German Carmakers Are Placing a Risky Bet on China

Quick Summary:

Volkswagen, BMW, and Mercedes-Benz have announced further investments in a market that has changed rapidly to their disadvantage.

China’s rapid shift to NEVs and the dominance of Chinese manufacturers explain why German carmakers now face an uphill battle in this market.

Their share of China’s car market shot up from just 5.4 percent in 2020 to 32 percent in 2023 and hit 39 percent of cars sold from January to September 2024 – and domestic carmakers are meeting most of this demand.

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Article Details

Author / Journalist: Alexander Brown and Andreas Mischer

Category: Economy

Markets: United StatesBangladeshChinaGermanyIndiaJapanNorth KoreaSouth KoreaKyrgyzstanMozambiqueMyanmarPakistanUzbekistan

Topics: Market Foreign Companies Chinese China’s China Carmakers 2024 Cars Percent German

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-09 @ 23:00:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2702 words

Reading Time: 16 minutes read

Sentences: 124 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 24284315

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