According to Ernst & Young's latest survey report, the importance of the Chinese market for German cars is growing rapidly. It is expected that China will surpass Western Europe in 2015 as the largest consumer market for German cars. Vacuum Forming Machine,Foam Dish Machine,Foam Food Plate Machine,Foam Food Tray Machine haiyuanmachinery , https://www.lkfoamfoodboxmachine.com
According to the report, in the second quarter of 2014, German car sales reached a new high, up 6% year-on-year, higher than Japan (5%), France (4%) and the United States (1%) and the industry average growth rate (2%). The strong growth of German car sales is largely due to the Chinese market, where sales in China increased by 19% year-on-year in the first half of 2014. From 2009 to 2013, the annual sales of German cars in China increased from 1.6 million to 3.7 million, more than doubling, currently accounting for 23% of the Chinese automotive market.
The report pointed out that German cars have experienced the best year, but there are more and more indications that expanding their business in China will face more and more challenges. Recently, Chinese regulators have accused a number of foreign auto brands of monopolizing and manipulating spare parts prices, and have issued huge anti-monopoly penalties, forcing foreign brands to cut prices.
The report believes that other risk factors facing German autos include: uncertain global economic growth prospects, geopolitical conflicts (including Russia), and signs of stagnation in the euro zone economy. Long-term challenges include a decline in market share in the US and overcapacity in the European auto industry. The value of the euro is strong, and the investment in technological innovation is huge.