Reported 12 months ago
A recent report titled 'Global Automotive Outlook 2024' by US consulting firm AlixPartners predicts that by 2030, Chinese car brands will hold 33% of the global market, posing a significant challenge to traditional car manufacturers. The rise of Chinese brands is attributed to cost advantages, localized production strategies, advanced technology, and consumer-oriented sales models. The report also foresees a shift to electric vehicles, with new energy vehicles expected to make up nearly half of global sales by 2030. These trends are redefining the automotive industry landscape, with implications for traditional OEMs and suppliers worldwide.
Source: YAHOO