South Korean media: Chinese automobiles are advancing globally, while German automobiles are shrinking!

On April 6th, South Korean media outlet "Everyday Economy" published an article stating that the global automobile market is presenting completely different trends.

The traditional automotive giants are responding by undergoing structural adjustments, but the active expansion of Chinese enterprises is ongoing.

Despite the United States and Europe strengthening their containment of China, the share of Chinese automobiles in the global market is increasing.

U.S. President Donald Trump threatened to impose additional tariffs on imported automobiles, and Canada and the European Union also imposed tariffs and strengthened regulation on Chinese-made electric vehicles.

However, despite these restrictions, Chinese automobiles are actually expanding their influence in emerging markets.

In South Africa, sales of Chinese automobiles increased fivefold in 2019, with a market share reaching nearly 10%.

In Turkey, the market share of Chinese brands was small before 2022, but it rose to 8% in the first half of last year.

Last year, China became the world's largest automobile exporter. According to statistics from the China Association of Automobile Manufacturers, passenger vehicle exports reached 5 million units last year, an increase of 22% over the previous year.

Meanwhile, traditional automotive giants are facing crises. Audi plans to cut 7,500 jobs by 2029.

Volkswagen is also implementing cost-cutting plans including layoffs and production halts.

Under the surge of BYD, Tesla is also facing sluggish sales.

In January, Tesla's U.S. sales fell 11% year-on-year. In the same period, sales in the Chinese and European markets fell 49% and 45%, respectively, showing a downward trend for five consecutive months.

The automotive industry is presenting different trends in the global market, and how each country's response strategies will change the future market landscape is attracting much attention.

Original source: https://www.toutiao.com/article/1828641882549257/

Disclaimer: This article represents only the views of the author.