Why American Automakers Are Failing In China
Detroit automakers like General Motors made a fortune selling cars to Chinese consumers after the Asian country opened its auto market to foreign firms in the 1980s. But the good times are over as Chinese firms have caught up with the foreign firms who once taught them the automotive trade. Top names like BYD, Geely and Great Wall are now making globally competitive products and many companies with tech backgrounds are entering the industry, too, including Li Auto, XPeng, Nio, Xiaomi, Huawei, Baidu, Tencent and Alibaba. Jeep’s joint venture already went bankrupt, and one industry analyst said he expects Ford and GM to withdraw from the country in the next five years along with other such as Hyundai, Kia and Nissan. Chapters: 00:00 - 2:09: Why American automakers are failing in China 2:18 Chapter 1 - A massive market 4:13 Chapter 2 - Rise and fall 6:15 Chapter 3 - How it happened 11:22 Chapter 4 - High Productivity 14:27 Chapter 5 - What’s next Producer: Robert Ferris Editor: Darren Geeter Animation: Jason Reginato, Christina Locopo Senior Managing Producer: Tala Hadavi Editorial Support: Jeniece Pettitt Additional footage: Getty Images, BYD, Polestar, Hyundai Motors Additional sources: FactSet, Tesla, General Motors, Kiel Institute » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to make extra money outside of your day job? Sign up for CNBC's new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories. CNBC Make It readers can use special discount code CNBC40 to get 40% off through 8/15/24: https://cnb.cx/4dFP9Wa Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC Why American Automakers Are Failing In China
