Wall Street Journal (August 17)
2024/ 08/ 18 by jd in Global News
“Volkswagen, GM and other big brands are losing their grip on a once-lucrative market as Chinese consumers embrace homegrown electric vehicles.” The issue is broad ranging. “Manufacturers from China’s Asian neighbors aren’t faring better… Toyota’s Chinese JV income fell 73% in the quarter through June compared with the same period of 2023, while Honda’s equity income was all but wiped out.” China is turning into “a money pit for foreign automakers.”
Tags: Big brands, China, Consumers, Equity, EVs, GM, Homegrown, Honda, Income, JV, Manufacturers, Market, Money pit, Once-lucrative, Toyota, Volkswagen
