According to the British research company GlobalData, the demand for new car in the Chinese market has increased from 10%in 2021 to 24%in 2024. With the help of a series of subsidy policies, the process of electrification of China has quickly advanced, and the proportion of traditional fuel vehicles has decreased from 80%to 48%.
In China, BYD has become the main force to promote the popularization of new energy vehicles. In the third quarter of 2024, BYD’s global sales increased by 38%year -on -year to 1.13 million units, of which pure electric models increased by 3%to 440,000 units, while mixed models increased by 76%to 680,000 units.
From the perspective of global sales, BYD jumped from 8th in the same period last year to 4th, surpassing car companies such as Ford, Hyundai, Honda and Nissan. BYD has performed strongly in recent years. This is unexpectedly unexpected by European and American and Japanese car companies. As an opponent, everyone generally feels tremendous pressure.
According to the “Japan Economic News” statistics, compared with the same period in 2022, the sales of Volkswagen and Mercedes -Benz fell by about 20%, Nissan decreased by nearly 50%, and Honda decreased more than 50%. Honda Deputy President Aoyama Shinji directly stated at the financial report that the company’s industry fell far beyond expectations, and management must recognize this.
Over the past 40 years, Volkswagen has been one of the leaders of the Chinese market. Especially in 2017, China’s total car sales reached 28 million, becoming the world’s largest automobile production and sales country. Volkswagen Group also exceeded 4 million units in China in China, accounting for 40%of the annual sales of the entire Volkswagen Group.
In the first three quarters of this year, Volkswagen’s car sales in China fell by 10.2%, which has removed all the results of sales growth in other parts of the world.
Not only that, the predicament of Volkswagen in China is affecting the world. The sales volume of the entire group is declining. The most intuitive result is that profits have fallen sharply. In order to cope with the current dilemma, Volkswagen closed at least three factories in the German base camp and proposed a restructuring plan of tens of thousands of people.
For a long time, North America has been the most profitable market for Japanese cars. However, in the past third quarter, except for hot -selling hybrid vehicles, the growth of other models has almost stagnated.
In the US market, the trend of surge in inventory is becoming more and more significant. In order to reduce inventory, car companies have to provide more encouragement to 4S stores, or increase preferential policies for car loans.
The research company Cox Automotive data shows that as of the end of September 2024, the number of new US car stocks reached 81 days, which increased by 40%compared with the 58 days last August. In order to sell cars, bicycle incentives have continued to rise. At this stage, it has reached 3,500 US dollars, an increase of 50%year -on -year.
In fact, encouragement funds have been launched in the North American market. As early as 2021, the new crown epidemic, Japanese car companies frequently stimulated consumption in the United States. According to the “Japan Economic News” statistics, Nissan’s lack of hybrid models in the North American market reached 105 days, and the incentives increased to more than $ 4,500, but it was still inevitable.
In the short term, the dilemma of the North American market further deepened the downturn of Nissan. In the North American market, the sales of pure electric models have slowed down, and the sales of hybrid vehicles are growing. Nissan has previously given priority to pure electric models in North America. The current competition is very passive.
Judging from Nissan’s 10 best -selling models in the United States, a total of only one new car was released in 2022 and 2023. Due to the delayed update of new cars, the number of best -selling models decreased, and it can achieve a monthly sales of over 1,000 vehicles. The 19th year has fallen to the current 12 vehicles.
The shortage of hot -selling new models, pure electric models are facing sales resistance, Nissan has no choice, and can only rely on sales incentives and subsidies after price reduction, leading to a significant decline in profits.
Toyota’s situation is slightly better. Thanks to several competitive hybrid models, the company’s US inventory is 33 days and the incentives are around $ 1,450.
It is worth mentioning that North America has always been the “profit dairy cow” of Honda Motors, which is precisely that this market has become stable, allowing Honda to achieve remarkable results in the past six months. Not only did fuel vehicles and hybrid sales strong, but even pure electric models, it also increased by 64,000 vehicles over the same period last year.
Behind the profit, there are market sales pressure and huge burden of electricity investment. Stellandis CEO Tang Wei said in an interview with the Financial Times that the long -term transformation of electricity transformation will be a huge trap for car manufacturers. Flow.
“Japan Economic News” learned that in the current market environment, it is difficult to increase income significantly. When profitability declines, the development of new cars and new technologies is also easy to be limited.
Honda plans to invest 10 trillion yen by 2030 for electricization and software development, but in the third quarter of the past, high R & D expenses directly reduced Honda’s operating profit by 53 billion yen.
Considering the money -burning huge pit of the transition of the new four -man, GM has delayed the investment of the electric pickup factory twice, and re -examined the set goal of achieving 1 million electric vehicle output in 2025. Ford amended its strategy in practice, and has decided to re -examine the development of large electric vehicles and focus on the electric investment of small cars.
QUICK FACTSET data statistics, from July to September 2024, the sales revenue of 11 car companies around the world reached a profit margin of only 3.8%. Compared with 7%in the same period last year, it decreased by more than 3 percentage points.
In global companies, Tesla and BYD, which have outstanding profits, have their common points in common.
“Japan Economic News” believes that Tesla has focused on the research and development of pure electric models since its entrepreneurship, without any burden of the fuel vehicle era; BYD used battery manufacturing as a business center in the early stage. This is the core of the electric vehicle era. assets. Today, both companies have entered the harvest period of electricity investment.
In addition to China, other emerging markets also make multinational car companies feel pressure. Chinese car companies accelerate the “going to the sea” and are turning domestic capacity to export. As the head of Nissan, Uchida Uchida said at the financial report conference, the business of Japanese companies in Southeast Asia, the Middle East, and South America has also been affected by the influence of Chinese forces.
Inside the industry, the automotive industry is also experiencing the phenomenon of “smiling face curve”, which is similar to the industries such as electrical appliances. The so -called “smile curve” of the automotive industry, that is, the added value and profitability of the industry, is gradually moving to the upstream and downstream of the industrial chain. For example, vehicle software is becoming a key factor affecting vehicle functions Software definition of automobile (SDV) has become popular. In order to grab the beach intelligent market, auto companies either develop themselves, invest in shares, or strengthen cooperation in the vertical and cross -intensives. This is the long -term influence of car companies in the new era. Prerequisites.