China, along with the US, has the world's largest automotive market. According to Greenpeace, the market for gasoline and diesel vehicles in China is gradually declining. The reason is that the population of the country is actively switching to electric vehicles.

This is very good news for Chinese automakers, which are mainly engaged in the production of electric vehicles. At the same time, international companies “dominating” the country's market, Volkswagen, General Motors, Honda, Toyota, BMW and Mercedes-Benz, will suffer huge losses.

By 2030, the share of Volkswagen (the company that sells the most cars in China) in the Chinese market will decrease by 3-7 percent and will be equal to 6-10 percent. This situation is explained by the fact that the German company started the production of electric vehicles late. GM will lose 3-6 percent of the Chinese market, Honda 2-4 percent, Toyota 1-3 percent, and BMW and Mercedes-Benz 0.5-1.5 percent.

China is moving towards electric vehicles very quickly. In 2022, the share of electric vehicles in China was 8 percent, and in the first quarter of 2023, electric vehicles accounted for 31 percent of the country's car market. 80 percent of electric vehicles in China are produced by local companies.

As the Greenpeace report highlights, the era of diesel and petrol vehicles is coming to an end.