Shulou(Shulou.com)11/24 Report--

CTOnews.com, July 5 (Xinhua)-- Chinese brands will account for more than 50% of car sales in the domestic market this year because of the growing dominance of electric vehicles, the consultancy AlixPartners said today. This will be the first time that a Chinese carmaker has controlled a majority of the world's largest car market.

For the past four decades, Tuyuan Pixabay has been dominated by overseas brands such as Volkswagen and Toyota in joint ventures with Chinese partners. But competitive prices, the faster launch of new models and the rise of domestic electric carmakers such as BYD, Xilai and Xiaopeng have changed the status quo in China's car market.

In the first quarter of this year, China overtook Japan to become the world's largest car exporter. AlixPartners predicts that overall car sales in China will grow by 3 per cent this year to 24.9 million units, returning to pre-epidemic levels. The company also expects the number of cars in China to grow to 30.6 million by 2030, when more than half of the cars sold in China will be electric vehicles.

AlixPartners also said that between 2016 and 2022, China's "new energy vehicle" market, including plug-in hybrids and pure electric vehicles, received government subsidies equivalent to $57 billion (CTOnews.com Note: currently about 411.54 billion yuan), compared with $12 billion (currently about 86.64 billion yuan) in the United States.

In addition to the subsidies, Chinese electric car manufacturers have also achieved great success through the input of functions such as advanced auxiliary driving systems and the control of production costs. Stephen Dyer, head of Asian automotive consulting at AlixPartners, says this competitiveness will enable Chinese carmakers to have the same subversive impact on established global carmakers as Tesla does in the coming years.

Dell also predicts that annual sales of Chinese-branded cars in overseas markets will grow to 9 million by 2030, bringing the global share of Chinese brands to 30 per cent, including 15 per cent in Europe, 19 per cent in South America and 19 per cent in Southeast Asia and South Asia. At the same time, China's 167 new energy vehicle brands will also usher in a wave of integration, and only 25 to 30 brands may survive by 2030.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.