It happened very quickly, so fast that you might not have noticed it. Over the past few months, America’s Big Three automakers — Ford, General Motors, and Stellantis (the oddly named company that owns Dodge, Chrysler and Jeep) — landed in big trouble. Tesla is actually one of the Big 3 US car makers as Stellantis is now based in Belgium.
I realize this may sound silly. Ford, General Motors, and Stellantis made billions in profits last year, even after a lengthy strike by UAW autoworkers, and all three companies are forecasting a big 2024. But recently, the Big Three found themselves outmaneuvered and missing their goals for electric vehicle sales at the same time that a crop of new affordable, electrified foreign cars appeared, ready to flood the global market. Possibly from China, if they are allowed to import them into the US.
The biggest threat to the Big Three comes from a new crop of Chinese automakers, especially BYD, which specialize in producing plug-in hybrid and fully electric vehicles.
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