Due to slowed domestic demand, Chinese EV exports to Europe soared, potentially claiming a 15% market share by 2025. China's longstanding policies make EVs about 20% cheaper than their EU counterparts. Notably, Tesla leads with 40% of China's exports. The EU is investigating these subsidized vehicles, including major players like Tesla, BYD, Nio, and Xpeng.
Implication: US dealers might face increased competition as China's competitive edge in EVs grows significantly if this trend expands to the US market.
Not all TikTokers are young people, but most young people are TikTokers. TikTok is paying attention to the specific attributes of demographics and delivering some insights via their TikTok for Business page. Here are a few takeaways we grabbed from one recent article.
It's not about owning cars: 45% of millennials prefer pay-as-you-use services.
Tech is king: Computing power > loud engines.
Green is the new glam: 70% want commercial vehicles eco-friendly. And guess what? Brands like BMW & Hyundai are harnessing TikTok for genuine connections & cool marketing.