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China's automobiles are rapidly "going overseas"! Institutional forecast: by 2030 will account for 33% of the global market share

Recently, the world's leading consulting firm AlixPartners released a new report showing that Chinese branded automakers are expected to continue their rapid expansion overseas, accounting for 33% of the global auto market by 2030.

Chinese-brand automakers to accelerate "going overseas"

AlixPartners expects Chinese branded cars to grow in all global markets, with particularly rapid growth outside of China.

This year, the global market share of Chinese branded cars is expected to be 21%, of which only 3% is outside China.

But AlixPartners expects sales of Chinese-branded cars outside China to grow to 9 million units by 2030, up from 3 million this year, meaning that by the end of 2030, its market share outside China will grow from 3% to 13%.

The growth of Chinese branded cars in Russia is the most impressive: AlixPartners estimates that by 2030, the market share of Chinese branded cars in Russia will double from the current 33%, soaring to 69%.

However, market share growth is expected to be weaker in Japan, Korea and North America. This is partly due to the fact that the U.S. government has announced that it will impose a 100 percent tariff on imported Chinese electric cars, claims AlixPartners.

Currently in North America, Chinese branded cars are expected to account for only 3% of the market, and mainly in Mexico. However, it is expected that by 2030, Chinese branded cars could reach a 20% market share in Mexico.

In most other major regions of the world, the market share of Chinese-branded vehicles is expected to grow exponentially, AlixPartners reports. These regions include Central and South America, Southeast Asia, the Middle East and Africa.

Meanwhile, in Europe, Chinese brands are also "on the offensive": according to ArrowPlatts, their market share in Europe is expected to double from the current 6% to 12% by 2030.

According to AlixPartners, the market share of Chinese branded cars in China is also expected to grow from 59% to 72% by 2030. Traditional automakers such as General Motors have been losing ground in China in recent years, and a large portion of the country's auto market share has been taken up by local brands such as BYD, Geely and Azera.

"China is the new disruptor in the auto industry."

According to AlixPartners, the strengths of Chinese branded carmakers lie not only in cost advantages and localized production strategies, but also in a more advanced level of technology that can satisfy evolving consumer preferences for automotive design and freshness.

Mark Wakefield, global co-head of AlixPartners's automotive and industrial practice, said in a statement:

"China is the new disruptor in the automotive industry - capable of creating essential cars that are faster to market, cheaper, technologically and design-advanced, and more efficiently manufactured."

They point out that Chinese branded cars create new products in 20 months, half the time of traditional automakers (40 months). Moreover, Chinese-branded cars have a 35% "Made in China" cost advantage.

Wakefield said that for traditional automakers to compete with Chinese automakers, it is no longer enough to just "eat the old book"; they need to rethink their overall business development process and increase the speed of vehicle development.

Andrew Bergbaum, the other global co-head of AlixPartners's automotive and industrial practice, said that the company's automotive development process needs to be rethought and the pace of vehicle development increased.

In a statement, Bergbaum said, "Automakers that wish to continue operating on the stale principles of the past are only now waking up and are on their way out."

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