Cui Dongshu: China accounted for 36% of the world's cars in August, and the development of electrification has led to the rapid decline of European car companies.
According to CTOnews.com news on October 9, Cui Dongshu, secretary-general of FIFA, said that Chinese car companies accounted for 36% of the world's car share in August, compared with 32% from January to August this year.
It is said that global car sales reached 7.21 million in August, up 10% from a year earlier, slightly lower than the monthly peak in August 2018 and the second-highest level in history.
He pointed out that due to the improvement in the supply of chips, the operation of the world automobile industry has improved significantly, leading to an improvement in the sales of international car companies. CTOnews.com notes that world car sales reached 56.9 million units from January to August 2023, up 10 per cent from a year earlier.
Cui Dongshu mentioned that from a worldwide point of view, China's auto market recovered slowly in August, accounting for 36% of the world's auto market, with Chinese auto companies such as BYD and SAIC having the most remarkable rebound. Asian groups represented by Toyota and Suzuki Kia have improved.
He believes that the international chip shortage in the past two years has had little impact on China's auto market, but has promoted the strong performance of China's automobile exports, grabbed the huge gap between supply and demand in the international market, and obtained rare opportunities for development. As a high-monopoly industry such as automotive chips, the supply-side tightening will bring great opportunities to the rise of China's supply chain, and the development of electrification has also led to the rapid decline of European car companies.
