In 2023, China's exports of cars to countries involved in the Belt and Road Initiative will account for 65.7% of total vehicle exports
"One Belt, One Road" jointly builds the country into a hot spot for China's automobile exports
Spotlight
Guangzhou Daily (All Media Reporter Deng Li) China's own brand cars are sailing to the sea and heading to the world. Recently, according to the latest data from the General Administration of Customs compiled by the China Association of Automobile Manufacturers, China will export 3.428 million complete vehicles to the "Belt and Road" countries in 2023, a year-on-year increase of 62.8%, accounting for 65.7% of the total number of exported vehicles. . The reporter noticed that in recent years, Chinese automobile companies have been accelerating their pace of going overseas, and the combined efforts have led to my country's automobile export volume continuing to rise to the first place in the world.
Exports of automobiles to countries under the Belt and Road Initiative increased by 62.8% year-on-year
According to data from the General Administration of Customs compiled by the China Association of Automobile Manufacturers, the cumulative value of China's exports of automotive goods to the "Belt and Road" countries will reach US$117.1 billion in 2023, a year-on-year increase of 43.6%, accounting for 55.9% of the total exports of automotive goods. Among them, 3.428 million completed vehicles were exported, a year-on-year increase of 62.8%, accounting for 65.7% of the total exported vehicles. Previous data showed that my country's automobile export volume in 2023 was 5.221 million units, a year-on-year increase of 57.4%, surpassing Japan and becoming the world's number one automobile export country.
The reporter noticed that some Chinese car companies relied on the early deployment of the "One Belt, One Road" to jointly build the country, achieving rapid globalization and soaring production and sales. Chery Automobile told reporters that many of the group's products are exported to 46 countries and regions participating in the "Belt and Road" initiative, and sales account for 80% of the group's total exports; Changan Automobile revealed that from 2022, about 90% Sales volume originates from countries co-constructed by the “One Belt, One Road” initiative. Last year, Changan’s export volume of its own brand reached nearly 200,000 vehicles. Among the popular automobile export destinations along the “Belt and Road Initiative”, Southeast Asian countries such as Thailand and Malaysia, and Middle Eastern countries such as Saudi Arabia and the United Arab Emirates have attracted many Chinese automobile-related industry companies to promote the “localization strategy” and realize the export of the entire industry chain locally. .
According to statistics, in Thailand, more than 10 Chinese vehicle and parts companies, including BYD, Great Wall, Changan, GAC, Nezha, Guoxuan Hi-Tech, and Joyson Electronics, have announced or have invested in and established factories there. The first phase of GAC Group's factory in Rayong, EEC Special Economic Zone, will be completed in July, with a designed annual production capacity of 50,000 units.
Seizing key markets, Chinese car companies accelerate the construction of overseas factories
The iResearch Research Report pointed out that China's automobile "going global" has completed the early accumulation of experience and is constantly advancing towards high-quality "going overseas". It is an important development trend to seize key markets as a stronghold and spread to the world. In order to achieve the goal of "reaching more countries with one point", from the perspective of long-term interests, it is an inevitable process for Chinese car companies to accelerate the construction of overseas factories, realize localized production and build well-known brands.
Based on this, SAIC, Changan, etc. have chosen Thailand as an important "transit station" to develop the ASEAN market and more countries. For example, SAIC relies on products produced in Thailand to export to Indonesia, Malaysia, etc. Changan Automobile also uses Thailand as an important base for radiating the global right-hand drive market, thereby exploring right-hand drive product markets in Australia, New Zealand, the United Kingdom and South Africa. Chery regards Arab countries as one of its core overseas markets and has established four major production bases in Arab and Middle Eastern countries, and has also established three joint ventures with local sellers.