Chinese carmakers could capture 15% to 30% of European market by 2035: Citi analysts

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Analysts at Citi estimate that Chinese carmakers could capture between 15% and 30% of the European automotive market by 2035, up from about 10% currently. This projection depends on the extent of tariff tightening and EU rules on Chinese electric and hybrid vehicles.

Chinese carmakers could capture between 15 and 30 per cent of the European automotive market by 2035, up from roughly 10 per cent this year, analysts at Citi said, with the outcome resting on how far Brussels goes in tightening tariffs and made-in-EU rules. Current European Union rules would allow Chinese carmakers to reach 30 per cent by 2035 – Citi’s base scenario – while extending existing tariffs on Chinese electric vehicles to plug-in hybrids would cap the market share at 25 per cent, Citi...