‘Import surplus’
Europe is well on its way to becoming a huge annual importer of cars built in China. That is what market researcher PwC expects. Partly because of this, Europe would import more cars than exports by 2025.
The new Chinese car brands are popping up like mushrooms and more and more of them are also coming our way. Think of players like Nio and BYD, who seem quite serious, ambitious and promising. Will the Chinese really succeed in becoming a major player in the European car market? It seems so. PwC expects that the number of Chinese-built cars coming to Europe by 2025 will already be 800,000 units on an annual basis, reports car news. According to the researchers, it would even contribute to a different status for Europe in the car industry. Partly because of this, our continent is becoming a bigger importer than an exporter of cars. By 2025, 221,000 more cars would be imported than exported.
Incidentally, the Chinese growth does not only come from Chinese brands. PwC reports that of the 800,000 cars mentioned, about 330,000 were built in China by western brands. PwC states that European brands will increasingly move their production to China, so that we will get ‘Western’ cars on the road here via a Chinese detour. PwC specifically mentions brands such as Tesla, BMW and the Renault Group. According to PwC, China can quickly gain a firm footing in the European pie because it has rapidly acquired expertise in the field of electric cars. The fact that production in China is cheaper than here in Europe undoubtedly also plays a role.
– Thanks for information from Autoweek.nl