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Chinese automakers expected to achieve 33% global market share by 2030

·1 min

Chinese automakers are projected to expand significantly outside of China and capture around 33% of the global automotive market by 2030, according to a consulting firm. The growth is expected to come mostly from international markets, with sales outside of China growing from 3 million to 9 million by 2030. The expansion of Chinese automakers is a concern for legacy automakers and policymakers globally, who worry about the competitive pricing and advanced technology of China-made vehicles. The report suggests that Chinese automakers will have smaller expansion in Japan and North America due to stricter safety standards and tariffs.