KPMG Report: Chinese firms could dominate global auto market by 2035

The 26th KPMG Global Automotive Executive Survey (GAES) reveals a significant shift in the industry's projected landscape. Among 775 automotive executives surveyed across Europe, Asia-Pacific, and the Americas, 48% believe that by 2035, six of the world's top ten automakers by revenue or sales will be headquartered in China. Only 24% of respondents consider this outcome unlikely.

This prediction is driven by China's advancements in electrification, intelligent driving solutions, and battery supply chains. However, the report notes that Chinese automakers face challenges including geopolitical trade barriers, local protectionist policies, and brand recognition issues. Meanwhile, established manufacturers in Europe, the US, and Japan are accelerating software development to maintain competitiveness.

Industry competition is shifting from mechanical manufacturing to software and digital technology. Experts suggest that battery technology, large-scale vehicle models, and autonomous driving algorithms will become the primary differentiators. Despite this, the transition remains difficult, with only 36% of automakers having moved AI and digital projects beyond the testing phase.