According to the Yonhap News, global auto companies have received successive blows due to the intensification of Sino-US trade disputes. Germany's Daimler Motor Company No. 20 (local time) said that this year's EBIT will be slightly lower than last year.
According to the report, Daimler's decisive factor in adjusting its performance expectations is that SUVs sold to China after being produced in the US factory are affected by Sino-US trade disputes. China has launched a counterattack against the US-sponsored tariff of 25% on Chinese products, saying that it imposes the same level of tariffs on US products, including cars.
The complex division of labor in the automotive industry requires an open trading environment
Economic Daily · China Economic Net Financial commentator Jin Yugui said that in recent years, although global automobile production has increased year by year, the industry has entered a stage of low-speed growth. China's economic development is good, and the market demand brought by the huge population is still the largest single automobile market in the world.
In the past, Europe exported to the United States, and the United States exported China to form a triangular trade relationship between China, the United States and Europe. One of the core products is the automobile.
However, since the beginning of this year, the trade friction between China, the United States, the United States and Europe has intensified. The US government has imposed tariffs on imported cars and parts. China has adopted the same countermeasures. Naturally, it will have a long supply chain and a complicated division of labor. The automotive industry has had an adverse impact, and the development of the automotive industry in the next few years may not be particularly desirable.
China's auto industry chain is increasingly mature, increasing its influence in the global market
Jin Yugui believes that the current development of China's auto industry presents three characteristics. First, the development of local brands is fast and the industrial chain is increasingly mature. The second is the rapid development of new energy vehicles, especially electric vehicles. The third is that in the past, in the global auto market, Chinese brands were rarely seen. However, in recent years, Chinese auto brands have established joint ventures with foreign brands through mergers and acquisitions, and the industrial resources have been continuously optimized and reorganized, and the competitiveness has been continuously improved. Will occupy an increasingly important position in the global market.
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