Global carmakers' China market share slips below 30% as EV shift accelerates

International auto brands, including Volkswagen and Toyota, saw their combined market share in mainland China fall below 30% in Q3, down from over 50% a decade ago, as domestic EV makers gain ground. The decline is driven by consumer preference for cheaper local EVs amid an economic slowdown and the Iran war's impact on demand. This marks a structural shift in the world's largest auto market, forcing global carmakers to rethink their China strategy.

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