Foreign automakers, including Porsche, struggle to compete with Chinese EV brands in China

From Yahoo Finance: 2025-04-24 02:34:00

Foreign automakers at the Shanghai auto show are struggling to win back Chinese buyers from domestic EV competition. Porsche’s sales in China have plummeted, while Xiaomi’s electric cars gain popularity. Porsche may even consider abandoning the EV segment in China due to low sales and fierce competition.

Chinese automakers like Xiaomi and Nio are rapidly increasing sales, outpacing foreign brands. Xiaomi sold more SU7s last year than Porsche sold cars in China, prompting fears for legacy automakers. Nio plans to double its sales this year with new EV models, signaling a “harvest year.”

General Motors faces challenges in China but sees potential with its premium Cadillac brand. Buick’s GL8 remains a top seller in the MPV segment, competing with Chinese brands like Denza and Xpeng. Buick aims to maintain dominance with new EV and hybrid models featuring luxury interior technology like massage seats and fragrance systems.

Foreign automakers are facing tough competition in China from domestic brands like BYD and Geely. Legacy brands like Porsche are losing market share to Chinese EVs due to their affordability and advanced technology. To remain competitive, foreign automakers must adapt quickly to the changing preferences of Chinese consumers.

Read more: Analysis-Even Porsche can’t find its lane in China as foreign automaker sales skid