Analyst suggests that Ford, GM, and Stellantis should leave the Chinese market to focus on profitability
BofA analysts suggest that the Detroit 3 should leave the Chinese market amidst rising home-grown competition. It suggests that the focus should be on reducing EV component costs and focusing on profitable gas vehicles. GM, Ford , And Stellantis so far seem committed to the Chinese market. The Bank of America Securities' latest annual Car Wars report sums up the industry's current situation, with confusion over what powertrains to offer and a need to reduce EV costs highlighted.
reports that the company's Chinese earnings fell from a high point in 2014 by 78.5 percent last year. There are further threats of retaliatory action from China in the face of the US's increased EV tariffs. Murphey suggests that the Detroit Three would be better served working on ways to make their EVs profitable while focusing on core models such as profitable fossil fuel-powered vehicles. He likened the suggestion to when GM sold off its European brands in 2017.
Electric Vehicles Ford GM Reports Stellantis USA
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