The Success from China’s Auto Market
While I was reading, “The Success from China’s Auto Market” by Sarah Wu, it talks about how Chinese electric vehicles (EV) had a successful showing at the start of the country’s annual parliamentary meeting. Before this day a little less than 30 years ago when Yin Tongyue started Chery Automobile it was heavily dominated by foreign companies. Three decades later China became the largest auto market. Yin wanted their brands to be known around the world. In the article an report states, “China accounted for over 60 percent of global electric vehicle output and sales.” During the showing China continued supporting the EV sector, but the government then gave a tax exemption for the new purchase. The new car has sparked some concerns from other countries; Europe and the United States, which caused China’s home market to weaken. The United States and Europe tried to see if the car was as valuable as it said to be. The Larger Chinese companies slowly started to distance themselves from the meetings to focus more on electric vehicles.
“China’s EV take spotlight at political meeting as priorities shift”
China is rapidly increasing in their auto market, so they are highly wanted to be part of other countries. Countries are trying to get some of China’s new products that would be popular in their country. With China creating this new electric car it’s a high want to other countries because they don’t have things like this. China’s market is rising, which then is being heard across the world. This is helping China have more international relationships, leading to China being a dominated industry in foreign companies. Businesses from other countries are wanting to join China’s auto market, to be a part of the largest auto exporter.
Throughout the article I realized that this new electric vehicle is a desire for other countries to have. Giving China callings from other countries to join in their market, has opened them to new ideas. The U.S. and many other countries have been a key for Chinese automakers to be in more demand, but then causes their own country to fluctuate. This then affected China’s home market to weaken. When the EV was created this helped bring the market back higher, and was successful during the political meeting.
Clara Hanson
March 14, 2024
Loved reading your article! Technology is constantly evolving and its amazing to see what happens next! Something I found particularly interesting was how both Europe and the United States caused China’s market to be weaker. Great job!
Thank you for this interesting read! I know that China has one of the biggest markets and is a big competitor of the US and other countries. I think it’s really cool that they are taking steps to produce EVs as it’s more environmentally friendly.
This was very interesting to read and I was surprised to find out that China is the largest auto-market. It is going to be super interesting to see how China’s electric vehicles do in other countries.
I really liked your article and how you explained it! I find it really interesting that our vehicles are developing quickly and are improving as time progresses. I also had no clue that China is the largest automobile market, which I find really impressive.
Your article is very interesting! I am interested to see how China’s EVs will do in the market compared to the United States. I also did not know that China is the largest automobile market!
Thanks for covering a really important economic trend happening in China. It seems like China is starting to develop “high-end” domestic technology to export throughout the world instead of the typically “low-end” products that are associated with China. On another note, I don’t particularly understand why China’s market is weaker? Is it because of America/Europe’s influence on China, the large foreign market that Chinese automakers can tap into, or something else?