Chinese carmakers set to drive further worldwide
Print Edition
Chinese carmakers are set to increase its presence on the global stage with a bigger market share, according to findings from a global automotive executive survey published by KPMG yesterday.
The survey also highlighted that new power train systems, connectivity and digitalization — identified as industry disrupters — will be the key trends until 2025 in China and globally.
The survey, covering 800 automotive executives including 100 from China, is an indicator of the confidence level within the industry.
Over the next five years, five of the 20 carmakers expected to raise their market shares globally are Chinese. One sixth of the global automotive executives surveyed said they will increase investment in production in China, followed by Germany with 16 percent and India with 9 percent.
Huu-Hoi Tran, partner and head of automotive at KPMG China, described the future for carmakers as “wide open” in China where car ownership is seen as an important status of symbol despite alternative mobility options to cut traffic jams.
The survey also found that the focus is shifting to the increasing demand for electric vehicles and the role of the Internet in enhancing people’s mobility experience.
The so-called industry disrupters are expected to play a bigger role because the industry’s confidence in them has surged from 12 percent last year to 80 percent this year globally.
China has seen an even sharper jump from 20 percent to 95 percent as the country just overtook the US as the biggest new-energy market by sales.
“China’s industry and structures are young and more flexible compared to mature markets. Chinese executives are not bound in ‘old’ structures and believe in change” that will have a greater impact on all segments, said Tran.
Also yesterday, Qoros, an indigenous brand co-owned by Chinese carmaker Chery and Israel Corp, announced the establishment of two new business units focusing on new-energy cars and mobility services respectively.
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