Chinese automakers are increasing their influence throughout the world.

The environment for global automakers has become even more challenging with the post-pandemic slump in demand for BEVs, inflation and uncertainty due to geopolitical tensions, and intensified sales competition from emerging companies introducing low-cost, connected BEVs.

Even under such circumstances, many automakers are maintaining their long-term shift toward BEVs and toward BEVs with net-zero life-cycle carbon emissions.
In addition, in order to secure revenues based on BEV products, all companies are pursuing a policy of converting vehicles to software-defined vehicles (SDVs) and aiming to increase revenues through digital services.

According to data from the China Association of Automobile Manufacturers (CAAM), the number of new vehicles exported in 2024 (including vehicles produced at Chinese plants of foreign manufacturers such as Tesla) will grow to 5,859,000 units (4,955,000 passenger cars and 904,000 commercial vehicles) for the second consecutive year, although the year-on-year growth rate is 19.3%, down 38.5 percentage points from the previous year. This is the second consecutive year that the Company has been the world’s top automaker in the market.
Efforts are being made to increase the ratio of sales outside of China by expanding sales channels from the increasingly competitive Chinese market to Southeast Asia, Latin America, the Middle East, and Africa.