The year 2023 has passed, and for the automotive industry, it marked a watershed moment for China's car market. For the first time in 70 years, China's automotive industry entered the global sequence, with domestic brands dominating the rankings and sales surpassing those of joint ventures for the first time.

It's important to recognize that this is the first time in 39 years, since Volkswagen entered the Chinese market in 1984 to establish joint ventures, that Chinese automakers have reclaimed the sales championship in China's automobile market. According to data from the China Passenger Car Association (CPCA), domestic brands accounted for 52% of total sales, with domestic cars finally gaining prominence and outselling the once-dominant joint venture vehicles.

The latest data released by the CPCA shows that in 2023, the total sales of cars in China (including passenger and commercial vehicles) exceeded 30 million units, reaching a new starting point. Among them, passenger cars批发 sales reached 25.53 million units in 2023, a year-on-year increase of 10.2%, achieving a historical high; retail sales accumulated to 21.699 million units, a year-on-year increase of 5.6%.

In 2023, Chinese car brands truly gained prominence, with the market share of domestic brands reaching 52% for the year. This means that for every 100 new cars sold in the market, 52 were domestic brands, firmly stepping on the once-dominant joint venture vehicles.

In the CPCA data, among the top ten passenger car wholesale rankings, domestic car brands occupied six seats, with the remaining joint ventures being FAW-Volkswagen, SAIC Volkswagen, SAIC General Motors, and GAC Toyota. In the narrow sense of passenger car retail rankings, BYD forcefully topped the list, surpassing FAW-Volkswagen by nearly one million units, also creating a miracle among domestic car brands, while Geely Automobile and Changan Automobile respectively ranked third and fourth.

In terms of corporate sales, most joint ventures indeed fell into negative growth or minimal growth. For example, SAIC Volkswagen declined by 1%, GAC Toyota declined by 7.3%, SAIC General Motors and Dongfeng Nissan, GAC Honda all declined by double digits, Dongfeng Honda also declined by 4.9%, FAW Toyota only grew by 0.3%, Beijing Hyundai fell to the bottom and then slightly increased by 2.8%, Yueda Kia performed outstandingly, but that was because half of its products were turned to exports, and domestically it only sold over 80,000 units.

As of the end of December 2023, the various segmented markets were filled with new energy vehicles led by BYD, which is also true. With the help of the new energy industry, China's annual car sales (including passenger and commercial vehicles) unprecedentedly exceeded 30 million units. Looking back, the development process of domestic car brands is full of challenges and breakthroughs, born from a diverse range of industrial backgrounds, showing an unyielding entrepreneurial spirit.

BYD first jumped to the global car sales ranking list, ranking ninth. As the only Chinese brand, BYD is not only the highest-selling new energy vehicle brand in the list (including pure electric vehicles and plug-in hybrid vehicles), but also the earliest to start and the only car manufacturer to complete the transformation to new energy vehicles.

BYD won the championship in car sales in the Chinese market, brand sales in the Chinese market, and global new energy sales in 2023. At the same time, BYD's full-year exports in 2023 exceeded 240,000 units, a year-on-year increase of 334%. With the global sales leading influence and comprehensive leading strength in technology, BYD has been recognized and supported by top overseas dealers, accelerating the pace of BYD's global development.

In addition to sales, it is worth mentioning BYD's strategy. BYD took the lead in stopping the production of fuel vehicles and betting on new energy vehicles, relying not only on policies but also on the accumulation of profound technology. For example, blade batteries, super hybrid DMI systems, Yunyan systems, and Yi Si Fang have all been recognized by domestic and foreign consumers.As Wang Chuanfu said, the first half of the new energy vehicle (NEV) era is about electrification, and the second half is about intelligence. Now, BYD is showcasing its intelligence, which is like pouring a basin of boiling water into a hot oil pan. By 2024, BYD's NEVs will take another step forward, reaching new heights.

In 2023, China's automotive industry celebrated its 70th anniversary. In this year, not only did domestic car sales achieve a victory in market share, but China also surpassed Japan to become the world's largest exporter of automobiles. It is also the leader in the production and sales scale of NEVs. Currently, major domestic brands have accelerated their internationalization process, starting from the local market and entering the global automotive market. Some have even begun to establish factories abroad, such as Chery's factory in the Middle East and BYD's factory in Uzbekistan for the production of NEVs. On the track of NEVs, does this mean that domestic cars have successfully overtaken the competition?