China's global auto market share forecast to increase sharply
Chinese automakers continue to dramatically increase their influence in the world market, with their global market share forecast to reach 30% by 2030, according to market consultancy Alix Partners.
The main driving force for the growth of Chinese automakers comes from the solidity of the domestic market, which is expected to account for more than three-quarters of the domestic market share by 2030. In addition, major manufacturers such as BYD, Geely or Chery are also strongly increasing their activities in foreign markets, especially emerging markets such as South America, the Middle East and Southeast Asia, and entering large markets such as Europe. Currently, European Union officials are looking for measures to protect domestic manufacturers from concerns about the upcoming wave of Chinese cars.
Faced with mounting pressure, European automakers recently held an emergency meeting in Brussels with President Ursula von der Leyen to discuss a policy response. Attendees included leaders from Renault, Stellantis, BMW, and Mercedes. The automakers proposed extending the deadline for environmental standards, especially for light trucks and small cars, which have struggled to become fully electrified. They also called for allowing the development of a variety of energy technologies, not just pure electric vehicles.
The European Commission has shown some goodwill, agreeing to bring forward the policy review from 2026 to the end of 2025, and is open to discussing regulations for commercial vehicles and considering relaxing standards for small electric cars. However, industry experts say this response is too slow compared to the speed of the Chinese companies' advance.
“The market doesn’t wait for Brussels,” Stellantis Chairman John Elkann warned at the Munich Auto Show. While Beijing is ramping up across the board – from battery technology to supply chains to export networks – Europe remains mired in bureaucratic red tape and indecision. Without timely action, the European auto industry could lose its historic position, ceding the global playing field to Chinese competitors.
Source: https://vtv.vn/thi-phan-o-to-trung-quoc-tren-toan-cau-du-bao-tang-manh-100251006215244669.htm
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