Chinese brands to reach a third of global new car sales by 2030 – report

AutoExec Summary
By 2030, Chinese brands are projected to account for over 30 percent of new car sales globally, with a significant increase in market share in foreign markets. The growth is attributed to factors such as a focus on design and technology, cost advantage, and advancements in NEV technologies. The rise of Chinese brands is expected to coincide with the transition towards electrified vehicles, with EVs predicted to surpass internal combustion engine vehicle sales. Several Chinese brands are set to enter the Australian market, causing concern for legacy manufacturers.

Brands mentioned: Zeekr, Xpeng, Jaecoo, Leapmotor, GAC, Aion, Hyundai