QtrendsChina EV deliveries decline, foreign automakers struggle
China's electric and hybrid vehicle deliveries fell 7% year-on-year in June, totaling about 1 million units, adding to industry concerns over a prolonged slump. Japanese automakers Toyota and Honda both reported declining sales in China for the first half of the year as local consumers increasingly shift to EVs. In contrast, Japan's aggressive subsidies are making new EVs cheaper than used cars, with Nissan offering models as low as $3,500. Nissan is also entering the Shanghai Formula E race to strengthen its presence in the Chinese EV market.
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