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Large and serious car manufacturers such as Volkswagen and Toyota are experiencing difficulties due to the fierce competition in China. Their share is gradually being conquered by local
It seems that major foreign brands are “sleeping through” the changes that have taken place in China in recent years. Their market share started to decline in 2020 and in the fourth quarter of 2022 it collapsed from 61% to 41%. Among the Japanese manufacturers, Nissan and Honda fell heavily, with only Toyota more or less holding up so far.
And furthermore, events will apparently develop in the same way, as shown by the statistics for the first quarter of this year. The share of manufacturers from the Land of the Rising Sun fell by 39%, and the “Germans” – by 21%. At the same time, for example, the local manufacturer of hybrids and electric cars BYD showed a growth of 70 percent and sold 300,000 cars.
According to the portal “Chinese cars”, displacing global brands from the Chinese market is one of the long-term goals of the local government. The massive creation of joint ventures for the production of cars and trucks with German and Japanese companies led to technology leaks, from which the Chinese took advantage.
It seems that major foreign brands are “sleeping through” the changes that have taken place in China in recent years. Their market share started to decline in 2020 and in the fourth quarter of 2022 it collapsed from 61% to 41%. Among the Japanese manufacturers, Nissan and Honda fell heavily, with only Toyota more or less holding up so far.
And furthermore, events will apparently develop in the same way, as shown by the statistics for the first quarter of this year. The share of manufacturers from the Land of the Rising Sun fell by 39%, and the “Germans” – by 21%. At the same time, for example, the local manufacturer of hybrids and electric cars BYD showed a growth of 70 percent and sold 300,000 cars.
According to the portal “Chinese cars”, displacing global brands from the Chinese market is one of the long-term goals of the local government. The massive creation of joint ventures for the production of cars and trucks with German and Japanese companies led to technology leaks, from which the Chinese took advantage.
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
