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.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Alexander Brown and Andreas Mischer

Category: Economy

Markets: United StatesBangladeshChinaGermanyIndiaJapanNorth KoreaMyanmarPakistanTaiwanThailandUzbekistan

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

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-09 @ 23:00:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2656 words

Reading Time: 15 minutes read

Sentences: 123 lines

Sentence Length: 22 words per sentence (average)

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

Copyright Owner: © The Diplomat

News ID: 24381649

View Article Analysis

About The Diplomat

Main Topics: Economy

Official Website: thediplomat.com

Update Frequency: 3 posts per day

Year Established: 2001

Headquarters: United States

News Last Updated: 16 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #70

Publisher Details

Frequently Asked Questions