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Toyota lays off workers amid China’s EV transition. It sold 3,844 bZ4X models in China through January, representing just 0.26% of China’s EV market. Its EV sales falling 9% in the first six months of the year.
According to the China Association of Automobile Association, Japanese automakers' market share in the region has fallen from 20% last year to 14.9% in the first half of 2023.
Electric vehicle sales in China reached over 2 m through the first five months of the year, up 51.5% YOY as buyers continue adopting EVs at a record pace.
Electric vehicle sales in China reached over 2 m through the first five months of the year, up 51.5% YOY as buyers continue adopting EVs at a record pace.
Sales of Chinese brands accounted for 53% of the market through the first half of the year.
Mitsubishi Motors revealed in a memo last week it was suspending operations in China indefinitely after sales fell drastically.
$S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $MITSUBISHI MOTOR CORP (MMTOF.US)$
$S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $MITSUBISHI MOTOR CORP (MMTOF.US)$
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