European Automotive Industry in the Century of Asia

Table 1.2: Relevance of the individual regions for the selected car companies (share of sales) Asia (%) Americas (%) Europe (%) Volkswagen 43.0 1 16.0 41.0 BMW 38.3 23.6 36.1 Mercedes-Benz 2 39.0 23.0 33.0 Renault 15.0 3 20.0 4 59.0 Stellantis 3.5 45.0 45.0 Volvo 14.0 39.0 41.0 Source: Annual reports of the companies 1.1.5 China: Global Leader in Production China, the world’s longest-standing leading motor vehicle producer, experienced its first year-on-year decline in production in 2018. Factors responsible for the decline included the deteriorating political climate, the general economic slowdown, and then, towards the end of 2019, the global outbreak of the COVID-19 pandemic. Year-on year production continued to decline until 2020, with a return to growth in 2021. In 2022, China’s motor vehicle production grew again, with total production increasing by 3.4%. Passenger car production in China increased by 11% year-on-year.

Passenger cars accounted for 88% of the total production. Fig. 1.6: Motor vehicle production in China (million units)

Source: OICA

North America

1

Asia-Pacific and Eurasia

2

Latin America

3

11