Global carmakers search for new China strategy as market share slips below 30%

Global carmakers search for new China strategy as market share slips below 30%

Global carmakers are searching for a way to survive in China’s cutthroat market, as they continue to lose ground to domestic competitors in a landscape that is increasingly tilting towards electric vehicles. International auto brands from Volkswagen to Toyota saw their market share in the Chinese mainland slide once again in the third quarter of the year, as consumers turned away from expensive foreign cars amid an economic slowdown and the Iran war. Foreign marques accounted for less than 30...