Key highlights from the growing Chinese automotive market

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