On July 5, SAIC released a news release saying that in order to effectively safeguard its legitimate rights and interests and the interests of global customers, it will formally request the European Commission to hold a hearing on China’s temporary countervailing duty measures on electric vehicles, and further exercise its right of defense in accordance with the law. On June 12, the EU announced plans to impose temporary tariffs on Chinese electric vehicles and issued a preliminary ruling information pre-disclosure, in which the subsidy rate of SAIC was calculated to be 38.1%. on July 4, the European Commission formally announced […]
Gothenburg, Sweden, July 6, 2024 – Volvo Cars has announced a notable 8% year-on-year increase in global sales for the month of June, underscoring the company’s resilience and market appeal amidst ongoing industry challenges. The latest sales figures reveal Volvo’s continued momentum in key markets worldwide, bolstered by strong consumer demand for its diverse range of vehicles. This growth represents a significant achievement for Volvo as it navigates through a dynamic automotive landscape marked by technological advancements and shifting consumer preferences. Commenting on the positive sales trend, Volvo Cars CEO Anna Persson highlighted, “We are pleased to see our global sales continue to grow, reflecting the strong performance […]
VinFast, the Vietnamese automaker renowned for its innovative approach to electric vehicles (EVs), is contemplating a strategic move into the Indian market with plans to manufacture electric cars. This expansion initiative aims to capitalize on India’s burgeoning demand for sustainable mobility solutions and marks a significant step in VinFast’s global expansion strategy. With India emerging as a pivotal market for electric vehicles due to increasing environmental awareness and government incentives, VinFast’s potential entry promises to introduce advanced automotive technology and enhance competition in the sector. The move aligns with VinFast’s commitment to revolutionizing urban mobility through cutting-edge EV designs and sustainable manufacturing practices. VinFast’s consideration of establishing a […]
In a landmark projection, industry analysts foresee Chinese automakers seizing a commanding 33% share of the global automotive market by the year 2030. This ambitious growth target underscores China’s rapid ascent as a powerhouse in the automotive industry, driven by technological innovation, robust domestic demand, and strategic global expansions. With China already standing as the world’s largest automotive market, surpassing traditional leaders such as the United States and Europe, its automakers are poised to further capitalize on this momentum. The projected increase in market share reflects a concerted effort by Chinese companies to enhance product quality, expand electric and autonomous vehicle offerings, and strengthen their global footprint through partnerships and […]
According to industry analysts, the Russian car market is poised for significant growth in 2024, with projected new car sales reaching up to 1.45 million units for the year. This expectation reflects optimism in the market driven by economic recovery and increased consumer confidence. As global supply chain issues gradually ease, Russian car manufacturers and importers are gearing up to ramp up production and supply to meet demand across various vehicle segments. These measures are expected to intensify market competition and offer consumers a wider range of choices. The growth of the Russian car market is bolstered not only by domestic demand but also by supportive government […]
A new report released by the consulting company ALIXPARTNERS recently shows that it is expected that Chinese auto manufacturers will continue to expand rapidly in overseas markets, and will account for 33%of the global automotive market by 2030. In contrast, the share of Chinese car companies in the global automotive market this year is expected to be 21%. The growth of most market share will come from markets outside China. It is expected that by 2030, the sales of Chinese car companies in overseas regions will increase from 3 million this year to 9 […]