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Chinese cars aim for 30% European share
City Bank analysts expect Chinese automakers to significantly expand their presence in the European market in the coming years, with their market share projected to rise to between 15% and 30% by 2035, compared to around 10% currently. This growth is likely tied to potential European Union policies that could allow for increased market shares, although the "Made in Europe" requirement might limit this to about 15% due to local manufacturing and European supply chain requirements. Furthermore, Chinese expansion could lead to a substantial decline in sales for European and German automakers, with drops potentially exceeding 500,000 vehicles for companies like Volkswagen and Stellantis. Meanwhile, the market is expected to see a slight increase in European car sales, rising from 13.3 million to approximately 13.8 million by 2035. On the other hand, luxury vehicles are less affected, with forecasts indicating only a limited decline in sales for BMW and Mercedes, owing to customer preferences such as quality and after-sales services.
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