Mercedes, BMW, and other European carmakers will likely “fade into history” within the next decade, Maksim Oreshkin has warned China is rapidly gaining market capitalization in the global automobile sector, while European carmakers are losing competitiveness, Maksim Oreshkin, Russian President Vladimir Putin’s top economic adviser, told Expert magazine in an interview published on Tuesday. Oreshkin noted that China has already become the number one exporter of cars in the world, which does not bode well for European car brands. “I wouldn't be surprised if companies like Mercedes and BMW fade into history in ten ye
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