German auto industry has lost its grip in China

Electric car orders are declining in Germany, Demand in this segment is currently only 60 per cent of last year’s volume. Electric cars are booming in ChinaIn contrast, China, the world’s largest and most important auto market, is not only maintaining its lead in terms of new electric vehicle registrations. Globally, one in two electric cars is already in China., And Chinese manufacturers are also making rapid progress. Chinese car buyers, especially those with higher incomes, have recently begun to prefer national brands. Leading the industry is BYD, which sold 29 percent more electric cars than Tesla in the first half of the year, according to the latest data from Chinese industry association CPCA.