China doesn't want American cars anymore — that's bad news for Ford and GM

Sat, 04/22/2023 - 05:15

Photo collage of BYD Yuan and Buick Encore Avenir — There aren't currently any Chinese car brands for sale in the US, but there is concern they could eventually make a play to upend the US market.
Sjoerd van der Wal / Getty Images, Buick; Arif Qazi / Insider

American car companies' sales in China have been on a steady decline.
"The market has totally changed," Ford CEO Jim Farley said about China
Without China, American car companies will likely lean into US electric vehicle sales.

Chinese automakers are giving US car companies a run for their money, especially as the momentum behind electric vehicles accelerates — and that could force the likes of Ford and GM to make some hard decisions.