China slowly squeezes global carmakers out of its massive market
International legacy automakers see market share shrink to 41% in China
Legacy automakers have been sounding optimistic lately about vehicle sales in China heading higher following the great reopening. Volkswagen boss Oliver Blume seemed to come away bullish from his visit in February, and others like BMW have offered similarly positive sentiment. That near-term swagger hides an uncomfortable point for established automakers: Many of them are slowly but steadily getting squeezed out of the Chinese auto […]
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