"Electric Dream Turns to Nightmare: Local Dealers Struggle to Cope with EV Franchise Frenzy. In a bid to capitalize on the growing demand for electric vehicles, local dealers rushed to secure franchises from top Chinese manufacturers BYD, Chery, and Geely earlier this year. However, as the market has begun to cool down, many dealers are now facing a harsh reality - oversupply, reduced sales, and mounting losses. With the EV market experiencing a significant downturn, dealers who overextended themselves in the pursuit of a piece of the action are now left wondering if they've bitten off more than they can chew."
Local dealers were rushing to secure franchises from the likes of BYD, Chery and Geely earlier this year. But the initial exuberance has since collided with market realities.
