Garbage brands like Ford were making profit in China simply because Chinese people held the belief that anything American is better quality. Not anymore.
Ford still has a strong presence in Europe, GM so-so. Sadly the traditional big three from Detroit have been playing catch up in terms of quality and innovation against both European and Asian brands for decades now and just can't seem to make any headway at all. So it's not all that surprising that Chinese manufacturers are not only gaining headway, but are fast becoming on par with their Japanese and Korean counter-parts. Jeremy Clarkson and James May of Top Gear & Grand Tour fame did a peioe on China's auto industry in 2012, they noted that the Chinese makers had gone from making what was basically a motorized three wheel tut-tut to somewhat decent knock off of European models who's quality at the time was close to but not quite there to European makers, but opined that if they had done that in less then 10 or so years, where would they be in ten years time? I think we now have our answer to that question.
Yeah, China knows how weak our manufacturing is which is why they are willing to confront the US in a war, the US simply doesn't make anything anymore.
you need to have heart to heart conversation with GM/Ford salesperson so they can convey the value of their cars. Just don't drink cool aid before you go there
Nobody complain when European American Japanese cars flooded the Chinese market during the past 30 years . Now European American Japanese started blaming China of overcapacity of cars😮
@@rawwhide Actually, not safety problem but only political problem. Now EU allows BYD to get into the markete, i don't think American standards would be better than EU in safety.
@@ChinaSongsCollection It's called quality. If you build a quality car, you don't have to replace it every 15 minutes. The AVERAGE age of a car in the US is 12.6 years. 14 years is not even slightly surprising. There are Model T Fords that are OVER A CENTURY OLD and still run just fine.
@@robotnoir5299 Ok, fair enough. But this is all going to change very soon. Cars have advanced in their evolution. They now belong to items of the high tech category. Not too different from your computer at home. You won't want to use the same car for 14 years the same way you won't want to use the same computer for 14 years. It has nothing to do with quality.
@@themightybunbun3613 you can only afford what your importer thinks you can..... if you can only buy cheap things which means you're not rich enough to buy better quality ones
Just 20 years ago, people thought China can only copy and replicate but not innovate. 20 years later, nearly every sector is being challenged or surpassed by China. Those who doubt the Chinese, don't really understand China. They have the scale, work ethic, and the brains to take the lead in nearly every industry. It's just a matter of time.
Stealing tech, not investing in r&d, exploiting employees harder than any other countries, ignoring all environment or other laws in production, no wonder the costs are low
Chinese automakers received $27 billion in subsidies to produce better vehicles, while General Motors and Chrysler received a $80 billion US bailout under the Troubled Asset Relief Program (TARP) to avoid bankruptcy.
The big three will be right back at the trough by the end of the year begging for another bail out, and they will get another bag of tax dollars to squander.
@@thusspokezarathustra1847 is it true that half people in the west are born out of wedlock and half of your woman slept with at least 10 men.in their life time ?
@@thusspokezarathustra1847 Christianity is dead. The west is dead. Arab and Muslim countries are prospering and i d rather give my money to the chinese than Christian and western enemies
Ever notice how the media, when talking about "state support" in China will show pictures of police, for no real reason at all, but when talking about the same thing in the west will show video of hospitals and factories? Like, what exactly do Chinese cops have to do with government investment?
In China, soldiers are people who can be trusted unconditionally, and then the police. It's a pity that people in Europe and America can't understand this feeling.
It's true for many industries. America would shut down tomorrow if all the subsidies to the oil and food industry ends tomorrow. The thin veil of capitalism.
Well, all countries do this. If not for the high subsidies the Chinese government gives to EV's companies, they would all actually be bankrupt right now and fail domestically... in China. Chinese EV's are currently selling for about 1~2% profit domestically, and that's with the subsidies. Imagine if it's gone. They would not be able to survive their current price war domestically. Its also the reason why they are dumping so many in the international market, because the domestic Chinese market has basically reached saturation with the current economic conditions, so in order to keep up GDP values and their margin thin profit, they need to literally pump and dump internationally. All countries do this to protect domestic companies, not just the US. I'm pretty sure every single country has tariffs on foreign cars.
@@rebeltheharem70281. Chinese has already stopped subsidies for two years 😂 2. The subsidies did not differentiate brands, which means Tesla BMW or any other foreign brands producing EV received the subsidies as well,so it was a fair game
As a foreigner living in China , I have been driving a Chinese car, the Lynk & Co 06, for four years without any major problems. I can confidently say that the quality of Chinese cars is continuously improving. This progress is evident in their collaborations with major international brands such as BMW , Mercedes-Benz and more…
If you build a car or truck with a sewing machine for a motor and a pepsi can for a body,then make that auto un serviceable or expensive to repair, while you competitors are doing the opposite ,you can't fool the people forever, sales will eventually drop 👇 PS don't forget to change the style every other year and discontinue parts after 5 years ,to make them completely unaffordable
Just googled the said models you use for your daily commute, sleek looking nifty little SUV, with hints of the Porsche cayenne, but a fraction of the price and 4 year guaranteed service, i want one shipped to Nairobi, Kenya.
Very interesting, I have a Linkco 06 too. It's not a mainstream car here.No issues for 3years. I used to have Honda accord, Skoda Supber, Kia Sportage,Toyota Highlander, BMW 5 and AUDI Q7.Now I mainly drive LI L9, may buy another LinkCo or other Chinese EV in next 1-2years.
China invested in its own development only a fraction of what US did on sparking wars in Middle East. And that brought outsized results to China. Imagine what the US would look like if it spent on its own people instead of creating human devastation.
@@jbcom2416manufactured in china but every part is from America(aside from rare earths, even the batteries are assembled in America and shipped to china for assembly), Chinese products are notoriously shotty these days. Manufacturing in China isn't as cheap as it used to be 30 years ago their economy is the 2nd largest in the world, so now to reach quotas certain manufactures use cheaper materials ultimately creating inferior products.
You only saw half the story, Tesla is the other half, this piece glossed over Teslas ability to compete . This piece has a interview with a analyst who says the Chinese auto makers will soon know everything Tesla does and Tesla will go out of business- not at all, Tesla innovates constantly, the Chinese can copy but this constantly leaves them 1-3 years behind, the Chinese consumer knows this and loves Tesla.
Serpentza has a video of where the BYD sales numbers come from. Their exploding cars. If the Chinese prefer those options, then they should stick to their own cars.
And now Afghanistan is already being free from the American invasion after the Afghan people kicked out the American army. This shows that no countries interested with the American hegemony anymore. 😁
America invested in the boards of directors! Not the normal people! Biden has finally figured that out! Look at what the GM CFO raked in these past few years while she was out saying they couldn't give workers more! Now that Joe is in union jobs are being created! Get the $$$$ back to the regular folks and not the richie riches! How about Local 58 Detroit Electrical Workers Union! My ole man made a great living working that trade, right out of WW2!
It’s because the so-called western free market is even more heavily controlled than China’s market. Protectionism and dumping of cheap goods in developing nations.
@@jackcarterog001 Not just government, no. Companies like Apple and Tesla actively lobby Congress so that innovative products and companies from China and elsewhere can't access the US market. Because it would signify the end of days for them.
The US car manufacturing industry is suffering the same problem as Boeing. The "greed is good" mentality of the 1980's led to bean counters from the MBA programs dominating management and insisting on short term gain over quality, safety and the long-term viability of the firms. 🤔
One of the reasons China fares better is that executive compensation and dividends are quite lower as a percentage of revenues for Chinese firms. Less money siphoned out to already rich people, more money for expansion, R&D, lowering prices, etc. More so for state-owned firms. Executive pay at state-owned Chinese firms seems to be capped at less than 10x what the average employee earns, which is a tiny fraction of what CEOs earn in most developed countries.
Yep started in the 60's but hit its peak in the 80's and 90's. They thought they could keep profiting off of malaise era cars, then wondered why no body was buying their cars as their traditional customers were heading into nursing homes and the Japanese got really good at making durable economy cars that people actually wanted, same with the Koreans in the 00's to the point where they took a huge chunk of the eco market from names like Mazda, Mitsubishi, Nissan and even Honda to an extent.
If you want a big vehicle which most Americans do purchase than American automakers are a great choice. The problem is that American automakers are no longer cost competitive a nice truck is 80K USD which is just out of reach for most Americans
@@dennisp8520 If you want a big vehicle a toyota hilux is an even better choice but you won't see those because the US government doesn't like the free market.
In year 2000, Japan exported 4.82 million cars globally while China exported 17 thousand. In 2010, it's 4.93 million vs 540,000. In 2022, it's 3.5 million vs 3.11 million. In 2023, China overtook Japan's 4.42 million exports with 4.91 million and became the largest car exporter by number. It's not just the US.
Flying Car is available and certified in China this year, all systems go for consumer market. Detroit big three don‘t have to worry about Electric battery anymore, but start thinking how to "Fly". 😂
I live in Uzbekistan, here GM has joint venture as well, and they agreed with government to set up so much protected monopoly market of GM. Ordinary people of Uzbekistan has been suffering from this GM monopoly. Because we don't have any other choice than buying the crap expensive GM cars. Shame on you GM. American companies are not playing fair, they bribe Uzbekistan government to facilitate the Full monopoly of GM.
As a fellow African (South African), I agree with you. I'm glad much of our continent has a good relationship with China. The Chinese cars we have here are just so good compared to the European ones. Safer, more reliable, just as luxurious, better tech, more affordable... it's really a no-brainer in this day and age.
@@TD1237 You know what is the biggest surprise and the proof that crappy France cars are scared of Chinese cars! Just last year, Morocco have signed a BIG contract for China to start establishing a mega EVs manufacturing company in Morocco to start exporting to Africa with ease... However, to our surprise just last month, it was announced that Morocco have retreated from the agreement under France's Pressure since they are the biggest cars manufacturers in Morocco . But times are changing and hopefully we will have Chinese cars made here soon.
The pattern was clear years ago. When I was working in China in the late 1980s, I remember how foreign companies were falling over themselves to get into the local market. They could operate tax-free (as I recall anyway) for five years but the proviso was they had to teach the Chinese how to make product. The foreign companies made buckets of money. Then, the student surpassed the master. It was foretold.
That's still worth it in my opinion. I wish I could make buckets of money for 5 years tax free. If I'm not mistaken, the land for the factories was also free for most of them. In some cases, the local governments even paid for their electricity!!
Well, the foreign companies have not taught the essential part of the technology. When the santana model first introduced in China, all components were made in Germany, and the local Chinese firms only put them together. It is because the Chinese companies found that they learned exactly nothing seriously from foreign companies in legacy auto makers, that they began to invest in EVs
As a car enthusiast since 1992, I never thought I'd even consider a Chinese car. Now, I look at Chinese car market everyday, and most of my favorite cars are Chinese brands! Just 5 years ago I had zero interest in Chinese cars! My current favorite Chinese cars are: Hyper GT, Xiaomi SU7, Jiyue 07, MG Cyberster, iCAR V23, Landian E5, Jiyue 01, and Venucia VX6.
Except that the price will rise considerably. The 10k Seagull would never be allowed on our markets as it does not comply with our safety standards. Take the Dacia Spring, a small, electric car that originated in China and has been on sale in Europe for a few years now. But the price difference between the Chinese and European version is enormous.
The Video is correct. I was an Engineer at GM in the US in the 80s, went to Europe in the 80s-90s, and worked with Opel and mainly trained their Engineers on Tooling in Germany, and Spain. Worked in the 90s and 2000s in the US and Mexico doing the same. Then in 2003, I went to China to do the same. I helped to teach Chinese Engineers and Shops how to make high-quality tools for cars, after 10 years in China GM decided I was no longer required, so I was let go. No Job, No Money, My wife divorced me, the kids went on their way, out of college and I was left alone.😯
Hope you are doing ok now brother and I wish you peace and new purpose in life. I appreciate how you provided for your family all of those years, even if no one else does.
As a Chinese, I think American car brands have never been mainstream in the Chinese market. In the era of fuel vehicles, American cars have always been synonymous with high fuel consumption. Entering the new energy era, American car brands are lagging far behind.
Aren't there a good amount of people in China that are financially well off and can afford to pay more for gas?...I'd love to visit China if relations between China and the US was better. I'm curious of the new cities and ghost cities.
@@filippocorti6760 Fuel economy is an important reference indicator for Chinese consumers when purchasing gasoline vehicles. Firstly, China is still a developing country with a per capita GDP less than one-sixth of that of the US, and more than 600 million people earn less than 140 USD per month. Due to the significant wealth gap, a small portion of the population is very wealthy, but the majority do not have strong economic power. Secondly, many of the older generation in China lived through the era of massive scarcity and hunger in the last century, especially during the 60s and the 70s. For them, and the generation educated by them, "frugality" remains a virtue recognized by mainstream society. Given a choice, many would opt for options that consume less. Lastly, China's rapid development has been built, to a certain extent, on the hard work and sacrifices of its people. Many are burdened with mortgages and car loans, and need to support the elderly and raise children. These individuals are the main demographic for car purchases. For them, choosing vehicles with better fuel economy is a natural choice. Welcome to China! Well, under propaganda of conflict between China and US, many Chinese may have preconceived notions about America, but I'd say overall, Chinese people are friendly to people from other countries. Cities like Shanghai, as well as the new cities and ghost cities, are actually located in some of the more economically developed provinces of China, where you should be able to have a good travel experience.
