German car suppliers have lost international market shares in their aspiring Chinese competition in the past ten years.
In 2024, the global market share of the German suppliers was based on calculations by the business consultancy Strategy & to 23 percent, three percentage points less than ten years earlier. Chinese companies, on the other hand, – which did not play a role on the world market 20 years ago – increased their share from 5 to 12 percent in the same period. Strategy & belongs to the international auditing company PWC.
European car manufacturers in reverse gear, suppliers suffer
The suppliers are for the competitiveness of the Auto industry of great importance, since they do not only produce parts, but are significantly involved in innovations and innovations. According to Strategy &, according to Strategy &, the losses of the German manufacturers who are the most important customers are due.
Germany’s car manufacturers have mainly lost ground in China, but the manufacturers there are mostly also obtaining their parts from Chinese suppliers. The global sales of the ten largest car companies stagnated last year, according to the analysis, the car suppliers easily increased from 1.14 to 1.15 trillion. But Chinese companies particularly benefited from this.
Competition faster, cheaper – and in the front in key technologies
According to the consultants, one cause of the development is that Chinese companies develop new products much faster and bring them onto the market than Germans. According to the study, Chinese manufacturers have not only developed a technology lead in key technologies such as battery and software, but also offer their customers significant price advantages.
However, the authors of the study do not see black: they point out that the German auto industry has already overcome a serious crisis in the 1990s. In addition to acceleration of development and production, however, they also recommend a fundamental rethink: no longer as usual to focus on the ever further improvement in existing products, but to open up new technology fields. “The pressure is high,” said Henning Rennert, one of the authors. “But in the past the industry has proven that it can not only cope with crises, but can grow in them.”
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Munich (dpa-Afx)
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