding Total Sales in Q1 2024

It is also important to mention that sales from January to April 2024 totaled 720,000 units, a 57% increase from the same period the previous year.

Standout Achievements

The robust upward trend is highlighted by the export statistics of Chinese vehicle brands, including SAIC Motor, Great Wall Motor, Geely Automobile, Chery Automobile, and Chang'an Automobile. Among them, SAIC Group, in particular, has shown to be in a particularly robust and promising export market lately.

BYD, SAIC Roewe, Geely, and Great Wall were the bright spots in China's new-energy auto export segment, with BYD's international sales performance taking center stage.

Dealing with Market Dominance

Chinese vehicle brands have demonstrated remarkable success in the international auto market. In the UK, Australia, Mexico, India, and Thailand, SAIC Group has designated its territory. Great Wall Motors has demonstrated their market power in South Africa and Russia at the same time that Chery Automobile has done very well in Brazil, Turkey, and Russia.

Global recognition has been accorded to China's new-energy auto exports' formidable performance. By attracting the interest of Northern European markets in nations like the UK, France, and Australia, SAIC Motor, Geely, and BYD have established the foundation for future expansion in these strategically important regions.

Interpreting Success Factors

This gain has been largely attributed to the expansion in gasoline automobile exports as well as the steep rise in new energy vehicle exports. A significant increase of around 800,000 units in both the volume and average price of Chinese auto exports can be attributed to Russia.