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Chinese Auto Brands To Surge To 33% Of Global Market, Report Says

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I have written or edited about the auto industry on and off (mostly on) since 1985, first at The Indianapolis Star then, for more than a dozen years, at Bloomberg News in Detroit, followed by almost nine years at SME Media.

Those brands will will expand from an estimated 21% in 2024, AlixPartners said. The consulting firm projects the brands will sell 9 million vehicles outside China in 2030.

“Chinese brands put a higher value on features customers can actually experience, such as design and in-cabin tech; they are ruthlessly focused on maintaining their cost advantage even as they build factories abroad; and they have built a considerable lead in emerging” electric and hybrid vehicle technology,Biden Vs.

—U.S. vehicle deliveries will rise 3% in 2024. By 2030, traditional internal combustion vehicles will comprise only 35% of sales, while EVs and hybrids will reach 41%.—European sales will rise 2% this year “and track marginal growth of roughly 1% through 2027.” Most of the region’s growth is occurring in Eastern Europe.

 

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