@@filippocorti6760I think it’s just because the base number is big. On the other hand the proportion of rich people are still small and the biggest consumer of vehicles are still middle class families
And? Those 600 families run companies that provide jobs, goods, and services. The tax revenue their companies and workers generate will pay for those infrastructure improvements.
@@alexnowicki286you mean the US? Buddy, if you are dismissing China you are 100% clueless. You may never know unless you visit yourself. M I N D B L O W I N G
@@alexnowicki286 your wilful ignorance is astounding. Ok, we could delve into this if you’re up for it. Can you list one or more reasons they “won’t be a country” sometime soon?
As a Chinese, I think it is unfair to blame subsidies and unfair competition for the current situation in China's auto industry. Our family bought a Buick lacrosse in 2017. At that time, no one would buy a Chinese car. Even if they did, they would buy a low-end model under $15,000. At that time, Buick had hybrid and pure electric products in the Chinese market, but only a small number of two or three. Starting from 2020, people are surprised to find that the domestic car has become better, while the product power of the joint venture brand has stagnating, Buick still has only two or three new energy options, the price of their old products has dropped significantly, and their product line has become chaotic, expecting to fill the profit gap through the market positioning strategy: this is a sign of recession. While Chinese automakers can still update their product lines once a year, it is clear that these joint ventures have done too well in the past, when they could only take a few models from the global market and sell well in China. Now the good times are over.
As a Chinese, My first car was a 2013 Ford Focus, maed in China. Apart from a few brake light bulbs and tire changes, it never had any issues and is still serving my father-in-law. The second one was a 2017 BMW X3, made in South Carolina, USA. I had to replace the turbocharger, transmission controller, and window glass motor. Now, I've ordered an ATIO M9 HEV and am awaiting delivery.
Mercedes Benz, or at least the ones made in the US, are even more trouble than BMW...I'd like to drive a Chinese car to see what it is like. Also, a Russian Lada.
My first car is GWM Haval Jolion ... quality is beyond expectations. Now my friends want to buy these Chinese brands ... Western cars are losing attractiveness
Not well researched though. They made a lot of basic errors like stating TikTok is a top social media platform in China (TikTok does not operate in China)
👍 A lesson for CNBC or any other mainstream media: people are not stupid. Biased or inaccurate reports will only harm their credibility. Knowing the truth is always the best regardless of your emotions or political stance.
I am a Chinese. I bought the Ford BRONCO. It is produced in Hangzhou and the city where I work. The factory here also produces engines and gearboxes for export to the United States. In fact, it is true that people around me have bought a lot of American fuel cars in the past few years, but American fuel trucks began to decline about four years ago. A big reason for this is the emergence of Tesla MODLE 3, and people around us began to buy Tesla in large quantities because the electricity bill is very low but the oil price is very high. It costs only $30 a month to recharge, but it costs $230to use gasoline. At that time, Chinese trams could not compete with Tesla. Three years ago, Chinese car brands developed many tram platforms. Now many brands SMART, Toyota's BZ3, BMW mini and Volvo are actually Chinese electric platforms. They have just changed their shells and LOGO. In fact, Americans don't have to worry about it at all, because most of the software in the car is American, including intelligent driving chips, many cars are LUINX, and the chips are Nvidia and Qualcomm. As far as I know, Chinese chips are only used in cars under $30, 000, and Tesla is still ahead of the market share in China. The problem is that without a second Tesla, many Detroit brands have become outdated and unenterprising. Many American politicians are unwilling to face this, creating a lot of ideas that China is a beast. Every time I watch American news, I think about it. Are there many Ford and JEEP in Europe and Japan? I hardly saw one when I went on a trip, but it can be seen everywhere on the streets of China. In the past, China did not have overcapacity to produce socks and Santa Claus, but now it is said that we have overcapacity to build car phones. When I was in high school, I had an American couple who taught me English, showed us American movies and played GTA and Blizzard games for us at school. At that time, I thought the United States was the most advanced and democratic country in the world, but now I think the United States is a domineering country, always irrationally demonizing us.
This is actually a pretty honest and informative post. A refreshing read. Totally different from the rest of WUMAO trash. I would like to point out that, American news is mostly useless, especially when it comes from politicians. Most of our politicians are very low quality these days. Best not to judge us by the crappy news you read.
Americans generally don't conflate people with their governments like other cultures, so any demonizing you may feel is probably more directed toward the government than you. America has the highest number of Chinese people outside of China itself. And the problems facing Tesla are numerous, but your point about the cost, do you know that if you buy a new Tesla in the US you get a federal credit of $7500? That means that whatever price you see Tesla selling for in the US means it actually cost $7500 because most of the time, the news is only going to publish the price after that credit. The fact that EVs still cost more than gasoline cars is bigger part of why Detroit is slower to compete with Tesla. That federal credit could go away with very little warning.
Even in Taiwan, We don't buy murikkkan cars, why on earth should mainlanders continue to buy muricas junks?! As a Taiwanese who also identifies myself as Chinese, I tend to buy merrikka brands as LESS as possible to show support for my fathers homeland, all mainlanders should the same when facing merikkkas bully
@Lee-fw3vq Shame on those who are still worshiping the United States of Snakes🐍 frm Both sides across the Taiwan strait. The best selling petrol cars here in Taiwan are Japanese, Korean and European, nobody wants to buy merican junkies even though our govt likes to lick the boots of Uncle Sam.🤧🤧🤧 Tesla Might be an exception due to the fact that competitive EV brands frm mainland China are either severely restricted Or directly banned by our govt. And we all know Tesla won't stand a chance of beating Chinese EV brands in Taiwan once BYD is allowed to sell their super affordable and competitive EVs here.
Second family car was a Ford Mondeo (version of Fusion sold in China), loved it from the very beginning, although it's more of a European car than a American car, had great memories in it. Then I came to the US and got a Ford Mustang V6, all great. Now I'm back in China driving a Volvo XC60 and contemplating on buying a Zeekr 001FR with Kimi Raikonnen mode.
@@Mohammadkwt communism has everything to do with China's success. Although leadership stays the same for years and years, policies can be changed overnight to address imminent challenges, unlike in democratic countries where leadership changes every 4-5 years, yet policies take more years to be changed and adopted, despite the need, as law makers play dumb politics.
For regions like Hong Kong that do not produce EVs, we are delighted to import what are known as overcapacity EVs. As for those regions producing EVs, you have two options: either increase your productivity or raise tariffs to protect your auto industry in the short term. However, in the long run, good luck to you.
I mean just GM has been in China for over 25 years and were making upwards of 2 BILLION dollars PER YEAR just in profits. Multiply that by 10 for all the other major western carmakers who set up shop in China over the decades. That's a wealth transfer of literally hundreds of billions of dollars from Chinese consumers to all these companies. It's not like the Chinese got good at building cars for free here.
I’m American and I’ve never bought an American car. I have however bought a lot of American aftermarket parts for my foreign cars because a lot of times they’re better/improved. I think the quality at the price that American automotive manufacturers sell their cars for is ridiculous. There’s very few good “bang for the buck” American cars out there. I don’t even want to talk about trucks and the scalping Americans are doing to themselves in that segment.
A friend of mine who’s an auto engineer works for an auto part manufacturer in Windsor, Ontario here in Canada, told me never to buy American made vehicles as he sees the quality of auto parts declines and defect rates soar over recent years. It’s such an irony.
CHINA IS A FASCIST TOTALITARIAN EDUCATION REGIME ! THE MAIN ACTOR BEHIND THE RUSSIA WAR ! THE MAIN ACTOR BEHIND IRAN ! THE MAIN ACTOR BEHIND HISBOLAH HAMAS AND HUTHI ! thIS CHANEL SHOULD WAKE UP ! AND REPORT THE TRUTH !
American car manufacturers must control their car parts by manufacturing very competitive car parts in the US and not import the. Fro other countries with questionable qualities.
As a Chinese, I got my drive lisence In February of this year. My driving school instructors are brothers. The yonger one drove an EV, while the elder one criticized EV sharply and suggested us students not buying EV🤣 Everyone in this world can probably tell you that 'not to do/buy something', and you don't have to take every words seriously. Just as the saying goes: Don't listen to what people say; watch what they do.
Currently residing in China, I’ve observed a significant shift in automotive preferences among the locals. The majority are opting for more fuel-efficient, affordable, and reliable vehicles. Brands like BYD and Roway are leading the charge, crafting well-built cars that meet these demands. Tesla’s establishment of a Gigafactory in Shanghai has notably accelerated advancements in car battery technology and automation in electric vehicles (EVs). These EVs are not only fast and efficient but also perfectly suited to the urban lifestyle here, where cities are densely populated and everything is relatively close by. Unlike in the U.S., where long-distance travel demands more fuel consumption, the compact urban environments in China make EVs and smaller, efficient cars a practical choice. Moreover, the build quality and quality control of these vehicles are exceptional. Priced around US$10,000, these cars offer formidable build quality at a fraction of the cost of Japanese models, which, despite their fuel efficiency, often fall short in terms of handling and overall build. In contrast, American cars suffer from high import taxes and poor quality issues, making them less appealing here. It’s clear why these cost-effective, well-crafted local cars are becoming the preferred choice among Chinese consumers.
@@jackgaffney8468bro stop lying i am in a Facebook group, there's people from UK, Europe, Australia, Brazil etc everyone is loving BYD cars, ain't nobody complaining about it. They're even selling their combustion vehicles to buy a second even 3th EV
The US anti-China policy of "High Fence, Small garden" championed by Sullivan & Blinken will be wildly successful. The high fence will prevent China from importing its EV into the US market directly, but the US market will become the small garden that American car-makers are contained in. The rest of the world will be the playground for Chinese EV companies.
As an American Ford Fusion owner, I'm embarrassed by American car companies. Americans have treated the car industry like fast food. Low quality at high prices. America is getting what they deserve.
Really funny to see all this videos about how China's economic is crushed to the ground dozen times for last half of a year already 😂 just how Russian economy is "teared to pieces" since Obama and yet outproducing NATO while keeping social spendings intact (like yeah okay Tucker ashames himself with video about Russian shop treating as innovations things that normal also for European shops if not American ones, but its not the point - point is Russian shops looks like decent European shops while Russia waging the most huge and expensive war of the century and producing shitton of weapons while West collecting scraps and gaslighting people into war mentality despite not formally being side of the war to prevent even more riots when social spending will be cut even more)
@TeeHee-vo1bnhave you listened and followed Elon Musk, he said exactly opposite which totally disagrees with your opinion! Listen to all his speeches and interviews! He is one smart man! Yes, right, he is South African and Canadian! ❤️from🇨🇦. I have been following him and invested in his company when he was nobody! I trust his wisdom!
That's very true. I bought a BYD car 3 years ago for 140k RMB (~20K usd) and it's still working perfectly. I think I would need to spend over 40k for the same quality if I chose Japanese or US brands...
1 to 2 decades ago, US said that China's economy is very inefficient and productivity very low. Now it complains that China is too efficient and too productive thus causing over production and cheaper high techs which no other nations, including itself, can match ...... Thus must be sanctioned. Oh, the irony.
13:45 It’s a bias that Chinese customers don’t like American cars. When I was in Shanghai, my first was a Chevr, and then a Buick. American cars still been chosen by a lot of people in China. Nowadays, the reason why GM sales declines is that the they can’t keep up with their Chinese peers. The hybrid cars(BYD Qin&Roewe D5X) in China with 10kwh battery cost less than 20k USD. Both of them have superior drive experience and big screen driver interface. In tech development road map point of view, the gas power reached its limitation, people need to consider the future tech trends.
Gimme a break. Even in Taiwan, We don't buy murikkkan cars, why on earth should mainlanders in china continue to buy murican junks?! As a Taiwanese who also identifies myself as Chinese, I tend to buy merrikka brands as LESS as possible to show my support for my fathers homeland, i suggest all mainlanders do the same.
Putting aside the aesthetics that are specific to Chinese, what exactly is new in your car? What technologies? Any breakthroughs or just rewrapped western technologies?
In Philippines the most best selling Pick Up truck is Toyota Hilux and Ford Rangers only comes second. This is only based on the opinions of those I have asked
The main problem of US companies is that they make every single decision thinking about the shareholders first; Boeing gutted research, development and equality control. Now the company is in a nose dive. While everyone was researching 5G technology, AT&T and Verizon were ALSO gutting R&D in favour of purchasing stream services, media rights and giving higher bonuses to the CEO.... That's becoming a trend in every sector. Even tech companies started laying off massive amounts of employees while reporting record profits.
