Micro and Small Electric Vehicle Market Enters a Phase of Differentiated Transformation, New Entrants Face Opportunities

2024/05/16
General News
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China
After rapid development, the micro and small electric vehicle market has entered a phase of transformation with reduced market dividends and intensified competition. Over 60% of brands have exited the market, and the remaining automakers need to continuously innovate to maintain competitiveness. The user base is predominantly young women who prefer personalized designs. The market is now sinking into fifth and sixth-tier cities, where sales volume continues to grow. New entrants to the market should focus on high-sales, high-growth cities and cities with potential for growth to seize market opportunities.
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