McKinsey auto leader: China’s auto industry is faster, cheaper and better. Here’s how the West can close the gap

Chinese automakers have significantly advanced in technology and cost efficiency, capturing global market share previously dominated by Western companies like the Detroit 3. Western automakers face challenges as Chinese competitors expand into Europe, Southeast Asia, and Latin America, with BYD operating 200 sales outlets in Germany alone. Chinese vehicles now offer faster development cycles, lower production costs, and advanced features like software and connectivity, making them competitive beyond price.