I do indeed rr, actually just went and had a look at the new Volvo ex30 and I’m sure it will sell very very well here (and in other countries). Growing up in Sweden, Volvo is very much a household brand and many will buy it for the cultural ties, just like people used to buy Holden cars in Australia thinking they are Australian.
Of course, Holden was owned by GM, while Volvo is now owned by Geely (Chinese).
There are the ‘Volvos’ (western brands taken over by Chinese entities) and there are the Chinese brands. Combined, they will take over and be very much like what Japanese cars have been the past decades.
Perhaps many struggle with the notion of supporting Chinese businesses (I do to some degree too), but the masses look at price/quality, and both those categories will be (or are already) in the Chinese favour in the EV space.
This has been a long term plan by China and the western brands are largely check mate (some brands will survive of course, but China will essentially take over Japans market share plus some).
All IMO
LYC Price at posting:
$6.92 Sentiment: Buy Disclosure: Held
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