Chinese Automakers To Grab 33% Of Global Market Share By 2030 Even After US And EU Tariffs: Report

[Beijingwalker]

Chinese Automakers To Grab 33% Of Global Market Share By 2030 Even After US And EU Tariffs: Report​

by Benzinga Neuro, Benzinga Staff Writer
June 28, 2024

Chinese automakers are projected to significantly expand their global market share, potentially reaching 33% by 2030, a recent report by AlixPartners suggests.

What Happened: The report, released on Thursday, forecasts a substantial rise in the global market share of Chinese automakers, from 21% this year to 33% by 2030, reported CNBC.

This growth is expected to be driven by a significant increase in sales outside of China, from 3 million this year to 9 million by 2030.

The report also predicts that Chinese automakers will expand across all global markets, with the most significant growth expected in regions such as Central and South America, Southeast Asia, the Middle East, and Africa.

"China is the industry's new disruptor – capable of creating must-have vehicles that are faster to market, cheaper to buy, advanced on tech and design, and more efficient to build," said Mark Wakefield, global co-leader of the automotive and industrial practice at AlixPartners, in a statement.

Despite the rapid expansion, the report suggests that Chinese automakers will face challenges in Japan and North America, where stringent vehicle safety standards and a 100% tariff on imported Chinese EVs have been announced.

Why It Matters: There is a growing concern that the less-expensive, China-made vehicles will flood the markets, undercutting domestic-produced models, especially all-electric vehicles.

This report comes in the wake of China’s significant investments in its EV industry. It was revealed that China had invested over $230 billion in the past decade to develop its EV industry, with the Chinese government’s financial backing accounting for nearly 19% of total electric car sales from 2009 to 2023, as per a study by the Center for Strategic and International Studies.

China’s rapid rise in the EV industry has sparked trade tensions with the U.S. and the EU, with both imposing tariffs on Chinese EVs and EV batteries. In response, Chinese Premier Li Qiang defended his country’s EV and lithium-ion battery industries, stating that the real source of China’s strong competitiveness in these industries is its unique comparative advantages.

Additionally, Chinese automakers have reportedly urged Beijing to retaliate against the EU’s tariffs on Chinese-made EVs by increasing tariffs on European gasoline cars. This move, discussed in a closed-door meeting organized by China’s Ministry of Commerce, underscores the escalating trade tensions between China and the West.

 

[ety]

33% share, China will be a world car manufacturing powerhouse no doubt.

 

[Menthol]

I don't think it will reach 30% in 2030.

It will take much longer.

 

[Barcid]

Is MG counted here?

MG india JV is a good way for india to steal chinese EV technology. Sad that Chinese government can’t do jack about it

 

[Beijingwalker]

I don't think it will reach 30% in 2030.

It will take much longer.

See the explosive growth year on year, I believe it could happen before 2030.

 

[Han Patriot]

Is MG counted here?

MG india JV is a good way for india to steal chinese EV technology. Sad that Chinese government can’t do jack about it

uuu , i can feel the acid in this one. MG doesn't even make batteries and what technology is there that is so advanced, it is more about branding and quality control.

 

[Barcid]

uuu , i can feel the acid in this one. MG doesn't even make batteries and what technology is there that is so advanced, it is more about branding and quality control.

Of course Chinese technology is not advanced, yet we will steal it. And Chinese government can’t do anything.

 

[Menthol]

Is MG counted here?

MG india JV is a good way for india to steal chinese EV technology. Sad that Chinese government can’t do jack about it

There's IP protection.

At best, is reverse engineering or inventing a completely new thing.


The meaning of stealing technology is propaganda by USA politicians.

Yes, India should learn as much as possible.

What is the purpose of sending millions of Indian aboard to study in foreign university and to work in foreign companies?

It is to "steal". Lol

India is actually already in the process of stealing... for decades.

So does every country in the world right now.

 

[Barcid]

There's IP protection.

At best, is reverse engineering or inventing a completely new thing.


The meaning of stealing technology is propaganda by USA politicians.

Yes, India should learn as much as possible.

What is the purpose of sending millions of Indian aboard to study in foreign university and to work in foreign companies?

It is to "steal". Lol

India is actually already in the process of stealing... for decades.

So does every country in the world right now.

Are you Chinese?

 

[Menthol]

Are you Chinese?

No.

I'm Indonesian.

Just as my flag.

 

[Barcid]

No.

I'm Indonesian.

Just as my flag.

Then why aren’t you writing more intelligent posts?

 

[Menthol]

Then why aren’t you writing more intelligent posts?

I wonder if you understand the meaning of "stealing" in Western propaganda?

If you understand it, you will understand my meaning above.


USA politicians accuse Chinese for stealing means USA politicians don't want Chinese to learn from USA and bring back that knowledge back to China to develop China.

A Chinese studied programming in USA university, after graduate he returned home and started a software company.

That is the meaning of stealing by USA politicians.

A Chinese should never return home, should not start his own company, but instead to serve one of USA company as a worker.


All countries around the world are sending students to study in USA university.

But only China who is being accused for stealing.

Why? Because of geopolitical rivalry, USA doesn't want China to be advanced and developed.

Today trade war and technological sanctions are actually continuations of "stealing" propaganda in the past.


Intellectual Property can't be stolen because it's protected by international law.

To be protected, people should reveal their idea or design (intellectual property) to the world, so everyone knows that anything like this can't be copied, because it's owned, and if people want to copy (use) it, they must pay the fee.

But any idea that is not being protected by patent can be copied freely.

"A" discovered something, but he doesn't want to publish it to the world, and keep it for himself. But later "B" discovered the same idea and then patented it, that idea can be his. Then "A" gets angry because he thinks "B" is stealing his idea, but "A" can't do anything about it because "A" doesn't protect his idea with patent, and anyone in this world can accidentally discovered something that "A" discovered first. If later other people, "C", "D", and "E" want to use the idea in their products, "B" can put a price and "C", "D", and "E" must pay to "B" to use it.

In another scenario, if "A" discovered the idea and patented it. Despite the idea is so simple and can be easily discovered by anyone else, anyone still needs to pay "A" if they want to use it.

"B" built a machine by himself (self-taught and self-experimented), and one day he discovered a way to make the machine to be more efficient by his own effort (thousands of hours of great effort and great money), but it turns out "A" discovered it first, despite all the effort, "B" needs to pay to "A". Like it or not, "B" needs to spend another hour of effort and money to reverse engineering his own discovery (that turns out has been discovered by "A" first), a different way but has the same functionality, and maybe he discovered something better.

 

[Han Patriot]

Of course Chinese technology is not advanced, yet we will steal it. And Chinese government can’t do anything.

Not sure what you can steal from a car assembly plant. You had Toyotas and Hondas in India for decades, so?

 

[ChineseTiger1986]

Is MG counted here?

MG india JV is a good way for india to steal chinese EV technology. Sad that Chinese government can’t do jack about it

Well, thank you for admit who is the real hard worker, and who is the real thief.

China has been smeared by the western media for over 30 years being a copycat who can only steal & copy other people's work.

Guess now who is the real shameless one.

 

[Barcid]

Well, thank you for admit who is the real hard worker, and who is the real thief.

China has been smeared by the western media for over 30 years being a copycat who can only steal & copy other people's work.

Guess now who is the real shameless one.

Why can’t you comprehend English? Where did I mention anything about hard worker?