Demedia said that the world's largest car sales market is weakening, but Volkswagen, Daimler and BMW can even slightly expand their market share in China. According to a report on the German news TV channel website on February 10, in the past year, German automakers have resisted the downward trend in the Chinese market. According to the analysis of Ernst & Young, a corporate consulting firm, Volkswagen, BMW and Daimler sold about 5.5 million vehicles in China in 2018. The report pointed out that in the past 20 years, the Chinese auto market has shrunk by 4% for the first time. However, German automakers can grow by 2% in this market, which accounts for about 24% of the market. However, the dependence of the Germans on the Chinese market has also increased. More than one-third of the cars sold by Volkswagen, BMW and Daimler in 2018 were bought by the Chinese. According to the report, Volkswagen has the highest dependence on the Chinese market: the largest automaker in Europe sold 4.2 million vehicles in China, accounting for about 40% of its total production. The group alone accounted for 18.1% of the market. It is still difficult for the public to decide what to do next. Peter Fuss, a partner at Ernst & Young, said: "It is not entirely clear whether the sales market will continue to decline or will resume." This depends to a large extent on the trade war between the United States and China. The report said that Fuss estimated that the Chinese government will prevent long-term weakness. He said: "The Chinese government has intervened in the earlier period of weakness and promoted the development of the new automobile market through measures such as tax incentives." He saw signs of re-implementation of stimulus measures, and the automotive market will also benefit. Fuss said that although the era of unrestricted growth has passed, China's car ownership rate is still far from the German standard. In China, there are an average of 14.5 cars per 100 inhabitants; in Germany, the figure is 56.1. Demand will continue. SKF deep groove ball bearings,SKF bearing seat,SKF spherical roller bearings,SKF joint bearing,SKF thrust roller bearings Shanghai Yi Kai Cheng bearing Co., LTD , https://www.ykcbearing.com
German car market share in China rises
According to the German media, the world's largest car sales market is weakening, but Volkswagen, Daimler and BMW can even slightly expand their market share in China. According to a report on the German news TV channel website on February 10, in the past year, German automakers have resisted the Chinese market...