Summary
German luxury car makers like Audi, Porsche, BMW, and Mercedes-Benz are trying to regain market share in China after experiencing sales declines. These companies are launching new and updated vehicles, focusing on advanced technology and efficient engines. China's car market is moving towards electric vehicles but lacks strict emission rules compared to other regions like Europe.
Key Facts
- German car companies Audi, Porsche, BMW, and Mercedes-Benz have seen sales declines in China over the past five years.
- Mercedes-Benz plans to release 40 new or refreshed vehicle models in the next two years to boost their presence in China.
- China is open to various types of powertrains, including hybrid and electric models, without strict emission regulations.
- EY predicts battery-electric vehicles will make up over 50% of China's vehicle sales by 2033.
- Audi plans to introduce 20 new models by the end of 2025 to increase competition.
- BMW's new generation of vehicles, the Neue Klasse, debuted recently and emphasizes engineering over design.
