NANJING, China—Skyworth Auto’s ambitions are visible everywhere in its electric-vehicle showroom here. A video spins the story of a founder who, like a Chinese version of Elon Musk, slept in the factory to get the company up and running. A map touts its presence in 45 countries. A new sport-utility vehicle is on display.
Back in 2021, Skyworth said its main EV plant could make 100,000 vehicles a year. Its actual sales in China this year through September: 660.
A brutal season has arrived in China’s car market, among the most troubled in the world. Through September, Chinese consumers have bought about 22% fewer passenger vehicles this year than in the same period last year. This week, the head of a major Chinese car-industry group said sales for the full year would likely reach only 18.5 million vehicles, the worst performance since 2014.
