Chinese Automakers Must Be Guests in Overseas Markets: Chery Chairman YinTongyue
Shanghai, China – As Chinese automakers continue their global expansion,Chery Chairman Yin Tongyue has issued a stark warning: they must not overstay their welcome in foreign markets. Speaking at the seventh China International Import Expo(CIIE) on November 6th, Yin emphasized the importance of sustainable integration and avoiding any perceived threat to local industries.
Chinese car companies areguests in overseas markets, Yin stated. We cannot become the hosts. He further emphasized the need for a proactive approach, suggesting that Chinese automakers should seek opportunities abroad, particularly in markets where they face fierce competition from domestic players like BYD.
Yin’s remarks come amidst a surge in Chinese car exports. According to customs data, China exported over 4.7 million vehicles in the first three quarters of 2024, averaging over 500,000 units per month. The country is on track to reach 6 million units in total exports this year.
While this growth is a testament to the rising global competitiveness of Chinese automakers, Yin’s cautionary message highlights the importance of navigating international markets with sensitivity. He believes that Chinese companies must prioritize building long-termpartnerships and contributing positively to the local economies.
We need to be mindful of the potential impact of our presence, Yin said. Our goal should be to establish sustainable operations that benefit both our company and the host country.
Yin’s call for a guest mentality underscores the evolving dynamics of the global automotive industry.As Chinese automakers gain international prominence, they face a delicate balancing act between expanding their market share and fostering positive relationships with their overseas partners.
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