HSBC: China's Auto Market Is Becoming Too Competitive | OilPrice.com

HSBC research:"smaller, less advanced manufacturers will be squeezed out" as competition becomes more robust.With recent rallies in Tesla , market participants are starting to mull whether or not EV stocks are about to be looked at favorably and outperform once again.

Ding predicts that"smaller, less advanced manufacturers will be squeezed out" as competition becomes more robust. Larger automakers account for 73% of the country's EV market, he writes, meaning that 57 other brands are left fighting for the remaining 27% of the market. He predicts that up to 8.2 million EVs will be sold in 2023 and 12.6 million per year by 2025. By 2030, he is expecting 22.6 million EV sales per year and he has raised his forecast on higher volumes and increased supplies.

And Tesla is definitely holding its own for now. We noted yesterday that despite price wars, Tesla was able to grow its sales in the country by 20.6% MOM. Tesla sold 74,212 vehicles and exported 19,468 units for the month of June, solidifying a 20.6% sequential rise for the EV maker, per Bloomberg's calculations.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shaky Steel Market Could Be A Speed Bump For Rising Auto Sales | OilPrice.comDespite an increase in vehicle demand and sales, a decrease in steel demand is causing a drop in the Automotive Monthly Metals Index and could potentially impact the automotive industry's manufacturing process.
Source: OilandEnergy - 🏆 34. / 68 Read more »

Audi Discusses Buying Chinese EV Platform For China’s Market | OilPrice.comGerman automaker Audi is at an advanced stage of talks to buy an electric vehicle (EV) platform from SAIC Motor, the largest Chinese auto group, for Audi vehicles on the Chinese market
Source: OilandEnergy - 🏆 34. / 68 Read more »

Wage growth figures defy economic gravity - but there are some signs of a labour market slowdownSky's Paul Kelso says elements of the employment data will give some heart to Bank of England policymakers but too many inflation indicators are flashing red.
Source: SkyNews - 🏆 35. / 67 Read more »

Historic manor house near Gobowen on the market for £1.2 millionA six-bedroom historic manor house near Gobowen with a number of amenities is on sale for around £1.2 million.
Source: ShropshireStar - 🏆 98. / 51 Read more »

Market Drayton school 'requires improvement' by Ofsted after concern over some pupils' behaviourA Market Drayton school has been told that a 'significant minority of pupils’ behaviour is not good enough' following an Ofsted inspection.
Source: ShropshireStar - 🏆 98. / 51 Read more »