Chinese cars aim for 30% Euro market
Analysts at Citibank expect the expansion of Chinese car manufacturers in the European market to continue over the coming years, with their market share likely to reach between 15% and 30% by 2035, up from around 10% currently. This growth is attributed to European Union policies, such as customs tariffs and the "Made in Europe" rules, which could significantly limit this expansion. If the "Made in Europe" requirement, which mandates local assembly, is enforced, Chinese companies' shares could be reduced to 15% or even as low as 5%. Projections also suggest a substantial decline in the market shares of European and German automakers, while luxury car brands are expected to be less affected due to other factors like service quality and brand loyalty. Meanwhile, Chinese passenger car exports have shown strong growth, increasing by 73% over the year despite a decline in domestic sales.
Notice: This Is an AI-Generated Summary
Comments (0)