China has been prepared EV technology since 1990s. One of the top scientists of China (Qian Xuesen, one of the cofounders of NASA Jet Propulsion Laboratory) wrote a letter to the central government and suggest focus on EV technology in 1992. That's why Tesla can start using Chinese supply chain very quick after their Shanghai factory was built because everything was already there and just need to be polished by the market. There weren't too many patents registered in the 1990-2020 in the EV related industries, so Chinese companies don't need to spend extra money and time to find a way to avoid the existing patents like the ICE cars. Many electric related patents like the electric motors were already registered by Chinese electric parts companies originally for bullet trains or other industrial vehicles which can be bought easily with no competition situations.
My BYD owner friend said that he chose BYD over Tesla because Tesla is very basic and3x the cost of BYD. As a buyer anyone will go for BYD and their features are always improving.
You know, I'm starting to think that the US is attempting to do what they do to South American countries and Middle Eastern ones when they aren't doing what's is expected from them. Except, China is no small country that can be bullied into what the US says.
The Dominating Club of the world is called G7, keep all the global south countries poor, and supply cheap goods and raw materials and energy, and they stay on top of the food chain like a king. However this is changing because of China. We Chinese ppl never bow down to bullying imperialism, and we are well organized to work hard towards one goal, to make China great again like where she stood for 5000 years.
Tesla is trash. My brothers boss got one and it keeps having issues. He had it for a week before it started failing. Now it's in telsas shop and waiting who knows how long. he's debating getting a refund from the lemon law.
If the US doesn’t allow China cars being sold in the US then so does China don’t want American cars to be sold in China. The feeling is mutual, nothing personal just business decisions. If you don’t allow Huawei or other Chinese branded phones then they’ll also stop buying Apple iPhones and the list goes on and on. Chrysler, Ford and GM have the worst reliability among European, Japan and Korean brands anyways.
Tesla, Apple etc were popular in China. American brands were never banned in China, at least at government level. While the Chinese government has expressed their anger towards US sanctions against China, they welcome all American businesses. This promoted investment and healthy competition.
@@boli1435 Western car manufacturers could only sell and produce their cars in China if they joined forces with Chinese companies and taught them how to make better cars. This is not a real competition.
The Chinese automotive market has matured significantly, with consumers becoming increasingly knowledgeable about cars. Many have already purchased well-known brands and have a clear understanding of their needs. This consumer sophistication is complemented by widespread automotive knowledge and the rapid introduction of new vehicles featuring advanced technologies and autonomous driving. Consequently, foreign and imported cars are struggling to keep pace with the competition, as domestic manufacturers continue to innovate and meet the evolving preferences of Chinese consumers. This has intensified market competition and weakened the competitive edge of foreign brands.
American automakers care more about shareholders than about the consumer. I think that’s the biggest mistake. Worldwide automakers try to offer a good product while the american automakers whant to make it cheap and charge as much as possible. Cheers from Portugal.
I don’t see how American car manufacturers want to enter other countries while making it difficult for other car manufacturers to enter America (BYD) 100% tariff.
@@maninscrubdallas8694 I am sure China will do that but the thing is it will become expensive if they manufacture in USA . Plus USA hates competition . Your billionaires will never like Chinese car manufacture to flourish . Think about it a billionaire will take dealership from China . Will buy cheap and will sell with high price . Why would they sacrifice the profit ? Capitalist don't care about citizens it's all about making money . They are doing the same thing almost every thing . They buy from China and sell in USA with high price .
@@maninscrubdallas8694 even with fair price competition Chinese car will be less expensive than USA car . Plus it's not about price , it's about the product . Even with same price range the Chinese will dominate the market because right now Chinese car manufacturers are producing better car than USA .
I find CNBC videos generally to be poorly researched and inaccurate. This was an exception. However, a few things that were missed. First of all, Buick was successful in China (and not Cadillac) for a very specific reason. Famously, Zhou Enlai had a Buick and this marque was considered the most prestigious brand of automobile for decades, but unfortunately, GM missed this and introduced low-end, poor quality Buick vehicles into the market with this Brand and completely destroyed the brand image (albeit it worked well for a while as average Chinese families were wowed that THEY could drive a Buick). It then tried to introduce Cadillac, which in China had significantly less brand value. This was a huge mistake. I think westerners underestimate how powerful the Chinese government is in altering buying behaviour patterns. Using very subtle messaging, they can dramatically alter what Chinese people buy and as I write this it's becoming more and more apparent that the US is out of favour as they continue to bully China. As this video suggests, VW could survive, but I think the American companies are done and it was all self-inflicted. Joe Biden personally has to take some of the blame for this as does Donald Trump. The problem for these companies is that it's becoming ever more apparent that in order to compete globally, the product needs to be built in China, like Tesla is doing. So any tariffs put in place affect not only Chinese companies but also western companies that produce in China, hence the reason that VW and Mercedes-Benz are pushing back against EU tariffs.
Excellent points. I might add that certain models of Buicks in the past were actually reliable cars. Yes that unfortunately is not the case with other models or cars. The US really needs to get away from planned obsolescence, if we want to compete globally.
The exact same thing happened in Japan in the early 1900’s. Greed got the better of American industry then too. Eventually ending in a war. We only have the war part to go now.
The main difference between European and Asian companies and American companies is that the former aim to build better products, invest more in R&D, and focus on the long term, whereas American companies only think about the next fiscal quarter and how to appease their shareholders. Boeing gutted R&D, and its quality deteriorated over time, with bean counters from MBA programs heavily involved in management prioritizing short-term gains over the long term. It's crazy how Boeing went from one of the best companies in the aircraft industry to a company that cuts corners and endangers people due to its low-quality aircraft. The only aim of American companies is to see how to rip off customers the most. They cut down any form of competition in the USA to maintain dominance and artificially bump up the value of their products.
Boeing’s is sabotage at the greatest level. If you don’t see the writing on the wall, then look closely and clearly. EVs (exploding vehicles) and planes are being mass-produced to flood USA and other countries. Some folks are being bought off big, big time. The world takeover will not be militarily but every other means possible.
We Americans are done with American Automotive industry. Thats the reality of 50% of population of American Society. I cant afford 50000$ Hybrid Cars. And 60000$ EV Cars. I don't want to be in debt for my whole Freaking Life. Thats the Reality.
I watched a report that the price of Toyota Corolla is around $12,500 in China. It's $25,000 in US. If the Chinese cars are allowed to enter US market with no hefty duty, the inflation will go down fast. However, whoever wants to do it may lose the election.
The only way Chinese EVs will be allowed here is when they set up plants here to pay Americans well and vehicles prices will all be the same to that American workers will be paid American wages, 401k, etc. We have and must protect ourselves. Life comes with increases in everything overtime. You want to pay $1,000 for a car now like in the 50’s? Not going to happen. With all the advances: power steering, warm steering, cool/hot seats, gps, etc., you name it. The “high” prices of vehicles now here are just natural. Also, R&D to make these advances possible costs lots of $$$!
My friend and I both bought a Ford SUV before, and the monthly fuel cost is 2000 yuan. Last year, my friend bought a BYD electric car, and there was no electricity bill, only 200 yuan. I will also replace my Ford SUV soon. Looking forward to it!
WELL if you watch closely many of the footage used in this video supposed to show the cutting edge technologies in China are from decades ago😂 The peoples clothes and the factory layout haha
Chinese cars are good and cheap. While I was in South Africa, my cousins drove brands I had never heard of like Haval. They were really nice! I’d buy one if they were available in the US.
Tesla was rescued by China when they built their Shanghai factory and was able to launch the new Model 3 car to the market, just 10 months after the Shanghai factory started to build. This is a miracle and it can only happen in China.
Tesla has been successful in China and the world, and China government even changed the regulation twice just for Tesla alone, first, they allowed Tesla to own the factory 100% as the first foreign automaker to fully own the factory in China without joint-venture; second, they allowed Tesla to transfer back the road data to US data center to train for autonomous driving, after the sensitive information has been filtered out. This is a liberation to the economy and China is much more open than US. on the other side, US government is threatening to add 100% tariffs on any cars build by China, and even could apply to cars that China auto makers build in Mexico. American Automakers can win, if they have the technology and efficiency and the right method is to build the cars in China, and then sell back to US.
As a Chinese who loves my country, this unbiased, objective report on Chinese EV industry from an American media is hardly seen in these years. And it resurges my respect for American journalism.
@@iqbang9236i’m not exactly encouraging the media, but encouraging the audience. to show them that as Chinese, we DONNOT hate western media, but we hate biased, truth-twisting media.
Dont let a few Sprinkle of 'fair' reporting trick ppl to give over any respect or trust. Thats how some cunning manulpators try to keep tricking people, like using trojan horses, to make people let their guard down. Always expose and call out any dirty Lies and Projections from MSM
My family used to love American cars. My very first car was a Oldsmobile Cutlass Ciera, my dad drove a Cadillac Fleetwood Brougham d'elegance, and my wife first car was a Dodge Neon sports. And we bought them brand new. However, the quality were so crappy that the cars literally fell apart in about 3 years.
Meanwhile, CATL (the biggest EV battery maker in the world, and Chinese) is talking about offering a battery warranty of 1.5 million kilometers (932 thousand miles) for its newer battery models.
@@FabioCapela chinese warranty is not worth the paper it is written on. Just look at how the Chinese ppl are killed and upset with the garbage quality of Chinese cars. The airbags don't even go off. That happens outside China the Chinese will be sued and go bankrupt paying out lawsuits
They're planned obsolescence. The "trickle down" mafia run corporations hire engineers not to make them the best they can be but to deliberately "engineer" them to fail at 100,000 miles so you're forced to buy another. All while charging you 50K or even 100K. This is a big problem with the way the "trickle down" mafia runs everything in the US, FAKE "markets." FAKE "markets" cannot compete globally. Notice Toyota competes globally because they don't do this planned obsolescence. People aren't totally stupid especially around the world as a whole.
I am 68. My last American car was a 1993 Ford Explorer. It was built on a truck chassis. And it drove like a truck. My wife refused to drive it. We traded it in for the Cash for Clunkers program. Purchased a brand new 2009 Honda CRV. I have not purchased an American car since. My girl just purchased a 2021 Tesla Model 3 brand new in 2021. We still have her 1997 Honda Accord 200K miles. My 2009 Honda Crv 196K miles and my 2019 Honda Ridgeline 45k miles. The Ridgeline has had several recalls. I am done with the newer Honda vehicles. They are not built with the same quality as they use to be.
and every congress person wants to be a billionaire, and work for themselves instead of the folks who put them in office. not for the good of the country but outside interest.
In India, American companies in the early naughts were selling cars at a fraction of the American sale price - the implication being they were over-inflating prices in rich countries. Then as India grew richer, so did the price. This "price gouging" worked as long as local companies offered inferior cars (even at cheaper prices). Once the technological gap narrowed, there was no reason to buy these cars at their over-inflated price points.
The Big Three in the USA quit innovating. They decided to subcontract, and let others be their parts suppliers. The bidding process left little to negotiate. They wanted OEMs to produce, not build better parts. They relied on their past achievement, building big cars and trucks with high profits. Left the affordable vehicle market to foreign corporations. The foreign corporations innovated to produce high-quality, affordable vehicles, to dominate the US market with unit sales. The huge profits were repatriated to their home countries. MBAs in US elite universities were taught financial management but did not learn how to manage a workforce, nor the engineering skills to be leaders in manufacturing.
Unbiased European here. The US may no longer be the world's #1 vehicle producer but it sure as hell leads where it counts; Oil and refined fuel products. Food production. Aerospace. Medical and pharmaceuticals/biotechnology. Global finance. Computers and microprocessors. Industrial products and heavy machinery. Higher education and others. Not only is the United States a superpower, it is indeed the world's sole "hyper-power" who's influence reaches nearly every nation on Earth.
@@badactor3440The Wumao's might not like to hear that but you are spot on! China may make a handy and inexpensive EV but it is nowhere near as innovative and advanced as the United States in almost every other field.
@@badactor3440 and a unbiased Asian here that isnt from Mainland china. All that u state are slowly being eroded away from America. Give it some time. It has been happening unless the US industry bucks up they will fall behind overtime.
If Chinese only buys Chinese brands China wouldn't have became VW and GM's largest revenue source for all those years. Chinese buys the best cars, and right now the best cars are China, it's that simple. It's only Americans, and only some Americans who'd pay extra for American made trash.
Except the Chinese consumers actively chose to pay more for foreign brands such as VW, Buick, and even Japanese brands such as Toyota and Honda for DECADES. Why are they just now switching to Chinese brands. Nationalism might play a part, sure, but the fact of the matter is Chinese brands are simply just as good, if not better, than western brands, and on the EV side, they are easily better.
