Only Chinese Automakers Soared... Analyzing Car Sales Volume in Major Markets

Automobile Industry Association Analyzes Sales Volume in 8 Major Markets

Last year, in major global automobile markets, except for Chinese complete vehicle brands, other manufacturers saw either a decline or similar levels in sales volume. Chinese automakers expanded their presence primarily in their domestic market, surpassing American brands.

According to the report on last year's major automobile market sales and policy trends released by the Korea Automobile Manufacturers Association on the 21st, passenger car sales in the eight major markets (United States, China, Europe, India, Mexico, Brazil, Russia, ASEAN) totaled 58.53 million units, an increase of 1.2% compared to the previous year.

Visitors are crowding the exhibition hall of Chinese electric vehicle startup NIO at the Shanghai International Motor Show.

Examining sales by the nationality of each automaker, the remarkable progress of Chinese complete vehicle companies stands out. Chinese makers sold about 9.17 million units in 2021, which increased by 24% to 11.39 million units last year. Their share by maker nationality also rose from 15.8% to 19.5%.

During the same period, American makers maintained almost the same level, with sales increasing slightly from 10.64 million to 10.71 million units. Their share was similar, moving from 18.4% in 2021 to 18.3% last year, but they were overtaken by China. The association explained, "Local brands, including electric vehicle companies like BYD, grew centered on the Chinese domestic market, surpassing the American market share for the first time."

Kia EV9 concept car exhibited at the Shanghai International Motor Show in China

European makers recorded a 5.5% decrease to 15.08 million units, and Japanese makers fell by 5.9% to 14.78 million units during the same period. Korean makers also sold 4.28 million units, down 4.4%. The decline in European brands was largely due to the war, while the reduction in Korean brands was attributed to shrinking markets in China and Russia.

The electric vehicle market showed growth. Electric vehicle sales in the eight major markets increased by 43% compared to the previous year. The share of electric-powered vehicles was highest in Europe at 46.3%, followed by China at 31.2%, and the United States at about 12.3%. Other regions still have a small share, but their growth rates have recently accelerated sharply.

Kang Nam-hoon, chairman of the Korea Automobile Manufacturers Association, said, "As governments worldwide strengthen environmental regulations and pour out domestic industry support measures, there is concern about the loss of competitiveness in the domestic automobile industry. To avoid falling behind in the global technology hegemony competition and to maintain leadership in electric vehicle production, it is urgent to transition to electric vehicle production and secure future car ultra-differentiated technologies."