In 2019 right before the pandemic, the global car market was dominated by the European and Japanese carmakers. Around 62% of the light vehicles global sales came from a manufacturer from one of those markets. Back then, China was still a minor player concentrated on supplying its own home market. The American big guys from GM and Ford sold more cars than all their Chinese rivals combined. Everything changed. The pandemic and the semiconductors shortage forced the legacy makers to increase prices. As the demand started to recover in 2022, they simply made their clients wait more to get their brand-new and more expensive cars. Meanwhile, the Chinese cars started to appeal to their fellow citizens. The dramatic shift accelerated as companies like BYD, Geely, Chery, Changan, and new start-ups introduced more competitive and high-tech cars. The shrinking market share of the foreign carmakers in China preceded the energy crisis caused by the Russian invasion in Ukraine. The trade wars made things worse for tho