This reasonably-priced sedan aims to get even more Chinese drivers out out of their ICE cars, and in to EVs. The Geely Galaxy E8 is sized and priced similar to a Honda Accord.
The other poster didn’t say anything about the exchange rate, they said Purchasing Power. The PPP (Purchasing Power Parity) between USD and the Yuan was 3.989 for 2022. So a 25k vehicle in the PRC is basically a 100k vehicle in the USA. You can purchase some excellent EVs in the United States for $100,000.
In fact the article is guilty of doing exactly what you’re talking about! Doing a direct conversion from RMB into USD without adjusting for PPP, basically throwing out all CoL differences, is what leads to stupidity like this article.
The exchange rate does not directly correlate to purchasing power. There are many factors that go into it.
According to OECD (2024), Purchasing power parities (PPP) (indicator). doi: 10.1787/1290ee5a-en (Accessed on 09 January 2024)
The other poster didn’t say anything about the exchange rate, they said Purchasing Power. The PPP (Purchasing Power Parity) between USD and the Yuan was 3.989 for 2022. So a 25k vehicle in the PRC is basically a 100k vehicle in the USA. You can purchase some excellent EVs in the United States for $100,000.
In fact the article is guilty of doing exactly what you’re talking about! Doing a direct conversion from RMB into USD without adjusting for PPP, basically throwing out all CoL differences, is what leads to stupidity like this article.
Yes, I read the article where they only provided the exchange rate.