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Volkswagen:Competition From China EVs: Difference between revisions
Volkswagen:Competition From China EVs (view source)
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== | == Introduction And Background == | ||
=== Chinese Market === | |||
* There are over 200 EV makers in China struggling with a huge oversupply. According to China Association of Automobile Manufacturers(CAAM), total passenger car sales in 2024 will be around 26.8 million but already sales forecasts by major automakers have reached 30 million. That means automakers need to speed up sales and even work on exports to avoid cash flow problems<ref>https://edition.cnn.com/2024/04/24/business/china-ev-industry-competition-analysis-intl-hnk/index.html#:~:text=BYD%2C%20for%20example%2C%20is%20now,survive%20the%20fiercely%2Dcompetitive%20environment.</ref>. | * There are over 200 EV makers in China struggling with a huge oversupply. According to China Association of Automobile Manufacturers(CAAM), total passenger car sales in 2024 will be around 26.8 million but already sales forecasts by major automakers have reached 30 million. That means automakers need to speed up sales and even work on exports to avoid cash flow problems<ref>https://edition.cnn.com/2024/04/24/business/china-ev-industry-competition-analysis-intl-hnk/index.html#:~:text=BYD%2C%20for%20example%2C%20is%20now,survive%20the%20fiercely%2Dcompetitive%20environment.</ref>. | ||
=== European Market === | |||
* Europe is currently facing a decline in demand and rising competition from Chinese EVs. Volkswagen CFO Arno Antlitz recently estimated that vehicle sales in Europe will decline by 2 million every year compared to the pre-pandemic period<ref>https://www.cnbc.com/2024/09/04/volkswagen-to-face-tense-townhall-as-workers-battle-possible-plant-closures.html</ref>. | |||
== Projected Market Share of Chinese Automakers == | == Projected Market Share of Chinese Automakers == | ||