Struggling Tan Chong faces long and rough journey

New models could turn the tide, but it will be a long haul as the company’s domestic market share dropped to 0.8% in the first half of 2024.

LOCAL automotive manufacturers and distributors are slowly but surely being overwhelmed by Chinese marques with their sleek designs and top-of-the-line technology for both electric and conventional fuel vehicles.

Among them are Tan Chong Motor Holdings Bhd, which saw its losses widen in the third quarter ended Sept 30, 2024 (3Q24) compared to the third quarter ended Sept 30, 2023 (3Q23) due to the competitive landscape, which has been further exacerbated by the aggressive Chinese marques..