Tesla is no longer the sole leader in the "sea going" of new energy vehicles, and Shanghai's automobile export data exceeds expectations. Automobile exports | passenger cars | data

There is good news coming from Shanghai's automobile exports. According to data released by Shanghai Customs on June 14th, the export of electric passenger vehicles in Shanghai increased by 152.9% year-on-year in the first five months of this year, with a significant growth rate.

Shanghai is a major hub for China's automobile exports, and exceeding expectations in Shanghai's automobile exports largely reflects the new trends in China's automobile exports. With the rapid growth of sales of new energy vehicles, especially the doubling of exports, Chinese cars are gradually moving from low-priced exports to a new stage of simultaneous increase in quantity and price, ushering in a new phase of automobile exports.

Tesla is no longer "dominant"

According to data previously released by Shanghai Customs, the export of electric passenger vehicles in Shanghai increased by 152.9% year-on-year in the first five months of this year, which is much higher than the growth value of 98.9% in the same period of 2022, and the growth rate has significantly increased.

Why is the export of electric vehicles in Shanghai growing rapidly? On the one hand, the low export value base of Shanghai's new energy vehicles in April and May last year had an impact on the data. On the other hand, it should also be noted that with the continuous expansion of domestic brands into overseas markets, the export momentum of Shanghai automotive companies has indeed been strong recently.

SAIC and Tesla are the two major exporters of Shanghai automobiles. According to data from the China Association of Automobile Manufacturers, the total export volume of Chinese automobile enterprises reached 1.758 million vehicles in the first five months of this year, a year-on-year increase of 81.5%, setting a new historical high. Among them, SAIC Group exported 396000 vehicles, accounting for 22.5% of the total export volume, ranking first in the country; Tesla China exports 163000 vehicles, accounting for 9.3% of the total export volume, ranking third in the country.

In terms of new energy vehicles, according to the latest data from the National Joint Conference on Passenger Car Market Information, China's export volume of new energy passenger cars reached 91000 units in April this year, accounting for 31% of passenger car exports, including Tesla China's 35886 units and SAIC Motor's 21450 units. The two companies rank first and second in the country, accounting for approximately 40% and 24% of the total export volume, respectively.

Tesla's electric vehicle exports are easy to understand. With the upgrade of production lines last year, Tesla's Shanghai super factory has further improved its delivery capacity to the world, and the number of electric vehicle exports has remained stable at a high level in China.

The new trend is that the export of domestic brand electric vehicles is growing rapidly, and the pattern of China's new energy vehicle exports is no longer dominated by Tesla. Compared with the same period data in 2021, among the 17000 new energy passenger vehicles exported by China in April of that year, Tesla China exported 14174 vehicles and SAIC Motor exported 2378 vehicles. At that time, Tesla's new energy vehicle exports accounted for as high as 82%. But now, while Tesla's new energy vehicle exports have doubled, the proportion has decreased to 40%. Independent brands such as SAIC, BYD, Geely, and new force brands such as "NIO" have occupied more export space.

The export direction has increased in both quantity and quality

In early June, The Wall Street Journal published an article stating that "China has shaken the global automotive industry twice this year." The first time was at the Shanghai Auto Show, where Chinese electric vehicles shocked Western competitors with their quality, functionality, and price. The second time was when China released its 2023 first quarter automotive data, replacing Japan as the world's largest exporter of cars.

The Wall Street Journal's description aligns with the two main characteristics of China's current automobile exports: the quantity and quality of exports are gradually improving.

A report recently released by KPMG shows that in 2022, China's share of global new energy vehicle sales reached 64%, and nearly half of the vehicles are exported to the European market. China's export volume of new energy vehicles to Europe continues to lead other regions. In terms of price, the average export price of new energy vehicles in China was $5000 in 2019, increased to $22000 in 2022, and reached $30000 in Europe.

In the view of Kang Yong, Chief Economist of KPMG China, it is very important for China to increase the proportion of exports to Europe, which will help to increase the unit price of new energy vehicles in China. Previously, ASEAN was the destination for most of China's new energy vehicles. Generally speaking, the car prices for China's exports to ASEAN are lower, while the car prices for exports to Europe are higher than the average level for exports to the world.

In addition, Chinese electric vehicles are also entering the Russian and South American markets on a large scale this year. According to data from the China Association of Automobile Manufacturers, in the first quarter of this year, the top ten countries in terms of export value of domestic automotive products were Russia, the United States, Mexico, the United Kingdom, Belgium, Japan, Australia, Germany, the United Arab Emirates, and South Korea, respectively. Russia has become the country with the highest export value of new energy vehicles from China.

Taking SAIC as an example, SAIC has currently opened multiple self operated international routes in Southeast Asia, Mexico, South America, West Europe, and other regions, forming five "50000 vehicle level" regional markets in Australia, New Zealand, the Americas, the Middle East, ASEAN, and South Asia. SAIC has created its first overseas "100000 vehicle level" market in Europe and is preparing to enter the "Russia Belarus Kazakhstan" market.

Transformation and upgrading of the entire industrial chain

Automobiles have always been the pearl of industrial manufacturing and the product of high-level industrialization in the country. Both Germany and Japan, traditional manufacturing powers, are the world's most important automobile exporting countries, and to this day, more than half of their automobile production is used for export.

On a car, you can see the achievements of various cutting-edge industries, such as aerospace, materials technology, communication satellites, etc. In recent years, the rapid transformation of Chinese automobiles towards intelligence and electrification also relies on the synchronous development of industries such as intelligent software and power batteries in China.

Against the backdrop of a downward trend in global demand, China's electric vehicles are going against the trend and reflecting the development opportunities brought by the transformation and upgrading of China's manufacturing industry.

Recently, Professor Dalia Marin from the Technical University of Munich published an article in the German media "Business Daily", stating that Germany's industry is being impacted. "In 2022, for the first time, Germany's exports of cars to China will be less than those from China, and there is a similar trend in the field of mechanical manufacturing."

Kang Yong said, "In the past, almost 100% of the products in the field of construction machinery were sold domestically, and exports were almost negligible. However, now Chinese excavators are also starting to 'go global', which is a completely unimaginable trend in the past." According to data from the China Construction Machinery Industry Association, the export sales of excavators in China reached 35000 units in 2020, and 109500 units in 2022. Institutions predict that the export sales of excavators will still remain around 30% in 2023.

At present, Chinese car companies are not only expanding their products overseas, but also driving production capacity overseas and deepening the construction of global industrial chains. Starting from a single export trade model, China's new energy vehicles are diversifying their overseas market development methods, such as cross-border mergers and acquisitions, construction of overseas production bases, establishment of global research and development centers, expansion of sales outlets, and brand promotion. They aim to better meet local consumer needs through localization strategies, enhance brand influence, and deepen the global layout of China's industrial chain.