Agreement to Restrict Chinese Hybrid Exports and Crisis for European Auto Industry
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View chart & analysis → - 1Trade officials from China and the EU have reached a principle agreement to restrict Chinese hybrid vehicle exports to the EU by more than half.
- 2European manufacturers are facing difficulties as Mercedes-Benz Group AG recorded an 8% decline in vehicle sales for the third quarter.
- 3Chinese brands recorded nearly 12% market share in the European new car market in August, leading to observations that loyalty toward European brands is disappearing.
So what's the key point?
Europe and China have decided to reduce exports of Chinese hybrid cars by more than half. European auto companies are in a difficult situation as Mercedes-Benz Group AG sales fell by 8 percent.
Source Bloomberg · View original ↗
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