The New York Times reports that Chinese automakers are rapidly overtaking Porsche in China, undercutting our favorite brand in price and offering more features.

Reporter Melissa Eddy writes, “Many new Chinese vehicles resemble their German rivals, like the wildly popular Xiaomi SU7, which mimics Porsche’s Taycan. The SU7 rivals the Taycan in power and braking, but it also includes integrated artificial intelligence that can, for instance, help with parking and greet drivers with their favorite song. The cherry on top: It sells for roughly half the price of a Taycan.”

She reports, “[Porsche] deliveries in China plunged 28 percent in 2024. Although Porsche’s sales were up in every other region around the world, the decline in China was significant enough to pull down its global deliveries for the year by 3 percent.”

If you have a Times subscription, you can read the entire article here.