Chinese automakers crush foreign rivals in China with cheap EVs, superior tech, and nationalism.
Go to the source page

Foreign automakers dominated China for decades but collapsed suddenly. GM sales fell from 4.1M in 2017 to 1.8M in 2024. Ford lost $5B in China since 2020 with sales down 70%. Volkswagen sales dropped from 4M to 2.5M. Hyundai/Kia sales plunged from 1.2M to 220k. BYD sales exploded from 420k to 3.6M becoming China's top brand. China EV sales surged from 1M to 10M+ annually in four years. EVs now 50% of China car sales up from 6% in 2020. Chinese cars 25-30% cheaper due to integration, speed, subsidies. Chinese EVs feature top autonomous driving and digital cockpits. Eighteen of top 20 EVs in China are Chinese brands. Nationalism makes Chinese brands cool while foreigners outdated. Global firms retreat or partner as juniors like VW with Xpeng. GM repurposes China plants for export to Mexico. China auto profit paradise for foreigners gone forever. Most foreigners out of China within five years.

Northeast Asia Economy Technology Politics

Comments

Be the first to comment!

Join the discussion

Please confirm that you are not a robot.