A ship at the German port of Bremerhaven with its cargo of BYD vehicles. The market power of Chinese cars in Europe is growing. (picture alliance/dpa)
According to a new study, the German car industry's traditional export surplus in China could be overturned as early as this year. This year, 440,000 vehicles from Chinese manufacturers could already be imported to Europe, the automotive experts at auditing firm PwC and its in-house consultancy Strategy& estimate in a publication. The number of cars from European manufacturers exported to China, on the other hand, could fall to 325,000 vehicles - the majority of which are vehicles from the German industry: 295,000.
Last year, the ratio was still reversed: Europe's car industry delivered 350,000 vehicles - including 320,000 German vehicles - to China, compared to 280,000 cars of Chinese brands imported to Europe.
The authors doubt that EU punitive tariffs on Chinese electric cars will benefit European manufacturers in the long term. Tariffs could give European car manufacturers a short-term advantage over Chinese competitors, said Felix Kuhnert, head of the automotive sector at PwC Germany. “However, Chinese manufacturers have shown a high level of adaptability and agility in the past and will use the tariffs as an opportunity to increase their production capacities in Europe or look for partners for contract manufacturing and come up with even more competitive products.”
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