China's auto industry is unlikely to return to 'golden era', NIO CEO says
China's auto industry is unlikely to return to 'golden era', NIO CEO says BEIJING, May 28 (Reuters) - China's auto industry has likely moved past its "golden era", NIO 9866.HK Chief Executive William Li said on Thursday, as a downturn in domestic car sales extended into May.
A rebound in the world’s largest auto market has yet to materialise, despite the sector’s continued strength in exports, Li told reporters in Beijing.
Industry data showed China's domestic car sales were expected to stagnate in 2026, while growth in electric and plug-in hybrid sales was forecast to slow after years of rapid expansion.
Domestic sales fell sharply in April, with demand weakened by reduced government support and macro uncertainty.
(Reporting by Ju-min Park and Qiaoyi Li; Editing by Muralikumar Anantharaman)
((ju-min.park@thomsonreuters.com; Reuters Messaging: ju-min.park.thomsonreuters.com@reuters.net))
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