Chinese OEM Overseas Expansion Activities: SAIC, Chery, Dongfeng, Changan

SAIC accelerates electrification overseas as well; Chery to export 50K units by 2025

2023/06/19

Summary

中国乘用车出口量

  According to a report by the China Association of Automobile Manufacturers (CAAM), Chinese automaker exports in 2022 grew 54.4% year-over-year (y/y) to 3,111,000 units. Of this total, passenger car exports grew 56.7% y/y to 2,529,000 units, while commercial vehicle exports were 582,000 units, an increase of 44.9% over the previous year. Exports of NEVs (New Energy Vehicles: battery electric vehicles (BEV), plug-in hybrids (PHV), and fuel cell vehicles (FCV)) increased 2.2 times over 2021, to 679,000 units.

  Sales by SAIC Motor Corporation Limited (SAIC Group) outside China have been increasing year after year, and the company has been the top among domestic automakers in China for seven consecutive years. According to MarkLines data, 2022 saw a 48.5% increase over the previous year to 824,000 units. In Europe, the company achieved the "100,000 unit level" for the first time. Its subsidiaries MG, SAIC-GM-Wuling, and SAIC Maxus have announced multiple global EV (electric vehicle) models and are promoting electrification.

  Chery Automobile Co., Ltd. (Chery Automobile) exported 450,000 vehicles in 2022 (MarkLines data), up 69.0% from the previous year. Major export models include the Tiggo 8, Tiggo 7, Exeed Lanyue, Exeed Lingyun, and Jetour X70. The company has more than 1,500 dealers and service centers in 80 countries and regions, and 10 plants outside China with a total production capacity of 200,000 units per year. The company aims to export 500,000 units with a value of USD 5 billion by 2025.

  The export volume of Dongfeng Motor Corporation (Dongfeng) in 2022 increased by 38.0% year-over-year (y/y) to a record high of 167,000 units (not including Jiangsu Yueda Kia Motors Co., Ltd., formerly Dongfeng Yueda Kia Motors Co., Ltd.). The company has stated that its export target for 2023 is 250,000 units. Voyah Automobile, a Group subsidiary which develops electric models, plans to launch vehicles in Israel, Sweden, the Netherlands, Denmark, and other countries in 2023.

  China Changan Automobile Group Co., Ltd. (Changan Automobile) had an export volume in 2022 of 249,000 units, an increase of 57.3% over the previous year. It was ranked fourth among the top 10 exporters of finished vehicles in 2022, according to the China Association of Automobile Manufacturers (CAAM). The export sales volume of Changan brand passenger cars and light-duty commercial vehicles totaled 147,000 units. The target for sales outside China in 2023 is 220,000 units, and the scale of overseas exports is set at 400,000 units by 2025, to account for 15% of the Group's sales volume. In addition, the company plans to enter 80 countries and regions, including Europe, Australia, New Zealand, the Middle East (GCC), Latin America, ASEAN, Africa, the Commonwealth of Independent States (CIS), Russia, and Pakistan.

  This report summarizes recent major developments in the global market for the Chinese government-affiliated manufacturers SAIC, Chery, Dongfeng, and Changan.

 

Related Reports:
Chinese OEM Overseas Expansion Activities: BYD, Geely, Great Wall, NIO, Xpeng (Apr. 2023)
Changan Auto: Target Sales of 2.8M Units in 2023, Rolling Out Multiple Electric Powertrains (Mar. 2023)
SAIC: Cultivating Global Markets, Focusing on Hydrogen Fuel Cell Vehicles (Jan. 2023)
Dongfeng Motor: Targeting sales of 1M each of CVs, own-brand cars, and NEVs by 2025 (Sep. 2022)
Chery: Strategic alliances with high-tech companies, exporting 500,000 units by 2025 (Aug. 2021)
Foreign investments of Chinese automakers: SAIC Motor and Great Wall Motor (Jun. 2021)

 

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