Reported 8 months ago
Bank of America analyst John Murphy advised Ford, GM, and Stellantis to 'exit' the Chinese market, citing intense competition, rising costs, and pressure from local brands. The report suggests focusing on profitable areas like trucks to accumulate funds for developing electric vehicle technology until production costs can match Tesla's. Although leaving China would allow US automakers to concentrate on profitable segments, challenges remain, including competition from Chinese manufacturers like BYD expanding into Latin America and the need to invest in electric vehicles despite current consumer reservations over pricing and technology.
Source: YAHOO