The automotive market in China has experienced remarkable growth, with car sales exceeding 30 million in 2023. This surge not only highlights the nation’s thriving automotive industry but also marks a significant shift towards New Energy Vehicles (NEV) as a dominant force in the evolving landscape. This shift is evidenced by the increasing readiness among Chinese auto buyers to accept only NEV when shopping for a new vehicle, with 66% expressing this preference by the end of 2025, a figure expected to rise to 82% by 2030.1
The momentum of NEV is propelling the industry towards a milestone of 10 million units.2 Innovation is accelerating. Urban Science data reported by the end of 2023 the Chinese automotive market had 1144 car models in the market, including 552 NEV models. Despite this, the average monthly sales for these models remained low at around 1,222 units each.
In such a highly competitive market environment, automotive manufacturers and dealers need access to accurate and actionable data to quickly understand their market position, evaluate the competition, improve sales performance and grow market share. As an old saying goes: “Know your enemy and know yourself; you will not be imperiled in a hundred battles.” In this constantly evolving market environment, it is essential to easily analyze geographical locations and market segments, considering combinations of sales and competition.