The Crazy Number That Comes From China

The striking power of Chinese manufacturers is enough to be frightening. Their ranges are being renewed so quickly that the average Chinese electric car on the road is only two years old! It’s certainly less than the smartphone you hold in your hands…

If you are at least frugal, you keep your smartphone for several years just to make it profitable. Given how these devices are discounted, it’s probably the smartest choice… And it’s even worse for automobiles, where the loss of value is extremely significant in the months following leaving the dealership. Well know that this automotive philosophy is completely different in China.

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China: the electric car only has two years of life expectancy

The electric models circulating in the Middle Kingdom are extremely young, with an average age stagnating at just two years. Are the Chinese so rich that they can change cars with a snap of their fingers? Not exactly. This frantic pace is in reality dictated by manufacturers, who are constantly releasing new models. In any case, this is what the Hejun Consulting firm reports.

Speed of innovation: the electric motor beats the internal combustion engine

The firm estimates the average age of Chinese electric vehicles at 1.8 yearswhen the Chinese thermal car is on average 8.2 years old. This is much more, but still less than in France where the vehicle fleet is almost 12 years old! Why such a gap between the coil motor and the internal combustion engine? This can be explained by extremely different innovation dynamics.

Screens, autonomy, driving: the new diktat of obsolescence

While thermal blocks currently come up against a glass ceilingelectromotors still have considerable room for progress. Batteries, motors, electronics and autonomous driving technologies are constantly improving, to the point of making a supposedly new model ultimately obsolete. China’s industrial strength also allows it to quickly develop new models.

90% renewal: an unprecedented culture of consumption

While the life cycle of a thermal vehicle varies between 6 and 8 years, that of an electric or hybrid equivalent is only 3 to 5 years. This inevitably has an impact on the behavior of motorists. In China, if 70% of owners of thermal models renew their vehicle at most every 5 yearsthe share rises to 90% for owners of electric and hybrid cars.

An exploding market, a crumbling planet?

Given that a growing portion of buyers are primarily looking for on-board equipment and technologies, this further reduces the ownership time of the same model. This is how an incomplete autonomous driving system or a sluggish screen can become disqualifying! With these constant renewals, the automobile market will only do better. The environment, a little less…