China’s EV makers target drivers who can’t afford a Tesla

China buys more electric vehicles than any other country, and most sales occur in big cities such as Beijing and Shanghai. EV buyers there can afford to spend 300,000 yuan ($43,000) on a sedan like the Tesla Model 3. Fang Yunzhou, chairman of one of Tesla Inc.’s local rivals, has a different customer in mind: a consumer who lives in a less affluent small city or even a farmer in the countryside. “Our goal is to provide a real product affordable for the whole market, rather than a rich kid’s…

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China’s auto sales to fall 10%-20% this year: CAAM

BEIJING: China’s auto sales are expected to fall between 10% and 20% this year, from over 25 million units sold in 2019, an industry body said, signalling improved expectations as the world’s biggest auto market starts to recover from the coronavirus pandemic. Previously the China Association of Automobile Manufacturers (CAAM) had expected sales to fall 15% to 25% from last year’s performance. It revised its estimate after seeing sales grow in April and May, it said. Source link

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China auto sales: China auto sales growth seen for 2nd straight month, boosting recovery hopes

BEIJING: China’s vehicle sales are estimated to rise 11.7% on year in May, its top auto industry body said on Tuesday, cementing hopes of a recovery in the world’s biggest auto market with the first back to back monthly sales increase in about two years. The China Association of Automobile Manufacturers (CAAM), in a post on its official WeChat account, said vehicle sales were estimated to rise to 2.14 million in May. It said the numbers were based on sales data it had collected from key companies, without giving further…

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