Chinese OEMs have 50% share of the Chinese passenger car market (11 Months 2022)
- For the first time in thirty years, Chinese carmakers account for 50% of the Chinese passenger car market (calculated over the last 11 months of 2022). The growth of these carmakers has been constant since the 1990s, but with a first acceleration in 2005, when a large number of Chinese groups started up, and a second acceleration from 2021, when electric car sales in China boomed.
- We have seen that sales of battery electric vehicles (BEVs) in China have predominantly benefited to Chinese carmakers (and BYD in particular), so the boom in sales of BEVs in China caused a boom in sales of Chinese cars as a whole.
- This is easily observed as the share of Chinese carmakers in China increased from 40% in 2020 to 45% in 2021, reaching 50% in 2022. In 2015 it was 40%, in 2016 42%, in 2017 43% and then decreased to 42% in 2018, 41% in 2019 and thus 40% in 2020.
- Today, Chinese groups are no longer in danger of falling back to 40% of the market, as their models are more competitive than before, especially in electric powertrains, even if Tesla manages to continue gaining strength. In addition, new Chinese brands have recently entered the market. At the same time, foreign carmakers are experiencing difficulties and some have even announced their imminent departure, a phenomenon which could accelerate if a policy of Chinese self-enclosure was on the agenda or if a military operation on Taiwan led to severe economic sanctions.