Chinese investment in the automotive industry worldwide has been growing rapidly in recent years, considering that in 2000 China occupied only 1% of global sales of new vehicles, while in 2017 it amounted to 30%. %, selling around 28.9 million new cars, which has allowed it to have almost the same level of the United States and Europe combined.
In Ecuador this trend is also lived. According to the Ecuadorian Chamber of Automotive Industry, the cumulative variation from January to August of this year, the sale of vehicles from China has increased by 103%. Although those of Hungary have the record with a 1.362% of growth, but this is due to the commercial agreement that exists between Ecuador and the European Union.
But following the analysis of the Asian country, China has control of 14.8% of the world economy and through this large participation seeks to lead the automotive sector, focusing on innovation and technological quality of its wide range of vehicles and mainly in the autonomous production of new energy cars (hybrids and electric).
The development and innovation in electric vehicles and autonomous vehicles have allowed automotive brands to become highly technological companies, adapting new devices, different ways of driving and even new items of entertainment and safety for their cars, becoming a competitive advantage for the Asian giant.
In the Latin American market these factors have predominated in the users, allowing the Chinese automakers to position themselves as an alternative of mobility. Among the main brands that have put their vision in Chinese vehicles for our region are BYD, Changan, FDG, Cherry, BAIC Motors, Geely, Foton, Wuzhoulong, Yutong and Zotye Auto, among others; they have already managed to satisfy and adapt to the needs of drivers, for their designs, performance, equipment and mainly for their competitive prices with respect to other brands.
Here is an example of how sales of Chinese cars increase in the country.
Miguel Ángel Sandoval, commercial manager of Foton of Ecuador, told Diario EXPRESO that Foton went from billing 151 to 291 units in 2017, which means a 93% growth for the brand. He explained that before the portfolio was 10 versions, however for the growth of the brand, Foton Internacional has focused on the Ecuadorian market and last September, launched new models, having a presence in the market with more than 27 models.
According to a study by Price Water House Cooper, China is projected to occupy the first place in the world economy by 2030 and as a leader in 21st century transport technologies, producing new energy vehicles for the mobility of the future.
Some brands that are marketed in Ecuador
It is one of the 3 largest automotive factories in China that was born from a Joint Venture, in Ecuador in 2017, until August they had a participation of commercial cars sales of 3%; this year it remains.
It is a Chinese state-owned manufacturer. In Ecuador last year until August they had a 3% share in the commercial car market; This year of the same period is 5%, according to the Association of Automotive Companies of Ecuador.
Chery It is a car manufacturer brand founded in 1997 with headquarters in Wuhu, China. In Ecuador until August 2017, it had a market share of 4% in commercial vehicles; this year it is 5%. (I)