China looming: Car industry prepares for influx of new brands

AutoExec Summary
The surge of Chinese brands in the Australian new car market is a key industry focus as it navigates upcoming challenges. Chinese-made vehicle sales surged 57.5% in 2023, constituting 15.9% of new car sales, surpassing South Korean cars. Over 40 Chinese-manufactured models are currently available in Australia, with more electric or hybrid models on the horizon. The influx of Chinese cars is expected to disrupt the industry, especially as it adapts to the New Vehicle Efficiency Standard. Many Chinese brands are anticipated to introduce affordable electric or hybrid models with advanced technology. Not all Chinese brands are likely to endure, and some dealers are cautious about adding new Chinese brands to their lineup. Aion, Jetour, and Changan are also exploring entry into the Australian market, in addition to established OEMs sourcing vehicles from China like Tesla, BMW, Volvo, Lotus, and Polestar.

Brands mentioned: LDV, GWM Haval, BYD, JAC Motors, Xpeng, Leapmotor, Skywell, Zeekr, Jaecoo, Smart, Aion, Jetour, Changan, Tesla, BMW, Volvo, Lotus, Polestar.