CEMS European Car Market Development Analysis In Czech Forbes

The European EV market is changing dynamically, influenced by the growing dominance of Chinese electric car manufacturers and the American Tesla, which benefits significantly from their production in China. A recent analysis from the hands of the CEMS VSE programme examined how European carmakers can succeed against the competition. The study throws light under the hood of trends in the car market development, and the findings made it to an article in Forbes Czechia.

“European carmakers should focus on communicating with customers, maintaining high quality of their cars and systems,
and improving their sales and service network. These are areas where the competition should not outperform them,” says
Natalie Badie, CEMS Alumna, Assistant Professor at FBA and Strategy Consultant, who led the team of analysts.

In 2022, Chinese electric car makers sold almost twice as many vehicles as European and US competitors combined. And if the market keeps developing as it has until now, European manufacturers could lose up to seven billion euros a year in revenue by 2030, predicts the analysis.

China’s strong market presence, especially in EU EV imports, will continue to gain strength. For European carmakers, the key will be to maintain high quality, communicate with customers and expand sales and service networks to maintain a competitive position in the global market.

This will undoubtedly be an exciting race to watch…

>>> For a more detailed read, do not hesitate and go to the article While Europe treads water, Chinese carmakers and Tesla gain momentum and rule the world on Czech Forbes (please note it is in Czech) to be found HERE.