观车 · 论势 || 跨国车企放缓，不影响全球电动化进程

Core Viewpoint - The automotive industry, particularly multinational companies, is facing challenges in the profitability of electric vehicles (EVs), leading to a slowdown in their electrification efforts [1][2]. Group 1: Market Trends - Recent data indicates that global markets outside of China are experiencing declines in electric vehicle sales, with Europe seeing a 5.9% drop and South Korea's sales falling by 21.1% [2]. - The European Union has modified its "2035 ban on combustion engines," providing a three-year buffer for car manufacturers to meet carbon emission compliance targets [2]. Group 2: Company Performance - In Q1, Mercedes-Benz sold 529,200 vehicles globally, with only 45,500 being electric, while Audi delivered 388,800 vehicles, with electric models accounting for just 4.64 million [2]. - Despite the challenges, companies like Audi and Volvo are adapting their strategies, offering a diversified product mix that includes electric, hybrid, and internal combustion engine vehicles [3]. Group 3: China Market Dynamics - The Chinese market remains a critical focus for multinational companies, with expectations of over 31 million vehicles produced and sold in 2024, highlighting its strategic importance [2]. - Companies are increasing investments in China, as seen with Toyota's new Lexus factory in Shanghai and Mercedes-Benz's additional investment of 14 billion yuan [3].