China's EV Transition Has Left Car Dealers Struggling To Make Profits Amid Price War, Overcapacity - BYD (OTC:BYDDY)
The Chinese domestic market's rapid transition towards all-electric mobility has left the country's dealership groups struggling to make profits amid a fierce price war in the sector.Dealers Feeling The StrainIn a post on the Chinese social media platform WeChat on Tuesday, Cui Dongshu, the secretary general of China Passenger Car Association, shared that the rapid growth of new energy vehicles in the market was leading to overcapacity and fierce competition.He urged authorities to offer more support for de ...