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Chinese automakers to take majority of home market for first time - forecast

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Chinese auto brands are on track to account for just over 50 per cent of the cars sold in their home market this year thanks to a growing dominance in electric vehicles, consultancy AlixPartners said on Wednesday.It would represent the first time Chinese automakers have controlled a majority share of Chin

Chinese auto brands are on track to account for just over 50 per cent of the cars sold in their home market this year thanks to a growing dominance in electric vehicles, consultancy AlixPartners said on Wednesday.

But competitive pricing, faster rollouts of new models and the rise of domestic electric carmakers like BYD, Nio and Xpeng Motors have changed the dynamic for made-in-China auto brands.AlixPartners forecast China's overall auto sales would grow 3 per cent this year to 24.9 million vehicles, recovering to the level of sales before COVID-19. It forecast growth to 30.6 million vehicles in 2030, when it projected more than half of vehicles sold in China would be EVs.

But Chinese EV makers have also gained ground from a focus on features such as advanced driver assistance systems even on cheaper cars, the firm said.

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