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Foreign Carmakers Risk $20 Billion Loss as EVs Dominate China’s Market, UBS Says


Photo by FMT

Summary


  • Foreign automakers risk losing up to $20 billion annually in China as the market shifts toward electric vehicles (EVs).

  • Domestic Chinese carmakers are capturing market share with competitive pricing and innovative features.

  • China's October auto sales reached a decade-high, with EVs accounting for over 50% of passenger car sales.


 

Global car manufacturers may lose up to $20 billion annually in China, according to UBS Investment Bank. The report highlights an accelerated decline in market share for foreign brands amidst intensified competition from domestic producers and a rapid shift toward electric and smart vehicles.

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