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Why They Don’t Want You Driving a Chinese Car
(www.currentaffairs.org)
cross-posted from: https://news.abolish.capital/post/49178
I took my first ride in a Chinese car recently. Not in the U.S., of course, since sky-high tariffs have made them almost impossible to import. I was visiting family in the U.K., and we rented a BYD Sealion SUV. And let me tell you: I saw immediately why American car companies are desperate to have these things kept out of this country. It was elegantly designed, incredibly comfortable, and a smooth ride.
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If only U.S. companies could innovate and reinvest instead of spending billions on stock buybacks to drive up share price. Big 3 apparently authorized $5 billion in buybacks in 2022/2023.