STUDY: ONE THIRD OF GLOBAL CAR MARKET WILL BE CHINESE BY 2030

MUNICH, July 2 (Bernama-dpa) -- Chinese car brands will have conquered a third of the global market by 2030, and will by that time, be selling 9 million vehicles per year outside China, according to the management consultancy Alix Partners, reported the German news agency (dpa).

In Europe, this will be at the expense of European, Japanese, and Korean brands, the industry experts wrote in a study published on Tuesday.

The manufacturing costs for an e-car are a third lower in China than in Europe, and the development cycles are shorter than those of the global competition. Chinese car manufacturers are expanding their market share with "aggressive pricing", the study said.

"New EU tariffs on Chinese cars may slow down imports in the short-term and support sales prices, but they will also accelerate the local production of Chinese vehicles and components in Europe," said industry expert Fabian Piontek. 

German manufacturers are also feeling the competition from Chinese manufacturers in China: "This particularly affects German premium manufacturers, who are increasingly losing an important market in China."

Many manufacturers have focused on e-cars in recent years, but demand is slowing down. According to Alix, the market share of new e-vehicles in Europe is likely to rise from 20 per cent this year to 45 per cent in 2030. 

-- BERNAMA-dpa