Changan Auto Chairman: Auto Industry Consolidation Accelerating, Top 10 to Hold 80% Market Share by 2030

Zhu Huarong, Chairman of Changan Automobile, has predicted a rapid acceleration of consolidation within the automotive industry. He forecasts that the market share held by the world's top ten automakers will reach 80% by 2030, signaling an inevitable restructuring of the sector.

Huarong shared his insights at the 2026 World New Energy Vehicle Congress, emphasizing that the industry has entered a new phase of development where "if you don't move fast, you fall behind." He noted that the sales threshold for global vehicle manufacturers is continuously rising.

"In the next three to five years, selling over 3 million vehicles may only be enough to survive. 5 to 7 million vehicles will put you in a good position, while 8 to 10 million vehicles will ensure you do well," Huarong stated. He compared the industry's consolidation effects to that of the mobile phone sector, adding that industrial restructuring is unavoidable.

Changan Automobile has reported strong delivery growth. In August, the company delivered 218,800 vehicles, including 105,000 new energy vehicles. Furthermore, the company's overseas deliveries increased by 78.6% year-on-year, marking seven consecutive months of significant international sales growth.

The industry's transformation demands faster actions, larger investments, and shorter development cycles. Zhu Huarong's comments highlight the pressure companies face to adapt and maintain competitiveness amidst a rapidly evolving global automotive landscape.