"china has built the capacity to manufacture 40 million vehicles a year but the demand is not even half that."
Actually that is probably very smart.
Unlike housing, with a population in decline, as can seen on previous charts above, sakes of cars in China is growing at 14% pa. Why would you build a factory that can only satisfy this year's demand when they will need twoce as much in a few years?
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On a separate note, mr devious was continuously rambling on about ev fires. Now we all know that currently LFP batteries are the most stable. So I thought this chart would be interesting.
"china has built the capacity to manufacture 40 million vehicles...
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