New pattern of China's passenger car market: The share of local brands is increasing year by year and is expected to exceed 60% this year

According to news on May 11, data recently released by the China Association of Automobile Manufacturers revealed a striking phenomenon: the market share of Chinese brand passenger cars is steadily increasing, demonstrating the continued progress and development of the domestic automobile industry. Consumers increasingly trust local brands. According to a report released by the association, in the first four months of this year, the sales of Chinese brand passenger cars accounted for 45.2% of the total market sales, an increase of 2.8 percentage points compared with the same period last year. This data reveals the continuous growth of Chinese brand passenger cars in the market competition. The report also pointed out that Chinese brand passenger cars have achieved significant results in various market segments. jump. Specifically, the sales of Chinese brand passenger cars in 2021 reached 9.543 million units, accounting for 44.4% of the market share. By 2022, sales volume will increase to 11.766 million vehicles, and market share will also climb to 49.9%. Entering 2023, this growth momentum will be even more rapid. According to statistics, the sales volume of Chinese brand passenger cars has reached an astonishing 14.596 million units, and the market share has soared to 56%. In the first four months of this year alone, sales are expected to exceed 4.6 million vehicles, with the market share expected to reach 60%.

The development of China's automobile industry not only highlights the growth momentum of Chinese manufacturing, but also reflects the recognition and trust of domestic consumers in local brands. The continuous improvement and improvement of Chinese automobile companies in terms of technological innovation, product quality and services are gradually being translated into actual market share. Chinese automotive companies have been continuously advancing in technology innovation, product quality, and service. This progress has translated into a significant market share in the Chinese automotive industry. It not only demonstrates the growth momentum of "Made in China" but also reflects the recognition and trust of domestic consumers towards local brands. China's automobile industry has a team of skilled and experienced talents who have core competitiveness in R&D, design and manufacturing in the automotive field. With the continuous breakthrough of technology, industry analysts point out that the rise of Chinese brand passenger cars is inseparable from the heavy investment in technology research and development by driving manufacturers. The performance, safety and comfort of products have therefore been improved. Significantly improved. At the same time, with the advancement of intelligent manufacturing and Industry 4.0, the production efficiency and product quality of China's automobile industry have also achieved leapfrog development. Coupled with precise market positioning and marketing strategies, Chinese brand passenger cars have gradually emerged in the fierce market competition.

This report from the China Association of Automobile Manufacturers has undoubtedly injected strong confidence into the Chinese automobile industry. It is foreseeable that with the continuous expansion of market share, the influence of Chinese brand passenger cars in the global automobile market will also increase.

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