The global auto market is facing a growing risk of fragmentation into three geopolitical blocs, amid rising trade barriers and international tensions between the US, Europe and China. This development comes at a time when battery electric vehicles (BEVs) reached a record global market share of 16% in the first quarter, after a 42% increase in sales compared to the same period in 2024, according to the latest Autofacts report by PwC. The development was mainly driven by the Chinese market, which generated over 60% of global sales and reached a share of 27%.
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