This is a colossal Chinese earthquake, with global aftershocks.
Chinese car brands' market share 2020-2026
2020: 36%
2022: 49%
2024: 65%
2026: 80% (f)
In the flat demand China market since 2020:
Global automakers: -11 million cars annually
Chinese automakers: +11 million cars annually
Call it market forces with Chinese characteristics.