Chinese automakers to take majority of home market for first time
Chinese auto brands are set to control over 50% of the cars sold in China this year due to a growing dominance in electric vehicles. The success is attributed to competitive pricing, faster rollouts of new models, and the rise of Chinese-made electric carmakers like Nio, BYD and Xpeng Motors. AlixPartners forecasts China's overall auto sales to grow 3% this year to 24.9 million vehicles despite the global pandemic.
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