Chinese auto sales hit record levels last year – both at home and abroad. Automakers like BYD and Geely saw exports grow 400% since the beginning of the decade, making major inroads in markets like Europe and Latin America. For now, only a handful of Chinese vehicles are sold in the U.S., the Biden administration quadrupling tariffs last year. But a new study shows many American buyers eagerly hoping to see the market open up, with younger motorists particularly interested in Chinese vehicles.
Chinese automotive exports hit an all-time record last year – even while being effectively locked out of the U.S. market. But despite incoming Pres. Donald Trump’s threat to put still more tariffs on Chinese-made vehicles, the doors may not be locked forever. And anyone who checked out the new Zeekr brand’s news conference and display at the Consumer Electronics Show is likely to understand why that worries other manufacturers.
After several weak years triggered by the COVID pandemic, Chinese auto sales surged to a new record nearly twice that of the U.S. market. And strong demand for EVs and hybrids played a critical role, according to industry data. Meanwhile, Chinese auto exports also surged to record levels. More from Headlight.News.
Oh, what a year it was. 2024 took saw a number of predictable stories top our coverage on Headlight.News, but the year also saw some surprising twists and turns — like the planned merger between Honda and Nissan – that no one likely would, or could, have predicted 12 months ago. There was some good news for consumers, and some bad. Some automakers made out like bandits, while others are now struggling with an uncertain future. Here are the 2024 stories that our editorial team found most compelling.
With its EV sales in Europe and the U.S. slowing, Tesla has become more dependent on sales in China. But the competition is fierce, and trade tensions could hamper Elon Musk’s ambitious future. Musk’s central role in the incoming Trump administration further complicates matters.
Chinese automakers are rapidly expanding exports to key regions like Europe and Latin America after long focusing on their home market. But that’s created problems as target markets fight back with new tariffs and other trade restrictions. As a result, some Chinese manufacturers are looking to shift production abroad – and that could include factories in the U.S.
Polestar announces that it has begun U.S. production of Polestar 3 as the brand attempts to avoid tightened U.S. tariffs and reduce its dependency on Chinese facilities for vehicle production.
Your next new car is likely to be loaded with all sorts of digital technology – and the software to run it. And that means it may know “a lot about you.” And how that information is used has raised growing privacy concerns. That’s why the U.S. Commerce Dept. may impose restrictions on the use of software coming from China.
Polestar reports increased losses for the 2023 fiscal year as the company faces renewed questions about its long-term future amid struggles with cash burn and slumping EV demand.
Volvo has “delayed” the U.S. launch of the EX30 battery-electric vehicle due to new tariffs on Chinese-made EVs announced in May by the Biden administration. That delay appears likely to last until at least sometime in 2025 when the automaker plans to begin production of the EX30 at a second plant in Ghent, Belgium.
The auto industry is in the midst of the most unsettling shake-up its seen in more than a century and that’s likely force radical change in not only what products manufacturers bring to market but how and where they sell them. For one thing, Detroit automakers should consider pulling out of China, said Bank of America analyst John Murphy as part of his annual “Car Wars” study.
President Joe Biden raised tariffs on an assortment of Chinese-made goods, including the battery-electric vehicles manufacturers like BYD, Geely and Great Wall have been hoping to start selling in the U.S. The threat of these inexpensive EVs – some starting at barely $10,000 – has sent shivers through the American auto industry, one trade group warning their arrival poses an “extinction-level event.” Headlight.News explains why.