Demand for “cheap cars” to impact European OEMs

The COVID-19 pandemic has paved the way for an increase in the purchase of “cheap cars.” The shift could impact European manufacturers significantly, as they would lose out to competition from China. According to Forbes, “Chinese manufacturers are about to launch a raft of cute and affordable practical little electric city cars priced at around $6,000 after tax,” while European OEMs “are nowhere to be seen in this market, where the cheapest electric cars cost more like $25,000.” (Source: Forbes) Read the original story…

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