The brands that suffered the most from electrification in China in 2022
- The acceleration of the electrification of the Chinese market, which represented 5,029,207 battery electric vehicles (market share of 21%) sold last year, to which must be added 1,530,479 PHEVs (7% of market share) and 748,202 full- hybrid vehicles (3% of the market), favored brands such as BYD, Tesla, Li Auto, NIO, but also disadvantaged around twenty brands which did not invested heavily in this type of engine.
- Among them, we note the presence of about fifteen foreign brands and four Chinese brands, such as Brilliance, Great Wall, Baojun and FAW. Great Wall decided at the end of the year to catch up with other Chinese carmakers that are well established in the electric car market. In particular, we saw this carmaker exhibit several electric models at the last Paris Motor Show which will begin their commercial career in Europe in 2023.
- Among the foreign carmakers who have suffered the most from electrification in China, we note the presence of the Japanese Mitsubishi, Mazda, Nissan and Honda, the Koreans Hyundai and Kia, the Americans Jeep, Buick, Ford, Lincoln and Cadillac, the Europeans Land Rover, Skoda, Jetta, Audi (the latter three being part of the Volkswagen group).
- If we enlarge the field to brands that remained stable in 2022 and did not benefit from the electrification of the market, we note the presence of the Chinese BAIC, JAC and SAIC, and the foreigners Chevrolet and BMW. Even the Wuling brand with its flagship Mini EV model (the best-selling model in China in 2022) is no longer progressing and seems to be levelling off, with a 2.5% market share.