The article analyzes the current state of competition in the European automotive industry using the method of assessing competitive forces developed by M. Porter. In the process, the main indicators of the largest automobile concerns were analyzed, the capabilities of automobile companies from developing countries in the European market were assessed, the dynamics of the development of car sharing services were examined, the features of the interaction of companies with suppliers of automotive components and consumers of final products were shown. The article presents three basic options for a strategy that automobile multinationals can resort to in order to counter existing competitive forces. Based on the results of the analysis, the author concludes that the competition that European automotive TNCs make up each other, as well as their dependence on buyers and suppliers, play a major role in the formation of competitive strategies. Despite the fact that the emergence of substitute services was also reflected in the new companies’ strategies, they became a catalyst for development rather than a threat. In the near future, the Chinese companies will not be able to win a significant share in such a competitive market as the European one, so the appearance of new competitors can be estimated as insignificant.