China to take 29% of world car market this year

90.6 million cars will be sold this year – 2.4% more than last year –  of which  China will account for the largest share at 29%, followed by the US at 18% and Western Europe at 15%, says TrendForce.

However the 25% Trump tariff on imported cars could lead to a 3% decline in new car sales in the US instead of a 1% increase.

With ten global car companies manufacturing in Mexico, and with more than 30 assembly plants and hundreds of component suppliers operating in the country, the tariff will raise US car prices possibly putting US consumers off buying.

China is expected to see steady growth in 2025, driven by government policies such as extended subsidies for vehicle replacement programs with expanded eligibility criteria. TrendForce forecasts that EVs will account for 50% of China’s new car sales in 2025. BYD is pushing for “smart driving for all” by integrating ADAS features into affordable models.