Foreign automakers lose grip in China car market crash. Global brands to sell 7 million fewer cars than in 2020

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Epic shock, end of an era: The China car market of “growth and profits forever” has vanished for non-Chinese brands.

Global automakers will sell 7 million fewer vehicles in China this year than they did in 2020.

VW down a million cars. GM down a million cars. Jeep JV bankrupt. Suzuki out. Nissan deeply wounded.

If we take a modest $30,000 as an average selling price, this means a loss of $210 Billion in revenues per year.

Such a sudden, traumatic shock, people still trying to get their minds around it.