China's autos shine amid global slowdown
An AlixPartners report forecast that Chinese brands will account for 30% of the global market by 2030, compared with 21% last year. — China Daily
BEIJING: China continues its good showing in the global automotive export market, with Russia remaining a stable source of demand for the nation amid the global tariff war affecting the industry, according to a report released by consulting firm AlixPartners.
The report noted that China's auto exports soared 23% year-on-year to 6.4 million passenger vehicles in 2024, more than 50% above second-ranked Japan, though it expects growth to moderate to 4% in 2025 as tariffs ripple through the market.
Russia and the Middle East remain key destinations for Chinese-origin goods and together accounted for 35% of exports last year, according to the report, surpassing the combined shipments to Europe and North America for the first time.
It forecast that Chinese brands will account for 30% of the global market by 2030, compared with 21% last year.
The report surveyed hundreds of automotive executives around the world.
China's new energy vehicles saw robust production and sales in the first four months of the year. — China Daily/ANN
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