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Competition has become fiercer in China’s auto market - the world’s biggest - as homegrown manufacturers gain share and demand slows. In the first 11 months of 2023, 8.3 million units of new energy vehicles were sold, accounting for more than 30% of total car sales, according to data released last month by the China Association of Auto Manufacturers. Over the year as a whole Elon Musk’s Tesla (TSLA) still outpaced BYD, selling 1.8 million electric cars. In 2023, Volkswagen logged a nearly 35% jump in sales of fully electric vehicles, selling 771,100 units. And its carmakers have been pushing into Europe to the alarm of traditional rivals such as Volkswagen and Renault. Toyota has retained its lead as the world’s biggest automaker by sales, beating German rival Volkswagen for the fourth consecutive year. As a result, he thinks there are going to be cancellations of orders in the coming months, which will lead to dealerships seeing slower sales. “If you look at the market as a whole, we’re going end up above 50% growth year on year,” said Cantor. We also anticipate Tesla's share of the market will decrease and be less than 50% in the not-too-distant future-which is still a lot.
https://dev-westudy.accedo.gr/members/citybra60/activity/2199936/ |
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