Double down or get out: the options for foreign carmakers in China amid shrinking share

Foreign carmakers in China are expected to see their market share decrease this year due to a worsening price war, with overseas companies potentially dropping to 32-33% of the electric vehicle market from 35% last year, according to analyst Valentin Mory. Domestic brands are expected to increase their market share to 70% from 65% last year as buyers opt for cheaper and better EVs. The price war, sparked by BYD cutting prices, is anticipated to intensify, leading to a challenging environment for foreign carmakers in China.

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