PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1277020
PUBLISHER: Frost & Sullivan | PRODUCT CODE: 1277020
Domestic Brands Gain Market Share Across Vehicle and Powertrain Segments as Electrification and Cross-Industry Partnerships Intensify
This study assesses the automotive market in China, focusing on the passenger vehicle (PV) market. Within this, Frost & Sullivan will also discuss electric vehicles (EVs), charging, and battery swapping.
China's automotive market has proliferated, particularly after the 2008 Beijing Olympics. The unit shipment of China's PV market has consistently exceeded 20 million since 2015.
The data from this study showed that sales in China's automotive market declined from 2017 to 2020, challenged by the US-China trade war and the COVID-19 pandemic. With the government's multi-year push-pull strategies, the EV segment has grown rapidly since 2021. In 2022, automotive sales rebounded to 23.5 million because of the resuming purchase power and the government gradually lifting the movement control.
Domestic brands have gained more share than international brands in multiple vehicle segments. For example, the proportion of domestic brands in total automotive sales increased from 44.4% in 2021 to 50% in 2022, with a unit shipment of 11.7 million vehicles in 2022.
In this research service, Frost & Sullivan provides the total size of the Chinese automotive market and historical and forecast data from 2017 to 2023. Other information includes: