Bloomberg Reported That The US Hasn’t Noticed That China-Made Cars Are Taking Over the World; But The Auto Channel Has
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AS SEEN IN NUTSON"S WEEKLY AUTO NEWS WRAP-UP: Joe White writing for Reuters reports steep U.S. government tariffs are keeping most Chinese automakers out of the world’s second-largest market. But vehicles made in China are finding their way to North America, mainly through General Motors’ distribution channels, according to data from S&P Global Mobility. GM plans to add a new Chinese-built model, the Buick Envista compact SUV, to its U.S. lineup later this year. S&P Global’s Joe Langley said production of the Envista for the United States could shift to South Korea to avoid 25% U.S. tariffs. The tariffs have not stopped GM from selling its Buick Envision SUV in the U.S. market. Last year, 36,407 Made -in-China vehicles were imported to the United States, of which 25,871 were Buick Envisions. The rest were imported by Chinese automaker Geely’s Polestar and Volvo brands, according to S&P Global.
NEW YORK - January 26, 2023: Bloomberg reported that China is poised to become the No. 2 exporter of passenger vehicles, surpassing the US and South Korea and risking new tensions with trading partners and rivaOverseas shipments of cars made in China have tripled since 2020 to reach more than 2.5 million last year, according to data from the China Passenger Car Association. That’s only a whisker (about 60,000 units) behind Germany, whose exports have fallen in recent years. China’s numbers, behind Japan but ahead of the US and South Korea, herald the emergence of a formidable rival to the established auto giants.
Chinese brands are now market leaders in the Middle East and Latin America. In Europe, the China-made vehicles sold are mostly electric models from Tesla Inc. and Chinese-owned former European brands such as Volvo and MG, and European brands like Dacia Spring or the BMW iX3, which is produced exclusively in China. A raft of homegrown marques like BYD Co. and Nio Inc. are ascending as well, with ambitions to dominate the world of new-energy vehicles. Backed by Warren Buffett’s Berkshire Hathaway Inc., BYD is already charming EV buyers in developed countries such as Australia.
It’s just the beginning, according to Xu Haidong, deputy chief engineer at the state-backed China Association of Automobile Manufacturers. The target is to sell 8 million passenger vehicles overseas by 2030—more than twice Japan’s current shipments, he says.
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