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Insight & Opinion

The Rise of Chinese OEMs: Challenges and Opportunities for International Automakers

China City ShanghaiChina City Shanghai
May 24,2023
Over the past three years, international legacy OEMs have witnessed a gradual decline in their market share within China’s automotive industry. From a staggering 67% in 2020, their dominance has dwindled to a mere 43% in the first quarter of 2023. Ahead of Tesla, BYD and other Chinese EV startups have achieved the largest market share by emphasizing competitive electrified models. Meanwhile, well-established Chinese automakers have successfully sustained a market share of approximately 36-39% over the past three years.   China’s automotive landscape is no longer a fertile ground for easy profits. In order to secure their market share, OEMs are engaged in a fierce battle, marked by the introduction of record-breaking numbers of new models in 2022/23 and a recent “price war.”

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