Friday, May 24, 2024

Desperate China overproduces millions of cars every year

22 million new cars are bought a year in China. The country's car brands can build 40 million cars. But they have difficulty selling them elsewhere.

The Chinese cars are coming. In fact, they are already here. But the success for those out there will be.

In any case, the car brands find it difficult to gain a foothold in the Danes' consciousness. One has even already taken the consequence and gone dormant. Read more about it here.

Car brands are also starting to become a problem in China, however. There is simply too much capacity in relation to the market.

In fact, the Chinese car brands can produce almost twice as many cars as they collectively sell in China each year. Yet the communist dictatorship continues to support the industry economically.

READ ALSO: Psychopaths prefer these cars, survey shows

In April, the Kiel Institute was able to present evidence that BYD alone – which believes it has received a blue stamp in Denmark – has received at least 2.1 billion euros, corresponding to 16.5 billion Danish kroner, in state subsidies.

– Subsidies such as those given to BYD have made it possible for Chinese companies to scale up quickly, dominate the Chinese market and facilitate increasing expansion in EU markets, writes the Kiel Institute in a report.

Still, more and more new car brands are popping up in China. According to the Wall Street Journal, however, the Chinese are not content with that.

Investors buy car brands that have otherwise succumbed long ago. An example is Zhido, which after a bankruptcy in 2019 must now be revived.

Conversely, the Chinese have been gifted with a gigantic market in Russia, after Western car brands withdrew due to sanctions against the Putin regime. And even if the Russians don't mind the cars. Read more about it here .

READ ALSO: Psychopaths prefer these cars, survey shows

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