World car sales reached 7.15 million units in July 2023, up 6% year-on-year and still slightly 2% lower than July 2018. From January to July 2023, the world automobile sales volume reached 49.6 million units, with a year-on-year growth of 10%. Due to the improvement of chip supply, the operation of the world automobile industry improved significantly, resulting in the improvement of sales volume of international automobile enterprises. In 2023, the cumulative share of Chinese automobile enterprises in the world reached 32%.
From a global perspective, China's auto market recovered slowly in July, accounting for 33% of the world's auto share. BYD and SAIC Motor Group and other Chinese auto companies recovered most effectively, while Asian groups represented by Toyota and Suzuki Kia improved their performance. The international chip shortage in the past two years has had little impact on China's auto market, but it has promoted China's auto exports to perform strongly, seize the huge gap between supply and demand in the international market, and obtain rare development opportunities. As a highly monopolized industry such as auto chips, this supply-side tightening will bring significant opportunities for the rise of China's supply chain, and the development of electrification has also led to the rapid decline of European auto companies.
