Japanese Auto Media: Chinese Cars Double Sales in Latin America and the Caribbean, Challenging European and Japanese Automakers
According to a report by Japanese automotive publication BEST CAR on October 23, the surge in electric vehicle (EV) sales is reshaping the global automotive market landscape. Among the major players, Chinese manufacturers are demonstrating particularly strong momentum. The International Energy Agency (IEA) has noted that Japanese and European automakers risk losing market share as a result.
By the first half of 2026, domestic sales of Chinese vehicles are projected to decline by approximately 20%, while sales in Southeast Asia are expected to rise by around 75%, in Europe by roughly 30%, and in Latin America and the Caribbean by a doubling. Global EV penetration is also anticipated to reach approximately 30%.
In emerging and developing markets excluding China, Chinese-made electric vehicles account for about 60% of total EV sales. In South Africa and Latin America, this share reaches as high as an extraordinary 90%.
The driving force behind this expansion lies in cost competitiveness. It is reported that production costs for pure-electric vehicles in China are approximately 35% lower than those in developed nations. Beyond policy support, improvements in supply chain efficiency and advancements in battery technology have been critical factors.
Moreover, by 2035, emerging and developing markets are expected to represent about 60% of global vehicle sales. If Chinese manufacturers continue to make gains, Japanese and European automakers could face significant challenges.
Meanwhile, reports indicate that over one million Chinese-exported electric vehicles delivered in the past 18 months remain unregistered in their destination markets—suggesting that competitive pressure will persist.
The future of the global automotive industry over the next decade will hinge on the ability to deliver electric vehicles that are both compelling and competitively priced.
Original article: toutiao.com/article/1879805772385360/
Disclaimer: The views expressed in this article are those of the author alone.