The increasing popularity of electric vehicles and the rising demand for economically priced cars are causing Chinese car brands to gain attention worldwide. According to the latest research by AlixPartners, by 2030, 33% of global car sales will belong to Chinese firms. Currently, this rate is at 21%. Chinese manufacturers will notably hold a 12% share in the European market and a striking 72% in their domestic market. Additionally, their sales outside China are expected to triple by 2030, reaching 9 million units.
By 2030, 1 Out of Every 3 Cars Sold Will Be Chinese
This growth poses a serious threat to Western car manufacturers. Recently, including Turkey, many countries have taken measures against Chinese car brands, such as additional customs duties. The European Union and the United States have similarly increased taxes. However, these measures seem unlikely to stop the rise of Chinese brands. Chinese cars are preferred by consumers both for their leading position in the electric vehicle sector and for their affordable, high-tech, and stunning designs. This situation will further solidify their presence in the global market and seems likely to significantly alter the balance in the car market.