It is not true . In fact Chinese Market is OPEN to all international brand . Many brands including local brand faded out because of fierce competition , lack of performance , not because they are from oversea brand .
As a Chinese, I'm also doubt about the EV cars, but more and more friends buy them and I have tried driving several times, it's quite, more space inside, More comfortable, More function, and more....Beautiful...So I will buy a EV car in next year
bring it on China! this is what the USA wants! we need more innovation and cheaper more affordable vehicles the consumer stands to benefit greatly from this WORK HARDER AMERICA! we have to keep up with China if we want to remain the #1 superpower not only in military butt in the open market as well... so yeah as an American I'm happy because the Chinese and the American people all stand to benefit greatly from real competition!
@@danielzhang1916 They can do that but it will cost them most of their exports. If EU carmakers can't compete with the Chinese ones even when they have the homefield advantage (much smaller transport costs, the buy local sentiment), then they haven't got even a shred of hope of competing with the Chinese elsewhere. And losing their export market would be a very heavy blow for EU carmakers even if they get to keep local sales.
Meanwhile, the best paid BYD executive earns less than 1/20 of what the GM CEO does. Less money wasted on executives, more money for things like R&D and expansion.
When the top is corrupt, it's just a matter of time before its values trickle down the system. And this isn't only concerning the Detroit big 3 but the country's (eg: US) values as a whole. This is why US is failing in real time for the world to see with its own two eyes. You can try to deceive your people, but it's only a matter of time before the dirty tricks get exposed because people aren't as stupid and easily controlled, thanks to the transparency of the internet.
@sandponics Nope. They are managing to make a profit on a $10K car, and are doing that and increasing revenues and profits year-over-year even while executing a pretty aggressive expansion plan that should see multiple factories starting production around the world in the next few years; Brazil's is starting production before the end of the year, for example. There are even initial plans for a factory in Mexico to guarantee no US-made car, not even regular gasoline models, will be able to compete on price in Mexico with Mexico-made BYD EVs. Looks pretty impressive to me. At this rate BYD will soon surpass Ford on global volumes - if it hasn't already - and should be on track to challenge GM, and perhaps even VW, before the end of the decade. Incidentally, here in Brazil BYD is already selling some 8x more than Ford (though, to be fair, Ford gave up on local production some time ago - BYD even took over Ford's old factory - and only imports cars). And that isn't just EVs, but rather total cars.
we live in the luxury generation where we're all entitled to luxury even if we can't afford it. I think you can blame a lot of that on how easily accessible credits/loans are compared to the baby boomer's generation.
Generally speaking, Ford, GM, etc. are all vanilla automakers with no moat, USP, value proposition or desirability. Unless you live in a tariff protected auto market like the US, there’s really no reason for the average consumer to consider these brands.
American automakers are failing in
America. Why would they do any better in other countries?
well, anti Murica sentiments are raising in China. Its because you created the hatred. Many Chinese are stopping to buy Murican brands.
amen
Garbage brands like Ford were making profit in China simply because Chinese people held the belief that anything American is better quality. Not anymore.
Ford still has a strong presence in Europe, GM so-so. Sadly the traditional big three from Detroit have been playing catch up in terms of quality and innovation against both European and Asian brands for decades now and just can't seem to make any headway at all. So it's not all that surprising that Chinese manufacturers are not only gaining headway, but are fast becoming on par with their Japanese and Korean counter-parts.
Jeremy Clarkson and James May of Top Gear & Grand Tour fame did a peioe on China's auto industry in 2012, they noted that the Chinese makers had gone from making what was basically a motorized three wheel tut-tut to somewhat decent knock off of European models who's quality at the time was close to but not quite there to European makers, but opined that if they had done that in less then 10 or so years, where would they be in ten years time? I think we now have our answer to that question.
Yeah, China knows how weak our manufacturing is which is why they are willing to confront the US in a war, the US simply doesn't make anything anymore.
I'm still trying to figure out why a GM/Ford truck is charging $80K for a stupid truck.
You have no competition. But in eu no one wants to buy pick up's. We use van for work and normal hatchbacks and suv's everyday use
you need to have heart to heart conversation with GM/Ford salesperson so they can convey the value of their cars. Just don't drink cool aid before you go there
@@godzillamothra5983ah yes, the most reliable and trustworthy people, Car salesmen…
Because most truck drivers don't really use their trucks for what they're for. It's basically the hick version of Rolexes and Hermes bags.
Trucks aren't that much unless youre getting the top trim and powertrain
Nobody complain when European American Japanese cars flooded the Chinese market during the past 30 years . Now European American Japanese started blaming China of overcapacity of cars😮
A hypocrite will always has something to blame when a competitor rise
Chinese cars or trucks are not even sold in the U.S. because chinese brands do not meet the safety standards in the U.S.
@@rawwhide Actually, not safety problem but only political problem. Now EU allows BYD to get into the markete, i don't think American standards would be better than EU in safety.
@@rawwhide denial is being your life standard
@@rawwhide, what a joke, American standard, there was not now,look around though it's hard to admit
I live in China for 14 years and still drive my Mazda 2 (assembled in China). My next car will be a Chinese EV for sure 😎
Same car for 14 years? 🤔
Just curious to know how many more years do you plan to drive this car.
@@ChinaSongsCollection It's called quality. If you build a quality car, you don't have to replace it every 15 minutes.
The AVERAGE age of a car in the US is 12.6 years. 14 years is not even slightly surprising. There are Model T Fords that are OVER A CENTURY OLD and still run just fine.
@@ChinaSongsCollection ---- I owned a Mazda MPV for 18 years --- a gas guzzler!
@@robotnoir5299 Ok, fair enough.
But this is all going to change very soon.
Cars have advanced in their evolution. They now belong to items of the high tech category. Not too different from your computer at home.
You won't want to use the same car for 14 years the same way you won't want to use the same computer for 14 years. It has nothing to do with quality.
@@ChinaSongsCollection I still been driven my 2005 Honda Accord for 19 years now lol...I can't believe it went that fast.
We don't even buy American made cars here in the US. Why would the Chinese buy America cars when Chinese cars are cheaper and better these days.
Better? They may be cheaper, but don't get ahead of yourself, it's still Chinese.
US products are considered of low quality across the globe, including air crafts and cars. @@themightybunbun3613
@@themightybunbun3613 come to china and drive a chinese car,u can get the answer
Cheaper but not better, atrocious safety
@@themightybunbun3613 you can only afford what your importer thinks you can..... if you can only buy cheap things which means you're not rich enough to buy better quality ones
Just 20 years ago, people thought China can only copy and replicate but not innovate. 20 years later, nearly every sector is being challenged or surpassed by China. Those who doubt the Chinese, don't really understand China. They have the scale, work ethic, and the brains to take the lead in nearly every industry. It's just a matter of time.
theyre like a hivemind
Space travel is a prime example
@@Numb_ the entire internet is a hivemind
Stealing tech, not investing in r&d, exploiting employees harder than any other countries, ignoring all environment or other laws in production, no wonder the costs are low
@@Numb_ That's a good thing tho LoL
Chinese automakers received $27 billion in subsidies to produce better vehicles, while General Motors and Chrysler received a $80 billion US bailout under the Troubled Asset Relief Program (TARP) to avoid bankruptcy.
Union vs no union
The big three will be right back at the trough by the end of the year begging for another bail out, and they will get another bag of tax dollars to squander.
@@Keyit0😂😂😂😂😂
German carmakers are successful in China.
they were. not now. chinese market is so competitive. margins are so low.
I am.in Algeria. I bought a chinese car and very happy with my purchase. No.more western junk
Is it true? Was she only 9 years old?
@@thusspokezarathustra1847 is it true, was jesus the son of satan ?
@@thusspokezarathustra1847 is it true that half people in the west are born out of wedlock and half of your woman slept with at least 10 men.in their life time ?
@@thusspokezarathustra1847 Christianity is dead. The west is dead. Arab and Muslim countries are prospering and i d rather give my money to the chinese than Christian and western enemies
@@thusspokezarathustra1847 is it true that indian swim with rodents just to get blessings?
Ever notice how the media, when talking about "state support" in China will show pictures of police, for no real reason at all, but when talking about the same thing in the west will show video of hospitals and factories? Like, what exactly do Chinese cops have to do with government investment?
It's call background propaganda 😆
So true. We have to constantly demonize China, just like Russia. The MIC controls our government and they demand constant conflict.
police state, evil state.
In China, soldiers are people who can be trusted unconditionally, and then the police. It's a pity that people in Europe and America can't understand this feeling.
They can't handle the truth
If not for the high tariff and protectionism, American automakers would fail in the US as well lol.
How dare you call it protectionism its called American free trade.
It's true for many industries. America would shut down tomorrow if all the subsidies to the oil and food industry ends tomorrow. The thin veil of capitalism.
Well, all countries do this. If not for the high subsidies the Chinese government gives to EV's companies, they would all actually be bankrupt right now and fail domestically... in China.
Chinese EV's are currently selling for about 1~2% profit domestically, and that's with the subsidies. Imagine if it's gone. They would not be able to survive their current price war domestically.
Its also the reason why they are dumping so many in the international market, because the domestic Chinese market has basically reached saturation with the current economic conditions, so in order to keep up GDP values and their margin thin profit, they need to literally pump and dump internationally.
All countries do this to protect domestic companies, not just the US. I'm pretty sure every single country has tariffs on foreign cars.
when is China going to allow foreign battery makers to compete in China's EV market?
@@rebeltheharem70281. Chinese has already stopped subsidies for two years 😂 2. The subsidies did not differentiate brands, which means Tesla BMW or any other foreign brands producing EV received the subsidies as well,so it was a fair game
The trade war initiated by Trump in 2018 changed Chinese people's attitude towards American brands.
And Biden doubled down
Biden’s trade deals have been genius! He has made us all so wealthy during his term I can’t wait to vote him in for a second term!
That's not totally true, iphone and tesla still quite popular now
@@johnwhoo6194have you seen the iPhone sales number in China?
@@johnwhoo6194cause the US took out Apples biggest competitor, Huawei.
As a foreigner living in China , I have been driving a Chinese car, the Lynk & Co 06, for four years without any major problems. I can confidently say that the quality of Chinese cars is continuously improving. This progress is evident in their collaborations with major international brands such as BMW , Mercedes-Benz and more…
If you build a car or truck with a sewing machine for a motor and a pepsi can for a body,then make that auto un serviceable or expensive to repair, while you competitors are doing the opposite ,you can't fool the people forever, sales will eventually drop 👇 PS don't forget to change the style every other year and discontinue parts after 5 years ,to make them completely unaffordable
Just googled the said models you use for your daily commute, sleek looking nifty little SUV, with hints of the Porsche cayenne, but a fraction of the price and 4 year guaranteed service, i want one shipped to Nairobi, Kenya.
Very interesting, I have a Linkco 06 too. It's not a mainstream car here.No issues for 3years. I used to have Honda accord, Skoda Supber, Kia Sportage,Toyota Highlander, BMW 5 and AUDI Q7.Now I mainly drive LI L9, may buy another LinkCo or other Chinese EV in next 1-2years.
@@raymondwang5229 L9 ！！ a comfortable car
a nieghbor of my got a lynk & Co car looks beautiful.
China invested in its own development only a fraction of what US did on sparking wars in Middle East. And that brought outsized results to China.
Imagine what the US would look like if it spent on its own people instead of creating human devastation.
Don't buy Chinese made products. Buy USA products or products from our allies .
@@marktuyet The Iphone in your hands was manufactured in China. Do any of your allies produce phones?
I wish it were that simple.
@@jbcom2416manufactured in china but every part is from America(aside from rare earths, even the batteries are assembled in America and shipped to china for assembly), Chinese products are notoriously shotty these days. Manufacturing in China isn't as cheap as it used to be 30 years ago their economy is the 2nd largest in the world, so now to reach quotas certain manufactures use cheaper materials ultimately creating inferior products.
@@marktuyetWhy would I give money to genocidal psychos? No way I’m giving my money to US allies.
Did I just watch a factual, well-researched piece of American journalism on China?!??! Surprised AF.
You only saw half the story, Tesla is the other half, this piece glossed over Teslas ability to compete . This piece has a interview with a analyst who says the Chinese auto makers will soon know everything Tesla does and Tesla will go out of business- not at all, Tesla innovates constantly, the Chinese can copy but this constantly leaves them 1-3 years behind, the Chinese consumer knows this and loves Tesla.
It’s not.
Serpentza has a video of where the BYD sales numbers come from. Their exploding cars. If the Chinese prefer those options, then they should stick to their own cars.
@@shepherdsknoll Tesla innovates on occasion. They are still selling the Model S, a car that is now nearly 12 years old.
