Tag: China

BusinessManufacturing

China’s EV Market Faces Overcapacity Crisis as Price War Intensifies, Industry Leaders Warn

General Motors CEO Mary Barra states China’s electric vehicle market suffers from significant overcapacity, triggering destructive price competition. Chinese manufacturers including BYD acknowledge the price war is impacting their short-term profitability as the industry faces consolidation.

China’s EV Market Overcapacity Crisis

General Motors CEO Mary Barra has declared that China’s electric vehicle market is experiencing substantial overcapacity, creating what she describes as an “incredible price war” that threatens industry sustainability. According to reports from her appearance on The Verge’s “Decoder” podcast, Barra indicated that with over 100 different automakers competing in China, the market has become oversaturated, leading to unsustainable business conditions.

by Darren Holt
BusinessMarkets

Apple’s iPhone 17 Series Ignites Sales and Stock Surge Amid Strong Demand

Apple’s latest iPhone 17 series is reportedly outselling its predecessor in key markets, with the iPhone Air selling out in minutes in China. The surge in demand has propelled Apple shares to a record close, marking a significant rebound for the tech giant.

Strong Consumer Response to iPhone 17 Series

Apple’s newest iPhone 17 lineup is generating substantial consumer interest, with the Cosmic Orange finish on the Pro model drawing attention despite some criticism, according to reports. The series, which includes the base iPhone 17, Pro, and a slimmer Air variant, has been outperforming previous models in the U.S. and China, sources indicate. Counterpoint Research data suggests that sales have surpassed those of the predecessor, highlighting a positive reception in competitive markets.

by Natalie Brooks