In 2023, amidst the sluggish market environment, there is a category that has experienced an unprecedented boom – low-speed four-wheel exports are booming, and many Chinese car companies have won a considerable number of overseas orders in one fell swoop!
Combining the domestic market development of low-speed four-wheel vehicles in 2023 and the market phenomenon that is booming overseas, we can not only see the development trajectory of the low-speed four-wheel industry in 2023, but also find out the development path that the industry is urgently seeking.
The electric vehicle market in 2023 can be described as “bloody”. From the data, the overall sales volume for the whole year is between 1.5 million and 1.8 million vehicles , and the growth rate is obvious to all in the industry. From the perspective of brand structure, the industry reshuffle has further intensified, with brands such as Shenghao, Haibao, Niu Electric, Jindi, Entu, Shuangma, and Xinai competing for supremacy, and brand concentration has further strengthened .
It is worth noting that among them, brands such as Jinpeng and Hongri occupy a considerable market share, and the emergence of oligopoly is also a major feature of the industry in 2023 .
There are two major factors that contribute to the significant growth of low-speed four-wheelers in 2023: on the one hand, consumer demand. Driven by the “three-wheeler replacement” in rural areas, low-speed four-wheelers, which are high-end models with higher cost-effectiveness, more comfortable driving and more face, naturally become the only choice for mothers and the elderly to travel. On the other hand, with the strong entry of caravan brands and the support of hard-core technology, the quality and performance of low-speed four-wheelers have also increased linearly.
While deepening their presence in the domestic mobility market, Chinese automakers are also continuing to expand overseas channels. With advantages such as price advantage, low cost of use, and strong road adaptability, low-speed four-wheelers are rapidly becoming popular in Southeast Asia, Central Asia, Africa, Europe and the United States.
At the Canton Fair last year, CCTV Finance reported on the export of low-speed four-wheelers. During the interview, many customers highly recognized the convenience, economy, and high-quality durability of China’s low-speed four-wheelers. At the same time, corporate sales representatives also highly recognized the overseas development prospects of low-speed four-wheelers: they believed that the narrow urban roads in Europe and the United States are highly compatible with small electric vehicles, and believed that the high-quality, energy-saving, environmentally friendly, and economical low-speed four-wheelers will win the favor of more foreign merchants in the future.
It is reported that not only Jiangsu Jinzhi New Energy Vehicle Industry, a subsidiary of Jinpeng Group, has achieved the export of low-speed vehicles to Turkey, Pakistan, Austria and other countries and regions, but companies such as Haibao, Hongri, Zongshen and Huaihai have also made long-term deployments on the export of low-speed four-wheel vehicles.
In fact, combining the above data and phenomena, we can reflect on this question again: Why does the low-speed four-wheeled vehicle with unclear policies have always had a market? We will find some interesting points. The reason why the low-speed four-wheeled vehicles that can be bought but not used in China can achieve counter-cyclical growth in 2023 is that the technological innovation of the products is a key factor, and the hot export of low-speed four-wheeled vehicles has once again confirmed the high quality of low-speed four-wheeled vehicles.
Improving quality is one aspect of the answer to the question “Why does low-speed four-wheelers always have a market despite unclear policies?” The reason why low-speed four-wheelers always have a market is that there is demand for their use, and in recent years it has even shown a rising trend year after year.
In summary, whether from the perspective of industrial development or from the perspective of social livelihood, standardized management is actually the only way to develop low-speed four-wheelers. From production, sales to traffic management and other links, every development link of low-speed four-wheelers must have laws to follow, further improve the manufacturing standards of the industrial chain, and issue national product quality standards as soon as possible. This is the development path that the industry is struggling to find.
Combined with the 2023 annual report of low-speed four-wheelers, how to target new trends and win new development for existing data and phenomena? The low-speed electric vehicle industry has reached such a consensus: while continuing to tackle technological innovation, while looking forward to the promulgation of policies and the implementation of standards, I believe that the low-speed travel industry will eventually usher in an unprecedented market dividend explosion!
Post time: Aug-09-2024