cross-posted from: https://lemmy.sdf.org/post/53902903

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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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