China is now the third-largest importer of recent vehicles in Australia, and it doesn’t appear to be slowing down any time soon.
Last 12 months, 210,113 recent cars made in China were delivered to Australian customers, representing slightly below 17 per cent of the 1,237,287 total deliveries made within the record 2024 market.
It’s a pointy increase in exports from the world’s second most populous nation and Australia’s biggest trade partner, which accounted for just 1.7 per cent of the local auto market five years ago in 2019, and lower than half a percent a decade ago.
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Despite growing by almost nine per cent last 12 months alone, vehicle services and market intelligence firm Cox Automotive Australia has forecasted Chinese imports will account for a good greater share of the brand new automotive market in 2025.
In keeping with the automotive industry group, Chinese brands could get near taking a 20 per cent stake within the Aussie auto market this 12 months.
While this is barely up by three per cent from the share held by Chinese-made vehicles last 12 months, Cox’s forecast excludes cars inbuilt the country by foreign-owned brands.
That features Tesla (which builds the Model Y and Model 3 there), BMW (iX3), Mini (Cooper E), Volvo (XC40 Recharge) and others which counted towards the whole.
With these vehicles excluded, Cox says roughly 142,000 cars were sold here by Chinese auto brands in 2024, accounting for a 12 per cent market share.
Based on the firm’s prediction of 1.18 million recent vehicle sales this 12 months, which means the Chinese marques could mix for 236,000 deliveries in 2025.
For context, that figure combined with sales of vehicles made within the nation by overseas brands could see China topple Thailand because the second biggest source of Australian vehicle imports (thanks largely to utes).
Last 12 months, 272,139 recent vehicles got here here from Thailand. Japan continued as Australia’s primary vehicle importer with 378,911 (thanks largely to market leader Toyota).
In keeping with Cox, this increase won’t only be driven by the likes of MG, GWM, BYD, LDV and Chery, but in addition new-to-arrive or returning marques equivalent to Geely, Foton, Xpeng, Leapmotor, Deepal and JAC, to call a couple of.
“By the top of 2025, there shall be around 15 Chinese brand names available in the market, covering all segments and fuel types, with price bands from $25,000 and into six-figures,” Cox said in a media release.
Despite Chinese brands often being considered a few of the most reasonably priced available on the market, the title of Australia’s least expensive vehicle is currently held by the South Korean-made Kia Picanto, with the Suzuki Ignis, Hyundai Venue and Japanese-built Mazda 2 all also being cheaper than the outgoing-generation MG ZS.
Nevertheless, the GWM Ora stays Australia’s least expensive electric vehicle (EV), and it’s this technology that China has been so dominant in selling, each globally and locally.
Last 12 months, eight of the ten best-selling EVs in Australia were made in China, with five coming from Chinese-owned brands (MG, BYD and Volvo).
This Article First Appeared At www.carexpert.com.au