@@calimalu79cali11 Serpentza is not my idea of a source for well-researched industry statistics.
China invested in it self , American invested in Israel, Iraq , Libya , Syria , Afghanistan and now in ukrain .
And in children education. Educational system is completely different and very science focused, and very competitive also.
And now Afghanistan is already being free from the American invasion after the Afghan people kicked out the American army. This shows that no countries interested with the American hegemony anymore. 😁
America invested in the boards of directors! Not the normal people! Biden has finally figured that out! Look at what the GM CFO raked in these past few years while she was out saying they couldn't give workers more! Now that Joe is in union jobs are being created! Get the $$$$ back to the regular folks and not the richie riches! How about Local 58 Detroit Electrical Workers Union! My ole man made a great living working that trade, right out of WW2!
Excellent point
🤣
Imagine being a boxer and the other fighter starts screaming at you for your punches being 'over capacity'😂
😂😂😂😂
It's like Chinese doping in the Olympics.
@@tooltalk Yes, purple face.
It’s because the so-called western free market is even more heavily controlled than China’s market. Protectionism and dumping of cheap goods in developing nations.
Obviously, American companies prefer to use their funds to buy back shares rather than invest them in innovation.
Greed is not always good.
Us government restricts innovation.
In China , innovation = IP theft.
@@jackcarterog001 Not just government, no. Companies like Apple and Tesla actively lobby Congress so that innovative products and companies from China and elsewhere can't access the US market. Because it would signify the end of days for them.
@@jackcarterog001 May as well say regulatory capture restricts innovation.
US government has strangled companies to such an extent its probably too expensive and risky to attempt to innovate
The US car manufacturing industry is suffering the same problem as Boeing. The "greed is good" mentality of the 1980's led to bean counters from the MBA programs dominating management and insisting on short term gain over quality, safety and the long-term viability of the firms. 🤔
This is what I tell people. Our entire system has been corrupted with short term thinking
they need to get it together, the status quo has changed, China isn't going to wait for them
One of the reasons China fares better is that executive compensation and dividends are quite lower as a percentage of revenues for Chinese firms. Less money siphoned out to already rich people, more money for expansion, R&D, lowering prices, etc.
More so for state-owned firms. Executive pay at state-owned Chinese firms seems to be capped at less than 10x what the average employee earns, which is a tiny fraction of what CEOs earn in most developed countries.
Yep started in the 60's but hit its peak in the 80's and 90's. They thought they could keep profiting off of malaise era cars, then wondered why no body was buying their cars as their traditional customers were heading into nursing homes and the Japanese got really good at making durable economy cars that people actually wanted, same with the Koreans in the 00's to the point where they took a huge chunk of the eco market from names like Mazda, Mitsubishi, Nissan and even Honda to an extent.
Bot
if americans themselves have enough with american cars, why expect foreigners to love american cars?
Toyota is already great and will forcever be great
If you want a big vehicle which most Americans do purchase than American automakers are a great choice.
The problem is that American automakers are no longer cost competitive a nice truck is 80K USD which is just out of reach for most Americans
It's not only American cars, it's with much more American products and companies...
In the past 20 years, GM sells more cars in China than in US.
@@dennisp8520 If you want a big vehicle a toyota hilux is an even better choice but you won't see those because the US government doesn't like the free market.
In year 2000, Japan exported 4.82 million cars globally while China exported 17 thousand.
In 2010, it's 4.93 million vs 540,000.
In 2022, it's 3.5 million vs 3.11 million.
In 2023, China overtook Japan's 4.42 million exports with 4.91 million and became the largest car exporter by number.
It's not just the US.
Misleading numbers without breaking out how many of the Chinese exports are actually foreign brands made in China.
Probably you're cheap, that's why you get the cheaper one.
US sabotaj Japanese economy when Japan's economy seems to overtake US which results both going into the abyss
Cheap is defeat.
@@octonoozle can't complain when you cheap a$$ punc ain't got no $ for decent cars
I gave up on American automakers 20 years ago....
So did I but thirty. I. Just maybe, the Chinese will give up on theirs .Gonna be fun to watch! All good!
Flying Car is available and certified in China this year, all systems go for consumer market.
Detroit big three don‘t have to worry about Electric battery anymore, but start thinking how to "Fly". 😂
@@merrick6484 flying cars are available in the US too, they're called helicopters
My family switched to Toyota in 1998 and never looked back
Same, and that goes for everyone of my friends and family, they have only bought Japanese for the last 15-20 years.
I live in Uzbekistan, here GM has joint venture as well, and they agreed with government to set up so much protected monopoly market of GM. Ordinary people of Uzbekistan has been suffering from this GM monopoly. Because we don't have any other choice than buying the crap expensive GM cars. Shame on you GM. American companies are not playing fair, they bribe Uzbekistan government to facilitate the Full monopoly of GM.
They do the same in many other countries, if the government doesn’t agree, they will threaten for a regime change …
😂 sorry to hear that
Bicycles And rickshaws for you.
When China electric vehicles are exported to Uzbekistan, everything is gonna be changed.
Good. Know your place.
I want Chinese vehicles in US without terrific. I don't want to pay current crazy prices in US.
US cars are not preferred by most people outside of the US. For ICE cars, most prefer Japanese, Koreans, Germans, Europeans and Chinese.
Tell that to Europe then, who propelled Tesla to the best sold vehicle in 2023.
@@Garywhitetrumphobgobbler to be fair Budweiser is disgusting. Sam Adams Is better
Fun fact : i went to a Less Touristy Place in China called Yunnan, the beer at the Bars there were selling Buds as Imported Fancy Beer.@@Joseph-ub5wh
@@lostwax8151 Tesla is EVs, not ICE cars and Tesla will very soon face very serious headwinds and competition from Chinese EVs.
@@lostwax8151ah yes Tesla the famous ICE vehicle seller...
As a moroccan who's done with crappy european cars they export to Africa, I'd buy a chinese car in a heart beat
Don't. Think of your family!
@@tek87 check french cars tests man.. they are embarrassing. Ford isn't any better.
As a fellow African (South African), I agree with you. I'm glad much of our continent has a good relationship with China. The Chinese cars we have here are just so good compared to the European ones. Safer, more reliable, just as luxurious, better tech, more affordable... it's really a no-brainer in this day and age.
@@TD1237 Hello Chinese bot
@@TD1237 You know what is the biggest surprise and the proof that crappy France cars are scared of Chinese cars!
Just last year, Morocco have signed a BIG contract for China to start establishing a mega EVs manufacturing company in Morocco to start exporting to Africa with ease...
However, to our surprise just last month, it was announced that Morocco have retreated from the agreement under France's Pressure since they are the biggest cars manufacturers in Morocco .
But times are changing and hopefully we will have Chinese cars made here soon.
The pattern was clear years ago. When I was working in China in the late 1980s, I remember how foreign companies were falling over themselves to get into the local market. They could operate tax-free (as I recall anyway) for five years but the proviso was they had to teach the Chinese how to make product. The foreign companies made buckets of money. Then, the student surpassed the master. It was foretold.
中国需要西方的技术，西方需要中国的市场 👍
这很公平
西方企业垄断了整个市场，在那个时代，就像如果你会安装电梯，那你就拥有了几乎十亿消费者
当时我记得中国所有的电梯来自日本公司
Kind of scary,really. Now we in the US are forever the student looking to find a good job.
That's still worth it in my opinion.
I wish I could make buckets of money for 5 years tax free.
If I'm not mistaken, the land for the factories was also free for most of them.
In some cases, the local governments even paid for their electricity!!
Well, the foreign companies have not taught the essential part of the technology. When the santana model first introduced in China, all components were made in Germany, and the local Chinese firms only put them together. It is because the Chinese companies found that they learned exactly nothing seriously from foreign companies in legacy auto makers, that they began to invest in EVs
As a car enthusiast since 1992, I never thought I'd even consider a Chinese car.
Now, I look at Chinese car market everyday, and most of my favorite cars are Chinese brands! Just 5 years ago I had zero interest in Chinese cars!
My current favorite Chinese cars are: Hyper GT, Xiaomi SU7, Jiyue 07, MG Cyberster, iCAR V23, Landian E5, Jiyue 01, and Venucia VX6.
Ok wumao…we get it.
@@kaym7704lol，u are so pitiful😂
Curry ! 😂😂😂
Once the $10k BYD Seagull is international it's game over.
Then BYD will be banned. US is panicking
No, its not.People will buy once and they will never touch another ev.
US will tariff it lol
US car market is less than 13% of world car market. You can keep that for yourself. But you will lose every other market!
Except that the price will rise considerably. The 10k Seagull would never be allowed on our markets as it does not comply with our safety standards.
Take the Dacia Spring, a small, electric car that originated in China and has been on sale in Europe for a few years now. But the price difference between the Chinese and European version is enormous.
Title should be why American automakers are failing or failed all over the world.
Putting China in the headline might be mandatory to qualify for federal funding
China has finally ramped up enough that they can sell enough of their blatant copies.
The title should be why America insist on subsidizing an overcapacity in inferior obsolete manufacturing
It's like asking your kid why failing school , then comes up with the answer it's because of the others & the school's fault!
Because China is too competitive?
Let's be honest, Detroit build subpar cars, it's just facts.
No they don't
It's planned obsolescence to force you to buy another crappy car.
Facts. Big FACTS!
So why are you allowing your government to bail them out every time with your tax money?
Fake news, South korea and china are building the cheap junk.
The Video is correct. I was an Engineer at GM in the US in the 80s, went to Europe in the 80s-90s, and worked with Opel and mainly trained their Engineers on Tooling in Germany, and Spain. Worked in the 90s and 2000s in the US and Mexico doing the same. Then in 2003, I went to China to do the same. I helped to teach Chinese Engineers and Shops how to make high-quality tools for cars, after 10 years in China GM decided I was no longer required, so I was let go. No Job, No Money, My wife divorced me, the kids went on their way, out of college and I was left alone.😯
Hope you are doing ok now brother and I wish you peace and new purpose in life. I appreciate how you provided for your family all of those years, even if no one else does.
Sorry to hear that.
As a Chinese, I think American car brands have never been mainstream in the Chinese market. In the era of fuel vehicles, American cars have always been synonymous with high fuel consumption. Entering the new energy era, American car brands are lagging far behind.
Nahh. It just political emotion. But i dont blame it. I think Growing industry in developing country need it
They are not made for Chinese 😂 …
Aren't there a good amount of people in China that are financially well off and can afford to pay more for gas?...I'd love to visit China if relations between China and the US was better. I'm curious of the new cities and ghost cities.
@@filippocorti6760 Fuel economy is an important reference indicator for Chinese consumers when purchasing gasoline vehicles.
Firstly, China is still a developing country with a per capita GDP less than one-sixth of that of the US, and more than 600 million people earn less than 140 USD per month. Due to the significant wealth gap, a small portion of the population is very wealthy, but the majority do not have strong economic power.
Secondly, many of the older generation in China lived through the era of massive scarcity and hunger in the last century, especially during the 60s and the 70s. For them, and the generation educated by them, "frugality" remains a virtue recognized by mainstream society. Given a choice, many would opt for options that consume less.
Lastly, China's rapid development has been built, to a certain extent, on the hard work and sacrifices of its people. Many are burdened with mortgages and car loans, and need to support the elderly and raise children. These individuals are the main demographic for car purchases. For them, choosing vehicles with better fuel economy is a natural choice.
Welcome to China! Well, under propaganda of conflict between China and US, many Chinese may have preconceived notions about America, but I'd say overall, Chinese people are friendly to people from other countries. Cities like Shanghai, as well as the new cities and ghost cities, are actually located in some of the more economically developed provinces of China, where you should be able to have a good travel experience.
@@filippocorti6760I think it’s just because the base number is big. On the other hand the proportion of rich people are still small and the biggest consumer of vehicles are still middle class families
Instead of $600 billion being invested in infrastructure, over $1 trillion went into the pockets of 600 of the wealthiest families in the US.
And? Those 600 families run companies that provide jobs, goods, and services. The tax revenue their companies and workers generate will pay for those infrastructure improvements.
@@bwofficial1776 and chinese companies dont? LOL LOL LOL
And military industrial complex 😢
@@bwofficial1776 LOL no. Have you seen the job layoffs?
J🤭
An unbiased, factual report about China, wow, just wow. For once i have to praise CNBC for honest journalism
Thats because cnbc is a ccp lapdog. They have lots of china propoganda you've just not noticed it
Maybe bc it’s not even worth it, why waste time on a country that may not be one in 10 years
@@alexnowicki286you mean the US?
Buddy, if you are dismissing China you are 100% clueless.
You may never know unless you visit yourself. M I N D B L O W I N G
@@gordonthomson7533 why would I visit a country that won’t be one? I mean there are many reasons that will lead to their failure
@@alexnowicki286 your wilful ignorance is astounding.
