Inovev forecasts that Chinese carmakers will represent 75% of the Chinese market in 2030
- The sales growth of Chinese cars (Chinese brands and other brands under Chinese control) on the Chinese market compared to foreign branded cars has been steadily increasing month by month for several years.
- While the share of Chinese cars in this market did not exceed 43% between 2015 and 2020,It rose to 45% in 2021, 51% in 2022, 57% in 2023, then 60% in March 2024, 62% in May, 63% in July, 64% in September, 65% in October, 66% in December, 69% in January 2025 and 70% in October 2025.
- The market share growth of Chinese car brands seems unstoppable. The offerings from these brands continue to expand and largely surpass foreign offerings in terms of technology, design, and price, which was not the case even a decade ago. Under these conditions, the market share of foreign carmakers in China is shrinking rapidly, and it seems increasingly unlikely that their efforts to remain in, or even re-enter, this market will be successful. There is clearly a growing preference among Chinese consumers for Chinese-made cars.
- This is why Inovev does not believe in a reversal of the trend in this market over the next five years. Instead, Inovev believes in a consolidation of the market share of Chinese carmakers in China, which could reach 71% in 2026, 72% in 2027, 73% in 2028, 74% in 2029, and 75% in 2030.