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Chinese OEMs conquer international markets
The market positioning of global car manufacturers is undergoing dynamic changes with an increasing dominance of Chinese manufacturers. Some are pursuing a critical strategy. This is the result of the market positioning matrix of the Center of Automotive Management (CAM), which examines sales growth and the role of global players in the key automotive markets.
The technological transformation, increasing competitive intensity and geopolitical tensions would make it more difficult to maintain years of sales success.
The study, which is the result of a cooperation between CAM, a telecommunications company and the trade journals Automobilproduktion and AutomotiveIT, compares the 30 largest automotive groups.
Overall, the automotive groups surveyed recorded an increase in sales of almost ten percent compared to the previous year 2022, with Chinese OEMs such as BYD, Chery and GAC achieving the highest growth rates and conquering international markets. BYD, for example, is the first Chinese manufacturer to make it into the top 10 of the world's highest-volume car companies - and at the same time is increasing its market share in its own country by more than ten percent. The market relevance of German manufacturers in China is Janus-faced
"On the one hand, manufacturers benefit from the high demand and growth of the world's largest car market," says study leader Stefan Bratze, Director of CAM in Bergisch Gladbach. "On the other hand, a global market position that is as balanced as possible in the various automotive regions strengthens resilience in the long term."
Global car manufacturers under the microscope
In terms of vehicle sales volume, Toyota is the largest car manufacturer in the world. The VW Group is positioned as the second-largest manufacturer, with Europe accounting for more than 40 percent of total sales and vehicle volumes in China growing at a below-average rate. General Motors remains the market leader in the USA, with sales in the Chinese market falling. This is due to the immature and uncompetitive range of New Energy Vehicles (NEV). The VW Group remains underrepresented in the USA. For the first time, the US electric vehicle manufacturer Tesla overtook the German group in terms of vehicle sales with 655 thousand vehicles sold.
High concentration, high vulnerability?
The market positioning of the German car manufacturers BMW, Mercedes-Benz and Audi varies marginally overall, with BMW leading in terms of sales volume with around 2.5 million passenger cars. The three car manufacturers only register more than 65 percent of new German premium vehicles in Europe and China.
The concentration on the two market regions goes hand in hand with vulnerability: Mercedes-Benz in particular recorded a decline in sales to 737 thousand vehicles in China. The car manufacturer sells just under half of its models in Europe. In the USA, all German premium manufacturers are unable to achieve sustainable growth. BMW and Mercedes-Benz have been selling between 300 and 400 thousand cars per year for more than ten years, while Audi has remained constant at around 200 thousand units per year.
Automotive markets: China slows down, India accelerates
China is still on course for growth. Nevertheless, the country recorded the weakest growth compared to the previous year in the market region. This is due to the coronavirus-influenced years and the shortage of semiconductors. The government scrappage scheme to accelerate the sale of commercial vehicles supports this assumption. Another reason for the increasing internationalization of Chinese manufacturers is the saturation tendencies and high competitive dynamics in China.
Although the other core regions of the USA, Europe, Japan and Brazil have all recovered noticeably, they still remain below pre-Corona levels.
India is the exception: the sales volume in 2023 increased by 8.2% compared to the previous year 2022. India is thus positioning itself as a production and sales location and is becoming interesting for both volume and premium manufacturers.