Ok, we could delve into this if you’re up for it. Can you list one or more reasons they “won’t be a country” sometime soon?
As a Chinese, I think it is unfair to blame subsidies and unfair competition for the current situation in China's auto industry. Our family bought a Buick lacrosse in 2017. At that time, no one would buy a Chinese car. Even if they did, they would buy a low-end model under $15,000. At that time, Buick had hybrid and pure electric products in the Chinese market, but only a small number of two or three. Starting from 2020, people are surprised to find that the domestic car has become better, while the product power of the joint venture brand has stagnating, Buick still has only two or three new energy options, the price of their old products has dropped significantly, and their product line has become chaotic, expecting to fill the profit gap through the market positioning strategy: this is a sign of recession. While Chinese automakers can still update their product lines once a year, it is clear that these joint ventures have done too well in the past, when they could only take a few models from the global market and sell well in China. Now the good times are over.
This is by far the only reasonable/precise video describing China and the Us' automakers industry.
As a Chinese, My first car was a 2013 Ford Focus, maed in China. Apart from a few brake light bulbs and tire changes, it never had any issues and is still serving my father-in-law. The second one was a 2017 BMW X3, made in South Carolina, USA. I had to replace the turbocharger, transmission controller, and window glass motor. Now, I've ordered an ATIO M9 HEV and am awaiting delivery.
问界M9是吧😂
Mercedes Benz, or at least the ones made in the US, are even more trouble than BMW...I'd like to drive a Chinese car to see what it is like. Also, a Russian Lada.
😂😂😂
我也是，13款经典福克斯真的很不错！
福克斯的确属于卖爆了
Fair report. Unlike American politicians' rhetoric saying "oh Chinese you have over capacity"... buried your heads in the sand.
My first car is GWM Haval Jolion ... quality is beyond expectations. Now my friends want to buy these Chinese brands ... Western cars are losing attractiveness
The first time a CNBC report about China is balanced.
You were just biased before.
@@forbeginnersandbeyond6089 No you just have no🧠.
@@forbeginnersandbeyond6089CNBC is pretty China hawkish, bloomberg is more balanced.
Actually all CNBC videos favor china and bash usa
Not well researched though. They made a lot of basic errors like stating TikTok is a top social media platform in China (TikTok does not operate in China)
There are no Huawei phones in the United States, but Apple phones are everywhere in China. Who is the free market?
Point made
US has hypocritical policies that are primarily racist!
@@sarasumayya3839 Apple phones are literally Made in China... not like they import them.
Well Hawaii phones have spieware in it so there’s that
But I phones made in China...so....
First time I agree with a CNBC video on China
First video from CNBC that is based on facts😆
👍 A lesson for CNBC or any other mainstream media: people are not stupid. Biased or inaccurate reports will only harm their credibility. Knowing the truth is always the best regardless of your emotions or political stance.
I am a Chinese. I bought the Ford BRONCO. It is produced in Hangzhou and the city where I work. The factory here also produces engines and gearboxes for export to the United States. In fact, it is true that people around me have bought a lot of American fuel cars in the past few years, but American fuel trucks began to decline about four years ago. A big reason for this is the emergence of Tesla MODLE 3, and people around us began to buy Tesla in large quantities because the electricity bill is very low but the oil price is very high. It costs only $30 a month to recharge, but it costs $230to use gasoline. At that time, Chinese trams could not compete with Tesla. Three years ago, Chinese car brands developed many tram platforms. Now many brands SMART, Toyota's BZ3, BMW mini and Volvo are actually Chinese electric platforms. They have just changed their shells and LOGO. In fact, Americans don't have to worry about it at all, because most of the software in the car is American, including intelligent driving chips, many cars are LUINX, and the chips are Nvidia and Qualcomm. As far as I know, Chinese chips are only used in cars under $30, 000, and Tesla is still ahead of the market share in China. The problem is that without a second Tesla, many Detroit brands have become outdated and unenterprising. Many American politicians are unwilling to face this, creating a lot of ideas that China is a beast. Every time I watch American news, I think about it. Are there many Ford and JEEP in Europe and Japan? I hardly saw one when I went on a trip, but it can be seen everywhere on the streets of China. In the past, China did not have overcapacity to produce socks and Santa Claus, but now it is said that we have overcapacity to build car phones. When I was in high school, I had an American couple who taught me English, showed us American movies and played GTA and Blizzard games for us at school. At that time, I thought the United States was the most advanced and democratic country in the world, but now I think the United States is a domineering country, always irrationally demonizing us.
This is actually a pretty honest and informative post. A refreshing read. Totally different from the rest of WUMAO trash.
I would like to point out that, American news is mostly useless, especially when it comes from politicians. Most of our politicians are very low quality these days. Best not to judge us by the crappy news you read.
Americans generally don't conflate people with their governments like other cultures, so any demonizing you may feel is probably more directed toward the government than you. America has the highest number of Chinese people outside of China itself.
And the problems facing Tesla are numerous, but your point about the cost, do you know that if you buy a new Tesla in the US you get a federal credit of $7500? That means that whatever price you see Tesla selling for in the US means it actually cost $7500 because most of the time, the news is only going to publish the price after that credit. The fact that EVs still cost more than gasoline cars is bigger part of why Detroit is slower to compete with Tesla. That federal credit could go away with very little warning.
Even in Taiwan, We don't buy murikkkan cars, why on earth should mainlanders continue to buy muricas junks?! As a Taiwanese who also identifies myself as Chinese, I tend to buy merrikka brands as LESS as possible to show support for my fathers homeland, all mainlanders should the same when facing merikkkas bully
@@ivybae9906 他明显是比较慕洋的 为什么这么说 因为美国车除了特斯拉之外在大陆并不流行 买特斯拉之外的美国车在大陆也是小众行为
@Lee-fw3vq Shame on those who are still worshiping the United States of Snakes🐍 frm Both sides across the Taiwan strait. The best selling petrol cars here in Taiwan are Japanese, Korean and European, nobody wants to buy merican junkies even though our govt likes to lick the boots of Uncle Sam.🤧🤧🤧 Tesla Might be an exception due to the fact that competitive EV brands frm mainland China are either severely restricted Or directly banned by our govt. And we all know Tesla won't stand a chance of beating Chinese EV brands in Taiwan once BYD is allowed to sell their super affordable and competitive EVs here.
Second family car was a Ford Mondeo (version of Fusion sold in China), loved it from the very beginning, although it's more of a European car than a American car, had great memories in it. Then I came to the US and got a Ford Mustang V6, all great. Now I'm back in China driving a Volvo XC60 and contemplating on buying a Zeekr 001FR with Kimi Raikonnen mode.
Mondeo 本来是一辆很不错的车，有那么几年时间，在中国销量挺不错的，它的外观当时看起来很酷。但是突然间，就销声匿迹了，据说是因为质量问题。现在现在不管是日本车 韩国车 德国车 美国车 更别提法国车（存在感很低），都不行了，中国车彻底腾飞了
The irony of communism beating capitalism at capitalism.
China is a mix of both. Communism have nothing to do with the economy.
@@Mohammadkwt "Communism have nothing to do with the economy". Have you watched the video yet or are you a bot just randomly commenting nonsense ?
@@Mohammadkwt communism has everything to do with China's success. Although leadership stays the same for years and years, policies can be changed overnight to address imminent challenges, unlike in democratic countries where leadership changes every 4-5 years, yet policies take more years to be changed and adopted, despite the need, as law makers play dumb politics.
@@Mohammadkwt yeah, keep telling yourself that there sport.
China is not communist country , it simply is A communist party running a capitalist system
For regions like Hong Kong that do not produce EVs, we are delighted to import what are known as overcapacity EVs.
As for those regions producing EVs, you have two options: either increase your productivity or raise tariffs to protect your auto industry in the short term. However, in the long run, good luck to you.
The chickens have come home to roost for the short term focused American management.
Corporate Bonuses are paid out in the short term.
I mean just GM has been in China for over 25 years and were making upwards of 2 BILLION dollars PER YEAR just in profits. Multiply that by 10 for all the other major western carmakers who set up shop in China over the decades. That's a wealth transfer of literally hundreds of billions of dollars from Chinese consumers to all these companies. It's not like the Chinese got good at building cars for free here.
CEOs who made those decisions made a lot of money for their shareholders and are now enjoying retirement. No one cares what happens 30 years later.
I’m American and I’ve never bought an American car. I have however bought a lot of American aftermarket parts for my foreign cars because a lot of times they’re better/improved.
I think the quality at the price that American automotive manufacturers sell their cars for is ridiculous. There’s very few good “bang for the buck” American cars out there. I don’t even want to talk about trucks and the scalping Americans are doing to themselves in that segment.
A friend of mine who’s an auto engineer works for an auto part manufacturer in Windsor, Ontario here in Canada, told me never to buy American made vehicles as he sees the quality of auto parts declines and defect rates soar over recent years. It’s such an irony.
CHINA IS A FASCIST TOTALITARIAN EDUCATION REGIME ! THE MAIN ACTOR BEHIND THE RUSSIA WAR ! THE MAIN ACTOR BEHIND IRAN ! THE MAIN ACTOR BEHIND HISBOLAH HAMAS AND HUTHI ! thIS CHANEL SHOULD WAKE UP ! AND REPORT THE TRUTH !
American car manufacturers must control their car parts by manufacturing very competitive car parts in the US and not import the. Fro other countries with questionable qualities.
As a Chinese, I got my drive lisence In February of this year. My driving school instructors are brothers. The yonger one drove an EV, while the elder one criticized EV sharply and suggested us students not buying EV🤣
Everyone in this world can probably tell you that 'not to do/buy something', and you don't have to take every words seriously. Just as the saying goes: Don't listen to what people say; watch what they do.
US workers used to be above-average quality in the world. Now the work ethic is non-existent
@@eeb2831I firmly believe to stay away from made to break Chinese junk
Currently residing in China, I’ve observed a significant shift in automotive preferences among the locals. The majority are opting for more fuel-efficient, affordable, and reliable vehicles. Brands like BYD and Roway are leading the charge, crafting well-built cars that meet these demands. Tesla’s establishment of a Gigafactory in Shanghai has notably accelerated advancements in car battery technology and automation in electric vehicles (EVs). These EVs are not only fast and efficient but also perfectly suited to the urban lifestyle here, where cities are densely populated and everything is relatively close by. Unlike in the U.S., where long-distance travel demands more fuel consumption, the compact urban environments in China make EVs and smaller, efficient cars a practical choice. Moreover, the build quality and quality control of these vehicles are exceptional. Priced around US$10,000, these cars offer formidable build quality at a fraction of the cost of Japanese models, which, despite their fuel efficiency, often fall short in terms of handling and overall build. In contrast, American cars suffer from high import taxes and poor quality issues, making them less appealing here. It’s clear why these cost-effective, well-crafted local cars are becoming the preferred choice among Chinese consumers.
sure, oooomaoooo
BYD cars are also exploding randomly every day in China.
@@jackgaffney8468 Where is the proof?
@@jackgaffney8468 Most of them are PHEVs with small blade batteries.
@@jackgaffney8468bro stop lying i am in a Facebook group, there's people from UK, Europe, Australia, Brazil etc everyone is loving BYD cars, ain't nobody complaining about it.
They're even selling their combustion vehicles to buy a second even 3th EV
The US anti-China policy of "High Fence, Small garden" championed by Sullivan & Blinken will be wildly successful. The high fence will prevent China from importing its EV into the US market directly, but the US market will become the small garden that American car-makers are contained in. The rest of the world will be the playground for Chinese EV companies.
Americans will soon learn to buy good & cheaper EV Chinese cars.
.
Why would Americans be under the command of a Jewish person like Blinken
As an American Ford Fusion owner, I'm embarrassed by American car companies. Americans have treated the car industry like fast food. Low quality at high prices. America is getting what they deserve.
Really surprised by the fair reporting, considering China bashing is such a fashionable thing to do nowadays in the US.
Really funny to see all this videos about how China's economic is crushed to the ground dozen times for last half of a year already 😂
just how Russian economy is "teared to pieces" since Obama and yet outproducing NATO while keeping social spendings intact (like yeah okay Tucker ashames himself with video about Russian shop treating as innovations things that normal also for European shops if not American ones, but its not the point - point is Russian shops looks like decent European shops while Russia waging the most huge and expensive war of the century and producing shitton of weapons while West collecting scraps and gaslighting people into war mentality despite not formally being side of the war to prevent even more riots when social spending will be cut even more)
Look at brands like Nio and Byd, if you drive them and look at the inovation and price.
The western cars looks like old technology.
@TeeHee-vo1bn Tesla literally dont even make their own battery, so much for copycat lol
@TeeHee-vo1bn you just a dump Yankee as any CIA bot 🤣🤣
@@eternalobi Indeed. Outside the US, Tesla uses Chinese batteries from BYD and CATL.
