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Industry data showed China’s domestic car sales were expected to stagnate in 2026, while growth in electric and plug-in hybrid sales was forecast to slow after years of rapid expansion.
In April, China’s domestic car sales fell for a seventh straight month, though exports remained strong.
China’s automobile ownership hit 370 million vehicles, meaning it’s “no longer a growth market, but rather a saturated market,” Li said. Against that backdrop, high-profile launches like NIO’s luxury flagship ES9 SUV this week are becoming more important as automakers seek to defend market share and improve margins.
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The idea that China is strictly controlling industry is a fantasy. They have had several massive losses by allowing out of control capitalism with real estate speculation and there is no way half the Chinese automakers can survive, even with open world markets.