China’s overseas vehicle shipments are set to grow at a clip this year, bolstered by surging sales in markets like Southeast Asia and the Middle East, as the country’s heft in manufacturing electric cars goes from strength to strength.
The US carmaker has passed a test of its compliance with Beijing’s data security rules thanks to a watershed decision it says could pave the way for the removal of some restrictions on the use of its cars in mainland China.
China’s automotive sector braces for an escalating price war, and the intensified scramble for market share could hasten the closure of unprofitable laggards.