2023-10-08 09:57:15
Economy Global market shares
The emerging auto power China
As of: 09:57 a.m. | Reading time: 3 minutes
This year only 2,700 BYDs were registered in Germany. But there are likely to be more quickly
Quelle: VCG via Getty Images/VCG
So far, only a few cars from Chinese manufacturers can be seen on German roads. And brands from Europe continue to dominate on global markets. But China is rapidly catching up. A study shows how quickly. Europe could be too careless about it.
The warning from EU Commission President Ursula von der Leyen sounded drastic: “The world markets are now being flooded with cheaper Chinese electric cars,” she said recently in her “State of the Union Speech” to the European Parliament.
Because the price of these cars is “artificially depressed by huge government subsidies,” the Commission has launched an anti-subsidy investigation. It can lead to punitive tariffs against car imports from China.
So far, a ten percent tariff is due at the EU’s external border, while the USA charges an impressive 27.5 percent. Many observers were surprised after von der Leyen’s appearance, however, because the proportion of Chinese cars in the registration statistics of EU countries is growing. However, compared to the market share of European manufacturers in the People’s Republic, they are still very modest.
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Dealer versus manufacturer
There are still few Chinese cars to be seen on the roads in Germany – apart from Volvo, which belongs to the Geely Group. The then strongest brand, MG, had a total of around 14,000 new registrations in this country from January to August.
Source: Infographic WELT
That’s about as many cars as Skoda sells per month. BYD, market leader in the People’s Republic, has barely had a presence in Germany with 2,700 cars sold since the beginning of the year.
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But these numbers could change quickly – and with them the global distribution of power in the auto industry. European manufacturers still have a dominant position on global markets. But the Chinese are quickly catching up, within the EU and in other regions of the world.
Source: Infographic WELT
In 2030, analysts at investment bank UBS estimate that one in three new cars sold worldwide could come from Chinese production. The market share of established manufacturers would fall from today’s 81 to 58 percent.
Only in the USA, which has set up strict trade barriers against Chinese cars, are the cars not available. On the other hand, foreign manufacturers would be largely pushed out of China, the world’s largest car market.
According to the forecast, only 14 percent of all new cars in 2030 will come from competitors from abroad – which also produce there – plus six percent from Tesla.
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The driver of this development is, on the one hand, Chinese politics, which set itself the goal of building a car export industry many years ago. On the other hand, electrification is helping the Chinese because they have built a complete industrial system for the production of electric cars that does not yet exist in other regions of the world.
Source: Infographic WELT
China’s industry is already producing far more cheaply than its competitors in the West. When it comes to electric cars, manufacturers are even technologically ahead of some established companies. Combined with lower prices, this leads to a clear competitive advantage in countries that do not resist imports from China.
Chile, Peru and Ecuador, for example, as well as Egypt and Saudi Arabia, have been importing large proportions of Chinese cars for years. Compared to Russia, these markets are relatively small.
Western manufacturers have stopped delivering to Russia since the attack on Ukraine. Companies like Volkswagen and Renault have given up their factories there, and the Russians no longer have their own car manufacturers. Now China is filling the gap in its neighboring country.
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