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flag Porsche's sales in China drop 28% as Xiaomi's cheaper, advanced SU7 electric car gains popularity.

flag Porsche is losing market share in China's premium sports car segment due to competition from local brands like Xiaomi, which offer cheaper electric cars with advanced features. flag Xiaomi's SU7, similar to Porsche's Taycan but at about half the price, sold over 100,000 units last year. flag This has led to a 28% drop in Porsche's sales in China and a 3% decrease in global deliveries in 2024.

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