@TeeHee-vo1bnhave you listened and followed Elon Musk, he said exactly opposite which totally disagrees with your opinion! Listen to all his speeches and interviews! He is one smart man! Yes, right, he is South African and Canadian! ❤️from🇨🇦. I have been following him and invested in his company when he was nobody! I trust his wisdom!
@TeeHee-vo1bn What a old way of thinking you have. You probably don't even know what Nio is LOL
simple: because the Chinese car makers make no excessive profit and is much more cost-efficient
That's very true. I bought a BYD car 3 years ago for 140k RMB (~20K usd) and it's still working perfectly. I think I would need to spend over 40k for the same quality if I chose Japanese or US brands...
It's the Competition. No companies in the world wouldn't want excessive profit.
You said 1000% right
it's not only cost efficient, BYD and other Chinese car companies do have very advanced techs for EVs
1 to 2 decades ago, US said that China's economy is very inefficient and productivity very low. Now it complains that China is too efficient and too productive thus causing over production and cheaper high techs which no other nations, including itself, can match ...... Thus must be sanctioned. Oh, the irony.
As a Chinese I am quite shocked to see this cuz I never think of America when talking about cars LOL.
13:45 It’s a bias that Chinese customers don’t like American cars. When I was in Shanghai, my first was a Chevr, and then a Buick. American cars still been chosen by a lot of people in China. Nowadays, the reason why GM sales declines is that the they can’t keep up with their Chinese peers. The hybrid cars(BYD Qin&Roewe D5X) in China with 10kwh battery cost less than 20k USD. Both of them have superior drive experience and big screen driver interface. In tech development road map point of view, the gas power reached its limitation, people need to consider the future tech trends.
Gimme a break. Even in Taiwan, We don't buy murikkkan cars, why on earth should mainlanders in china continue to buy murican junks?! As a Taiwanese who also identifies myself as Chinese, I tend to buy merrikka brands as LESS as possible to show my support for my fathers homeland, i suggest all mainlanders do the same.
@@ivybae9906 不用担心，现在大陆95后，尤其是00后，在购买汽车时，基本已经不考虑合资品牌了。只有愚蠢的60后、70后和少部分80初的人，还在顽固的迷信外国货。然而这些人显然阻挡不了大趋势。
@@ivybae9906 Taiwan and Hong Kong = China. Future Tawain SAR like Hong Kong!!!!
I live in china and owns a chinese car XPeng. stepping into a foreign car is like stepping into the 20th century. makes me feel old and irrelevant.
Is nio going to make it?
Putting aside the aesthetics that are specific to Chinese, what exactly is new in your car? What technologies? Any breakthroughs or just rewrapped western technologies?
try and see by yourself, trust me, you will be shocked that even tesla might not be competitive@@pectusin
@@wadechew5440 pls no general words, give me concrete examples.
@@pectusin Its a crocker easy bake oven from the 60's
Dammmnn, investing 568billion on airport, railway infrastructure and future ev production. Now thats evil
While US is investing in military bases and war flames all over the world, caring nothing for its people!!!
less than that USA had put on wars
but no money in new power generation.
586B 😅 not 568B
thats nothing compare to what we put in the military. Rich country but 3rd world infrastructure.
When BYD produced a $10,000 car, I knew that the revolutionary era of Chinese automobiles had arrived.
Not just China. Whole of Asia. Hard to find anyone driving GM or Ford cars here
And middle east
Ford Rangers are pretty popular in Vietnam
@@johnnytran800won't be the same story in 10 years
@@johnnytran800 They were popular for a bit in South Africa, then the Hilux came and replaced them.
In Philippines the most best selling Pick Up truck is Toyota Hilux and Ford Rangers only comes second. This is only based on the opinions of those I have asked
The main problem of US companies is that they make every single decision thinking about the shareholders first; Boeing gutted research, development and equality control. Now the company is in a nose dive.
While everyone was researching 5G technology, AT&T and Verizon were ALSO gutting R&D in favour of purchasing stream services, media rights and giving higher bonuses to the CEO....
That's becoming a trend in every sector. Even tech companies started laying off massive amounts of employees while reporting record profits.
China has been prepared EV technology since 1990s. One of the top scientists of China (Qian Xuesen, one of the cofounders of NASA Jet Propulsion Laboratory) wrote a letter to the central government and suggest focus on EV technology in 1992. That's why Tesla can start using Chinese supply chain very quick after their Shanghai factory was built because everything was already there and just need to be polished by the market. There weren't too many patents registered in the 1990-2020 in the EV related industries, so Chinese companies don't need to spend extra money and time to find a way to avoid the existing patents like the ICE cars. Many electric related patents like the electric motors were already registered by Chinese electric parts companies originally for bullet trains or other industrial vehicles which can be bought easily with no competition situations.
China's plan was to steal Japanese/Korean battery technologies.
My BYD owner friend said that he chose BYD over Tesla because Tesla is very basic and3x the cost of BYD. As a buyer anyone will go for BYD and their features are always improving.
You know, I'm starting to think that the US is attempting to do what they do to South American countries and Middle Eastern ones when they aren't doing what's is expected from them.
Except, China is no small country that can be bullied into what the US says.
The Dominating Club of the world is called G7, keep all the global south countries poor, and supply cheap goods and raw materials and energy, and they stay on top of the food chain like a king. However this is changing because of China. We Chinese ppl never bow down to bullying imperialism, and we are well organized to work hard towards one goal, to make China great again like where she stood for 5000 years.
The playbook on Japan didn't work
Southamericans are perfectly capable of ruining themeselves with little foreing influenced.
The play book on Soviet Union during Cold War also has not worked out so far. China is no Japan, nor Soviet Union.
@@TuhunluunBionoid yes, didn't fully turn Russia into a meek vassal. I would credit strong leadership in Russia (after Boris...), Mostly Putin
China is going hard into renewables and EVs. The American Big 3 EV offerings are lukewarm at best, and Tesla is in chaos.
“Tesla is in chaos.” Thanks, I needed a good laugh.
The demand isn't there so let China keep producing products no one else wants to buy
@@REYfromTXChinese manufacturers refresh their cars every year. Buyers have a reason to replace regularly.
Tesla, every decade.
Tesla is in Chaos? Bwahahaha! In your dreams. Best sold car in 2023. And the most profitable large brand worldwide.
Tesla is trash. My brothers boss got one and it keeps having issues. He had it for a week before it started failing. Now it's in telsas shop and waiting who knows how long. he's debating getting a refund from the lemon law.
If the US doesn’t allow China cars being sold in the US then so does China don’t want American cars to be sold in China. The feeling is mutual, nothing personal just business decisions. If you don’t allow Huawei or other Chinese branded phones then they’ll also stop buying Apple iPhones and the list goes on and on. Chrysler, Ford and GM have the worst reliability among European, Japan and Korean brands anyways.
Tesla, Apple etc were popular in China. American brands were never banned in China, at least at government level. While the Chinese government has expressed their anger towards US sanctions against China, they welcome all American businesses. This promoted investment and healthy competition.
@@boli1435 literally no, all non-chinese information tech companies are banned in China. So much for your silly competition argument.
that would be fine if chinas market wasn’t 4x that of the US.
@@boli1435 Western car manufacturers could only sell and produce their cars in China if they joined forces with Chinese companies and taught them how to make better cars. This is not a real competition.
@@maximusasauluk7359 Amazon is not banned in China, they are just extremely uncompetitive compared to local brands.
The Chinese automotive market has matured significantly, with consumers becoming increasingly knowledgeable about cars. Many have already purchased well-known brands and have a clear understanding of their needs. This consumer sophistication is complemented by widespread automotive knowledge and the rapid introduction of new vehicles featuring advanced technologies and autonomous driving. Consequently, foreign and imported cars are struggling to keep pace with the competition, as domestic manufacturers continue to innovate and meet the evolving preferences of Chinese consumers. This has intensified market competition and weakened the competitive edge of foreign brands.
American automakers care more about shareholders than about the consumer.
I think that’s the biggest mistake.
Worldwide automakers try to offer a good product while the american automakers whant to make it cheap and charge as much as possible.
Cheers from Portugal.
It's not just automakers. Take a look at Boeing and what is happening to it now.
I don’t see how American car manufacturers want to enter other countries while making it difficult for other car manufacturers to enter America (BYD) 100% tariff.
China needs to build their car factories here for a fair price competition.
@@maninscrubdallas8694 I am sure China will do that but the thing is it will become expensive if they manufacture in USA . Plus USA hates competition . Your billionaires will never like Chinese car manufacture to flourish . Think about it a billionaire will take dealership from China . Will buy cheap and will sell with high price . Why would they sacrifice the profit ? Capitalist don't care about citizens it's all about making money . They are doing the same thing almost every thing . They buy from China and sell in USA with high price .
@@maninscrubdallas8694 even with fair price competition Chinese car will be less expensive than USA car . Plus it's not about price , it's about the product . Even with same price range the Chinese will dominate the market because right now Chinese car manufacturers are producing better car than USA .
I find CNBC videos generally to be poorly researched and inaccurate. This was an exception. However, a few things that were missed. First of all, Buick was successful in China (and not Cadillac) for a very specific reason. Famously, Zhou Enlai had a Buick and this marque was considered the most prestigious brand of automobile for decades, but unfortunately, GM missed this and introduced low-end, poor quality Buick vehicles into the market with this Brand and completely destroyed the brand image (albeit it worked well for a while as average Chinese families were wowed that THEY could drive a Buick). It then tried to introduce Cadillac, which in China had significantly less brand value. This was a huge mistake.
I think westerners underestimate how powerful the Chinese government is in altering buying behaviour patterns. Using very subtle messaging, they can dramatically alter what Chinese people buy and as I write this it's becoming more and more apparent that the US is out of favour as they continue to bully China. As this video suggests, VW could survive, but I think the American companies are done and it was all self-inflicted. Joe Biden personally has to take some of the blame for this as does Donald Trump.
The problem for these companies is that it's becoming ever more apparent that in order to compete globally, the product needs to be built in China, like Tesla is doing. So any tariffs put in place affect not only Chinese companies but also western companies that produce in China, hence the reason that VW and Mercedes-Benz are pushing back against EU tariffs.
Excellent points. I might add that certain models of Buicks in the past were actually reliable cars. Yes that unfortunately is not the case with other models or cars. The US really needs to get away from planned obsolescence, if we want to compete globally.
Buick is famous in china, based on brand accepted in china, I thought it have chance to make money in china again
You're soo wong.
我在2018年买了别克，很好开我很满意，但是美国车4年后质量有问题，多数是小问题，比如后视镜折叠，显示屏等等，加上美国一直欺负中国打贸易战，所以我卖掉了我最心爱的别克，现在换成BYD，不用油我很满意。但是还是别克好开，可能是我选择
@@鸿科刘-o3y Engrish please
The exact same thing happened in Japan in the early 1900’s. Greed got the better of American industry then too. Eventually ending in a war. We only have the war part to go now.
Betting against the Chinese is a losing strategy. Buffet knew this all too well, so he invested in BYD as early as 2007.
sad but true, with 2 billion slaves and 0 environmental concerns
@@goodfodder 👈🧠💀
The main difference between European and Asian companies and American companies is that the former aim to build better products, invest more in R&D, and focus on the long term, whereas American companies only think about the next fiscal quarter and how to appease their shareholders. Boeing gutted R&D, and its quality deteriorated over time, with bean counters from MBA programs heavily involved in management prioritizing short-term gains over the long term. It's crazy how Boeing went from one of the best companies in the aircraft industry to a company that cuts corners and endangers people due to its low-quality aircraft. The only aim of American companies is to see how to rip off customers the most. They cut down any form of competition in the USA to maintain dominance and artificially bump up the value of their products.
Yet the US is an economic and military super power and Europe is basically nothing.
Boeing knew well they don't need to invest in R&D because they threw it to NASA. So the board there only focus on squeezing cost.
Boeing’s is sabotage at the greatest level. If you don’t see the writing on the wall, then look closely and clearly. EVs (exploding vehicles) and planes are being mass-produced to flood USA and other countries. Some folks are being bought off big, big time. The world takeover will not be militarily but every other means possible.
You are 200 percent correct about corporate America only thinking about the next fiscal quarter !!! The Chinese are going to eat their lunch now .
We Americans are done with American Automotive industry. Thats the reality of 50% of population of American Society. I cant afford 50000$ Hybrid Cars. And 60000$ EV Cars. I don't want to be in debt for my whole Freaking Life. Thats the Reality.
I watched a report that the price of Toyota Corolla is around $12,500 in China. It's $25,000 in US.
If the Chinese cars are allowed to enter US market with no hefty duty, the inflation will go down fast. However, whoever wants to do it may lose the election.
@@dennis007but then your unionized American workers will lose their jobs.
@@dennis007Corolla even at 125K is losing share rapidly, go check BYD DMI 5, new hybrid tech released few days ago.
