Chinese automakers are poised to capture 33% of the global automotive market by 2030, a significant increase from their forecasted 21% market share this year, according to a recent report by AlixPartners, a financial advisory and global consulting firm. This growth will predominantly occur outside China, with sales expected to rise from 3 million this year to 9 million by the end of the decade, increasing their global market share from 3% to 13%.
The rapid expansion of Chinese automakers presents a challenge to legacy automakers and has raised concerns among global politicians. The fear is that more affordable, China-made vehicles will inundate markets, particularly impacting the all-electric vehicle sector.
AlixPartners predicts Chinese brands will expand across all global markets but at a slower pace in Japan and North America. In North America, the stringent vehicle safety standards and a 100% tariff on imported Chinese EVs are expected to limit their market share to 3%, primarily in Mexico, where Chinese brands could represent 20% of vehicles by 2030. In contrast, substantial growth is anticipated in Central and South America, Southeast Asia, and the Middle East and Africa.
