As the electric vehicle (EV) market continues to gain momentum in the country, local dealers are facing a harsh reality check. Earlier this year, a flurry of excitement surrounded the rush by dealers to secure franchises from prominent Chinese automakers such as BYD, Chery, and Geely. However, as the dust settles, it's becoming increasingly clear that the initial enthusiasm has been tempered by the harsh realities of a highly competitive and rapidly evolving market. With many dealers now struggling to meet the significant upfront costs and ongoing requirements associated with these new franchises, the future of these partnerships remains uncertain.
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.
