American automotive industry: "Chinese automobiles will eventually enter the American market"!
On June 4, South Korean media Today Digital published an article stating that the American automotive industry said that Chinese electric vehicles will eventually enter the American market.
The automotive consulting firm Kerrigan Advisors conducted a survey on industry trends targeting the highest management of the American automotive industry. The results showed that as high as 76% of automotive manufacturer executives predicted that Chinese automobile manufacturers will eventually enter the American market. Additionally, 70% of respondents expressed concern about the impact this will have on the financial performance of traditional automakers.
Brands such as BYD and Geely have already entered global markets like Europe and Latin America. By adopting strategies such as low cost, strong technology, and extremely fast production cycles, they are rapidly capturing local market shares.
In addition, the survey revealed that one-third of automotive manufacturer executives expect the number of dealers in their networks to decrease over the next five years, while only 14% anticipate an increase in dealer numbers. This questionnaire indicates that the way automotive manufacturers sell cars will also change.
Original source: https://www.toutiao.com/article/1833983391810567/
Disclaimer: The article solely represents the views of the author.