German automakers urgently need to revive their market share in China to meet future challenges.

German media: German automakers must re-establish their foothold in the Chinese market to ensure future invincibility

As the Beijing International Motor Show opens, disappointing sales figures for German automakers in the Chinese market highlight the intense competition within China's automotive sector. The 'Handelsblatt' commented on this issue:

"One thing is certain: German manufacturers are fighting back. But whether German automakers can truly overcome their current difficulties in the world's most fiercely competitive market remains uncertain."

Even in private conversations, German auto executives dare not confidently claim that their newly launched models will turn the tide. Yet they all agree that the intense competition in China’s automotive market will persist over the next few years. Chinese people's character should not be underestimated: they possess strong ambition and a desire to make progress every single day. Today, domestically produced Chinese vehicles showcased at the Beijing Auto Show already surpass German counterparts in charging speed and driving range, while also offering lower prices. Given this reality, it is likely that the market share German automakers once enjoyed during China’s earlier stage of industrial development has now vanished forever. Nevertheless, the development potential of the Chinese market should still not be overlooked: currently, there are 137 cars per thousand people in China, compared to 585 in Germany.

For Germany’s core industry to demonstrate resilience and strength under pressure, a turnaround in the Chinese market is essential. While the increase in German car market share in Europe is encouraging news, it completely fails to offset losses incurred from declining market share in China. To remain unbeatable in the future and continue securing investments in Germany, German automakers must achieve substantial profits in the Chinese market.

Source: DW

Original article: toutiao.com/article/1863660261533834/

Disclaimer: This article represents the personal views of the author