The only way Chinese EVs will be allowed here is when they set up plants here to pay Americans well and vehicles prices will all be the same to that American workers will be paid American wages, 401k, etc. We have and must protect ourselves. Life comes with increases in everything overtime. You want to pay $1,000 for a car now like in the 50’s? Not going to happen. With all the advances: power steering, warm steering, cool/hot seats, gps, etc., you name it. The “high” prices of vehicles now here are just natural. Also, R&D to make these advances possible costs lots of $$$!
@@maninscrubdallas8694 That's what Trump said, welcome Chinese EV only they build factories in US. I think it's gonna work for both China and US.
My friend and I both bought a Ford SUV before, and the monthly fuel cost is 2000 yuan. Last year, my friend bought a BYD electric car, and there was no electricity bill, only 200 yuan. I will also replace my Ford SUV soon. Looking forward to it!
Where do you charge it?
What is also not mentioned here is the vast number of engineers that china is and has been educating.
while most other children polled in US wants to be a UA-camr/influencer(without effort) or TikToker (TikTok banned likely cos of Israel Genocide)...
Who know what a woman is
Therefore, in china, the salary of engineers is generally very low, unfortunately I am one of them😂😂😂
Rarely a fair report without political bias, way to go CNBC
This coverage was good and fair.
WELL if you watch closely many of the footage used in this video supposed to show the cutting edge technologies in China are from decades ago😂 The peoples clothes and the factory layout haha
CNBC good
They showed wrong map of china
Chinese cars are good and cheap. While I was in South Africa, my cousins drove brands I had never heard of like Haval. They were really nice! I’d buy one if they were available in the US.
South Africa is part of BRICS and has lots of Chinese brands, Haval is one of the most popular but they're so many here very affordable beautiful
Haval had already made a good reputation for itself within China a few years ago, but it was a bit overlooked after the EV boom
Tesla was rescued by China when they built their Shanghai factory and was able to launch the new Model 3 car to the market, just 10 months after the Shanghai factory started to build. This is a miracle and it can only happen in China.
Tesla has been successful in China and the world, and China government even changed the regulation twice just for Tesla alone, first, they allowed Tesla to own the factory 100% as the first foreign automaker to fully own the factory in China without joint-venture; second, they allowed Tesla to transfer back the road data to US data center to train for autonomous driving, after the sensitive information has been filtered out. This is a liberation to the economy and China is much more open than US. on the other side, US government is threatening to add 100% tariffs on any cars build by China, and even could apply to cars that China auto makers build in Mexico.
American Automakers can win, if they have the technology and efficiency and the right method is to build the cars in China, and then sell back to US.
As a Chinese who loves my country, this unbiased, objective report on Chinese EV industry from an American media is hardly seen in these years. And it resurges my respect for American journalism.
这么说吧，客观公正是因为它真的打不过了而不得不客观，主观比较起来美国汽车在本国都不占优势……
舔的好。。一篇报道就又有好感了？钢针，里面很多的视频片段本来是要展示现代化技术的片段，用的还是上世纪片段。太拿衣服了你
@@michaelz5497 He's merely encouraging the media to report China fairly in the future. Agree that is naive.
@@iqbang9236i’m not exactly encouraging the media, but encouraging the audience. to show them that as Chinese, we DONNOT hate western media, but we hate biased, truth-twisting media.
Dont let a few Sprinkle of 'fair' reporting trick ppl to give over any respect or trust. Thats how some cunning manulpators try to keep tricking people, like using trojan horses, to make people let their guard down. Always expose and call out any dirty Lies and Projections from MSM
My family used to love American cars. My very first car was a Oldsmobile Cutlass Ciera, my dad drove a Cadillac Fleetwood Brougham d'elegance, and my wife first car was a Dodge Neon sports. And we bought them brand new. However, the quality were so crappy that the cars literally fell apart in about 3 years.
bot
No way an Oldsmobile fell apart.
as an American i avoid American cars. i love them but i know they will fail me. they don't even last 100k
Meanwhile, CATL (the biggest EV battery maker in the world, and Chinese) is talking about offering a battery warranty of 1.5 million kilometers (932 thousand miles) for its newer battery models.
Why do you "love them" if they fail so quickly?
@@XDF745 some actually look good.
@@FabioCapela chinese warranty is not worth the paper it is written on. Just look at how the Chinese ppl are killed and upset with the garbage quality of Chinese cars. The airbags don't even go off. That happens outside China the Chinese will be sued and go bankrupt paying out lawsuits
They're planned obsolescence. The "trickle down" mafia run corporations hire engineers not to make them the best they can be but to deliberately "engineer" them to fail at 100,000 miles so you're forced to buy another. All while charging you 50K or even 100K. This is a big problem with the way the "trickle down" mafia runs everything in the US, FAKE "markets." FAKE "markets" cannot compete globally. Notice Toyota competes globally because they don't do this planned obsolescence. People aren't totally stupid especially around the world as a whole.
Thank you for the interesting material, I will look forward to the continuation.
I am 68. My last American car was a 1993 Ford Explorer. It was built on a truck chassis. And it drove like a truck. My wife refused to drive it. We traded it in for the Cash for Clunkers program. Purchased a brand new 2009 Honda CRV. I have not purchased an American car since. My girl just purchased a 2021 Tesla Model 3 brand new in 2021. We still have her 1997 Honda Accord 200K miles. My 2009 Honda Crv 196K miles and my 2019 Honda Ridgeline 45k miles. The Ridgeline has had several recalls. I am done with the newer Honda vehicles. They are not built with the same quality as they use to be.
New trend in China views automobile as a smart phone with 4 wheels and a sofa. GM and Ford are falling behind on this concept
What, when you crash do you really want your car insured by Asurian?
That is very scary when your life is involved.
@@waitingforapril you have dropped your iPhone before, haven’t you?
Why dont u drive dropping your car into a valley? See where that leads you with car being smartphone
Subscription vehicles.
We destroyed our middle class for this and substituted salaried work for fentanyl addiction and crime.
and every congress person wants to be a billionaire, and work for themselves instead of the folks who put them in office. not for the good of the country but outside interest.
The middle class split in half, but factory workers were moved.
why fentanyl crisis only exist in north america ?
@@lukeecle117they love the stuff
Printing money is much more easier than making cars, isn’t it ?
they charge 80k for a vehicle that rattles in 7 months of use when a Zeekr SUV is at $35k there and it has the quality of a BMW. No brainer.
In India, American companies in the early naughts were selling cars at a fraction of the American sale price - the implication being they were over-inflating prices in rich countries. Then as India grew richer, so did the price. This "price gouging" worked as long as local companies offered inferior cars (even at cheaper prices). Once the technological gap narrowed, there was no reason to buy these cars at their over-inflated price points.
In China , Tesla model 3 car selling price is $32,000. Why can't they do it in USA at that price ? It shows they are greedy and West paying for it.
With the TAX Credit it is about the same price.
Because of too much competition in China
also China made tesla using chinese supply chain which is more cheap than elsewhere
@@xuray6082yep Chinese tesla definitely cheaper to make than a American one
American versions need to meet expensive DOT regulation. Chinese models don't. That's why Chinese EVs aren't sold here.
The Big Three in the USA quit innovating. They decided to subcontract, and let others be their parts suppliers. The bidding process left little to negotiate. They wanted OEMs to produce, not build better parts. They relied on their past achievement, building big cars and trucks with high profits. Left the affordable vehicle market to foreign corporations. The foreign corporations innovated to produce high-quality, affordable vehicles, to dominate the US market with unit sales. The huge profits were repatriated to their home countries. MBAs in US elite universities were taught financial management but did not learn how to manage a workforce, nor the engineering skills to be leaders in manufacturing.
Also sounds like what Boeing has been doing in recent year
@@mostbestjia627 So true.
The West: never missing an opportunity to squander our global advantages.
Unbiased European here.
The US may no longer be the world's #1 vehicle producer but it sure as hell leads where it counts;
Oil and refined fuel products.
Food production.
Aerospace.
Medical and pharmaceuticals/biotechnology.
Global finance.
Computers and microprocessors.
Industrial products and heavy machinery.
Higher education
and others.
Not only is the United States a superpower, it is indeed the world's sole "hyper-power" who's influence reaches nearly every nation on Earth.
@@badactor3440The Wumao's might not like to hear that but you are spot on! China may make a handy and inexpensive EV but it is nowhere near as innovative and advanced as the United States in almost every other field.
@@badactor3440 and a unbiased Asian here that isnt from Mainland china. All that u state are slowly being eroded away from America. Give it some time. It has been happening unless the US industry bucks up they will fall behind overtime.
@Booz2010 china best nation
@@badactor3440 all made in china
"Chinese only want to buy Chinese brand." Sounds American to me.
If Chinese only buys Chinese brands China wouldn't have became VW and GM's largest revenue source for all those years.
Chinese buys the best cars, and right now the best cars are China, it's that simple.
It's only Americans, and only some Americans who'd pay extra for American made trash.
Except the Chinese consumers actively chose to pay more for foreign brands such as VW, Buick, and even Japanese brands such as Toyota and Honda for DECADES. Why are they just now switching to Chinese brands. Nationalism might play a part, sure, but the fact of the matter is Chinese brands are simply just as good, if not better, than western brands, and on the EV side, they are easily better.
It is not true . In fact Chinese Market is OPEN to all international brand . Many brands including local brand faded out because of fierce competition , lack of performance , not because they are from oversea brand .
We actually prefer the German brands, but they are too expensive.
@@小小烏龜 Nope, German brands are seen as outdated by everyone under 40.
As a Chinese, I'm also doubt about the EV cars, but more and more friends buy them and I have tried driving several times, it's quite, more space inside, More comfortable, More function, and more....Beautiful...So I will buy a EV car in next year
bring it on China! this is what the USA wants! we need more innovation and cheaper more affordable vehicles the consumer stands to benefit greatly from this WORK HARDER AMERICA! we have to keep up with China if we want to remain the #1 superpower not only in military butt in the open market as well... so yeah as an American I'm happy because the Chinese and the American people all stand to benefit greatly from real competition!
The USA will never allow Chinese cars in, I guess you don’t understand your own government 😂
America was never into competition, that’s how they stayed number one!
Nope. America is closing its doors and being left behind.
Europe is already considering high tariffs for Chinese cars, they're not going to just let them in
@@danielzhang1916 They can do that but it will cost them most of their exports. If EU carmakers can't compete with the Chinese ones even when they have the homefield advantage (much smaller transport costs, the buy local sentiment), then they haven't got even a shred of hope of competing with the Chinese elsewhere.
And losing their export market would be a very heavy blow for EU carmakers even if they get to keep local sales.
Just look at how much the Detroit three CEOs can still made a year when their market share are down ao much, give you an idea why they are failing.
Meanwhile, the best paid BYD executive earns less than 1/20 of what the GM CEO does. Less money wasted on executives, more money for things like R&D and expansion.
In 2008 Obama bailed them out with American tax payer money, but they never paid back, they are just too complacent
When the top is corrupt, it's just a matter of time before its values trickle down the system. And this isn't only concerning the Detroit big 3 but the country's (eg: US) values as a whole. This is why US is failing in real time for the world to see with its own two eyes. You can try to deceive your people, but it's only a matter of time before the dirty tricks get exposed because people aren't as stupid and easily controlled, thanks to the transparency of the internet.
@sandponics Nope. They are managing to make a profit on a $10K car, and are doing that and increasing revenues and profits year-over-year even while executing a pretty aggressive expansion plan that should see multiple factories starting production around the world in the next few years; Brazil's is starting production before the end of the year, for example. There are even initial plans for a factory in Mexico to guarantee no US-made car, not even regular gasoline models, will be able to compete on price in Mexico with Mexico-made BYD EVs.
Looks pretty impressive to me. At this rate BYD will soon surpass Ford on global volumes - if it hasn't already - and should be on track to challenge GM, and perhaps even VW, before the end of the decade.
Incidentally, here in Brazil BYD is already selling some 8x more than Ford (though, to be fair, Ford gave up on local production some time ago - BYD even took over Ford's old factory - and only imports cars). And that isn't just EVs, but rather total cars.
Stock buybacks were they enrich themselves and their investors. That's great short term.
I'm still wondering why Ford and GM think a truck is luxury and charge people $90K+ for it.
we live in the luxury generation where we're all entitled to luxury even if we can't afford it. I think you can blame a lot of that on how easily accessible credits/loans are compared to the baby boomer's generation.
10 years from now, COMAC, the Chinese airplane maker, will dominate the commercial airplane market as well.
Thumbs Up for such rational report of what's actually happening in China, good job CNBC👍
Generally speaking, Ford, GM, etc. are all vanilla automakers with no moat, USP, value proposition or desirability.
Unless you live in a tariff protected auto market like the US, there’s really no reason for the average consumer to consider these brands.