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A Stellantis company building in Velizy-Villacoublay, France, on Feb. 1. GONZALO FUENTES/Reuters The bankruptcy of Stellantis’ Jeep joint venture in China could spell trouble for other global automakers whose output has plunged over the last five years in the world’s largest car market, as domestic players rapidly overtake. The first joint venture failure by a foreign brand in the electric vehicle (EV) era, the Oct. 31 bankruptcy filing marks a turning point in that Chinese car makers are beginning to surpass the long-dominant international brands in giving consumers what they want. “I do not expect Stellantis to be an isolated case,” said Marco Santino, a partner at management consultants Oliver Wyman. “Probably almost all of the western car makers will have to review the industrial logic of their presence in China.” A spokesman for Stellantis STLA-N said Jeep would operate through an “asset light” strategy in China, importing vehicles via a distribution model that is profitable for...

More than half of Chinese say they will put off travel abroad, for periods from several months to more than a year, even if borders reopened tomorrow, a study showed on Tuesday, a sign that consumer recovery from COVID-19 measures will take time. Mainland China retains some of the world’s most stringent measures on PCR testing and quarantine for international travellers, despite some domestic easing of curbs after last month’s unprecedented COVID-19 protests. Fear of infection with the disease was the top concern of those saying they would postpone travel in a survey of 4,000 consumers in China by consultancy Oliver Wyman, with worries about changes to domestic re-entry guidelines in second place. “People have become cautious,” said Imke Wouters, a retail and consumer goods partner at the firm. “So even when they can travel, we don’t think they will come back right away.” As many as 51 per cent of those surveyed plan to delay international travel. And when they do, short-haul destina...