The following data points highlight the importance of the Chinese automotive industry within the global landscape:
40% of BMW sales worldwide come from the Chinese markets, further emphasizing the importance of the growing Chinese luxury car industry
Over 30% sales of Daimler worldwide come from the Chinese market
Local Chinese brands are catching up with global brands, both in quality and brand share
Global brands are eating into the local market, competing with Chinese brands in tier-2 and tier-3 cities in both the cost and value for money
An upcoming wave of growth is expected from the electric vehicle sector due to increased government subsidies
The local Chinese electric car market is experiencing a growth in double digits and foreign brands have yet to infiltrate this trend
The Chinese government is making massive infrastructure investments so that automakers can penetrate tier 3, 4, and 5 markets by 2030