In the first half of this year, domestic car sales reached 2.79 million units, marking a 9.4% increase compared to the same period last year. Among all vehicle segments, passenger cars remained the most prominent, with over 1.3 million units sold—an increase of more than 17%. While the overall market for other vehicle segments saw modest growth, major automotive groups such as Dongfeng, SAIC, and Changan have been actively involved in the mini-commercial vehicle (mini-vehicle) segment, which has recently gained significant attention from industry observers.
Although the mini-vehicle market generates lower revenue and profit compared to other segments, its high turnover rate makes it a key driver for many automakers. Major companies like SAIC, Dongfeng, FAW, and Changan have all invested heavily in this sector, recognizing its strategic importance. In the first half of the year, mini-vehicle sales increased by approximately 10% year-on-year, reaching 553,360 units. Despite this growth, their share of the total auto market remained around 20%, similar to previous years.
The internal structure of the mini-vehicle industry, however, has seen notable shifts. In 2004, the top five players were Changan, SAIC-GM-Wuling, Hafei, Jiabao, and Changhe. By the first half of this year, the rankings had changed slightly, with SAIC-GM-Wuling emerging as a rising force. The company’s sales surged by 41.7% year-on-year, pushing its market share from 25% to nearly 30%. This rapid growth has brought it closer to Changan, the traditional leader in the segment.
Industry experts predict that mini-vehicle sales will surpass 1.1 million units this year, representing an increase of over 10% from 2022. With growing market concentration, the two leading players—Changan and SAIC-GM-Wuling—are expected to further consolidate their positions.
To stay competitive, SAIC-GM-Wuling has made significant investments this year. It launched a 300,000-engine plant with a total investment of 3.2 billion yuan and acquired Qingdao Suizhong Automobile for 300 million yuan, boosting its production capacity by nearly 70,000 units. The company aims to reach 500,000 units in production and sales by 2010, positioning itself as a major player in the mini-vehicle market.
Meanwhile, Changan, the long-time market leader, has not made large-scale investments but leveraged its extensive product lineup and R&D capabilities. It launched a price war and introduced the new Changan Radium G, equipped with a 1.3L engine developed independently.
FAW Jiabao, on the other hand, struggled this year, losing market share from 10% to 6% and dropping from fourth to fifth place. However, with the group facing financial difficulties, it is expected to launch a revitalization plan in the second half of the year, with Jiabao playing a crucial role in its recovery efforts.
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