CHONGQING (CQNEWS) -- Though the Chongqing International Auto Exhibition 2024 was nearing its end, the exhibition halls remained a sea of people on June 13.

The auto exhibition has attracted tens of thousands of visitors since its opening on June 7, including many car dealers and new energy vehicle enthusiasts from across the world.

Auto show opens up new paths to overseas market

Mohammed Omur, an auto dealer from Dubai, was attracted by the Deepal G318 in the N8 Hall of Chongqing International Expo Center on June 11 and excitingly said, “I love this auto exhibition!” He has ordered a large number of car models in the exhibition and signed cooperation agreements with several Chinese auto brands on behalf of his company.

Sergio from Mexico joined the exhibition in Chongqing immediately after he visited the auto exhibition in the Guangdong-Hong Kong-Macao Greater Bay Area, as he did not want to miss any of the new car models released in the exhibition.

Chinese new energy vehicles are evolving at an incredibly fast rate, said Sergio. He is the founder of an auto media platform and has paid close attention to the changes in China’s automotive industry in recent years. In his view, the emergence of many new vehicle models represents China’s groundbreaking and original innovations in automotive technology and design.

"For example, the Changan Qiyuan E07 can be used as both a pickup truck and an SUV; and Extreme Krypton MIX, with its reversible front seats, achieves a revolutionary innovation in interior space." Sergio signed, “Some international brands would occasionally unveil concept cars with revolutionary designs, but very few of them succeeded in producing them. Only Chinese auto manufacturers turn what they imagine into reality.”

New energy vehicles represent new market opportunities, said Payten, a car dealer from Malaysia. “We saw many products at the Chongqing International Auto Exhibition. With new functions and market positions, these vehicles will create a larger market space beyond the traditional gasoline car market.”

The exhibition provides great opportunities for new businesses and cooperations, said Victor M.Mendez, the president of the Mexico-China Chamber of Commerce and Technology, adding that the Chongqing International Auto Exhibition offers an important platform for global automotive industries to exchange ideas, technologies, and opportunities, showcases the growth and innovation of China's automotive industry, and reflects China’s closer cooperation with Mexica in business and technology. They look forward to China making more significant progress in leading the automotive industry towards electrification, artificial intelligence, and sustainable development.

Localization strategy meets the challenges of the US and European markets

On the one hand, Chinese automobiles are favored by more and more overseas consumers; on the other hand, how to open up international markets steadily against the EU's anti-subsidy investigations and the US's tariff hikes remains a challenge for the Chinese automotive industry. This topic provoked heated discussions among industry insiders at the Chongqing International Auto Exhibition.

While embracing the electrification transition of automobiles, the US and the EU are developing policies to block their competitors from China, said Mark Han, the head of the Electric Vehicle Legal Advisory Committee of Dickson Wright LLP.

US car sales account for 18% of the global total, but only 10% of these cars are made in the US, with the rest imported from Japan or Germany or manufactured in Mexico, said Bill Russo, CEO of Shanghai Motuo Business Consulting. He pointed out that the low local production rate of automobiles in the US was one of the reasons why the US government imposed tariffs on Chinese cars, and Chinese companies may consider moving part of their supply chains to the US.

Although Chinese automobiles are facing unprecedented challenges in exporting to Europe and the US, Ye Ziqing, CEO of Hudson Automobile, believes that by seizing new opportunities and adopting new strategies, the Chinese will still have promising prospects for automobile exports. (Translated by Yuki, Fathom Language Limited)