The share of Chinese cars in the global car market will reach 33% by 2030. Such forecasts were made by experts of the analytical agency AlixPartners as a result of a study.
It is reported that the market share will start to grow rapidly from 21% at the end of this year, with most of the growth coming from outside China. Analysts predict that by 2030, the number of cars from China in the global market will increase by at least 10 percent.
The PRC will control 12 percent of the European and 72 percent of the domestic markets by the end of this decade. This will be possible due to faster development times for new models and lower production costs for car production.
As a result, by 2030, one-third of the cars sold in the world will be Chinese-made. This forecast comes as a shock to auto industry experts who analyze the growth of China's economy. At the same time, it is expected that part of the growth of the Chinese car industry will happen thanks to Western brands, and the share of local brands will increase from 59% to 72%.
Experts worry that most of China's additional sales will be made in other countries. AlixPartners analysts predict that the number of Chinese cars sold outside the country will increase from 3 million this year to 9 million by 2030.