Global automotive makers are beginning to query their continued presence in China as as soon as wholesome gross sales plummet and revenue margins fall amid the rise of native giants corresponding to BYD and Geely.

China is the world’s largest automotive market, with 26 million gentle automobiles offered final 12 months, however powerful competitors and even harder value wars have put once-dominant overseas companies on the again foot after a decade of reaping riches from the nation.

Chinese automotive makers grew their share of their home market from 40% in 2015 to 57% in 2023, in line with automotive analyst agency Inovev, and “it will be very difficult for non-Chinese car makers to regain lost market shares”.

Some have already left.